Institutional

DBA

Alternative | Commodities

Invesco DB Agriculture Fund

Product Details

The Invesco DB Agriculture (Fund) seeks to track changes, whether positive or negative, in the level of the DBIQ Diversified Agriculture Index Excess Return™ (DBIQ Diversified Agriculture Index ER or Index) plus the interest income from the Fund's holdings of primarily US Treasury securities and money market income less the Fund's expenses. The Fund is designed for investors who want a cost-effective and convenient way to invest in commodity futures. The Index is a rules-based index composed of futures contracts on some of the most liquid and widely traded agricultural commodities. You cannot invest directly in the Index. The Fund and the Index are rebalanced and reconstituted annually in November.

This Fund is not suitable for all investors due to the speculative nature of an investment based upon the Fund's trading which takes place in very volatile markets. Because an investment in futures contracts is volatile, such frequency in the movement in market prices of the underlying futures contracts could cause large losses. Please see "Risk and Other Information" and the Prospectus for additional risk disclosures.

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

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Diversified Agriculture Index ER -2.36 -2.36 -4.65 -4.58 -6.20 -2.68
DBIQ Diversified Agriculture Index TR -2.00 -2.00 -3.23 -3.49 -5.64 -1.85
S&P GSCI Agriculture Index 14.94 14.94 1.75 -2.33 -7.00 -3.06
Fund History (%)
Fund NAV -2.60 -2.60 -4.07 -4.34 -6.48 -2.64
Fund Market Price -2.54 -2.54 -4.04 -4.28 -6.47 -2.67
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Diversified Agriculture Index ER -2.36 -2.36 -4.65 -4.58 -6.20 -2.68
DBIQ Diversified Agriculture Index TR -2.00 -2.00 -3.23 -3.49 -5.64 -1.85
S&P GSCI Agriculture Index 14.94 14.94 1.75 -2.33 -7.00 -3.06
Fund History (%)
Fund NAV -2.60 -2.60 -4.07 -4.34 -6.48 -2.64
Fund Market Price -2.54 -2.54 -4.04 -4.28 -6.47 -2.67

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. Returns less than one year are cumulative. Call 800-983-0903 for the most recent month-end performance. An investor cannot invest directly in an index. The Fund's performance from inception up to and including February 23, 2015, reflects performance associated with the predecessor managing owner. Performance on and after February 23, 2015, reflects performance associated with the current managing owner, Invesco Capital Management LLC. 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.

Index history has certain inherent limitations and does not represent actual trading performance or returns of the Fund. Index history does not represent trades that have actually been executed and therefore may under or over compensate for the impact, if any, of certain market factors, such as illiquidity. No representation is being made that the Fund will or is likely to achieve profits or losses similar to the Index history.

From Jan. 5, 2007 (the Fund's exchange listing date) to Oct. 19, 2009, the Fund sought to track the Deutsche Bank Liquid Commodity Index-Optimum Yield Agriculture Excess Return™. From Oct. 19, 2009, to Dec. 31, 2010, the Fund sought to track the Deutsche Bank Liquid Commodity Index Diversified Agriculture Excess Return™ (Symbol: DBAGIX). Since Dec. 31, 2010, the Fund seeks to track the DBIQ Diversified Agriculture Index ER (Symbol: DBLCDBAE). The only difference between the Deutsche Bank Liquid Commodity Index Diversified Agriculture Excess Return™ and the DBIQ Diversified Agriculture Index ER is a name change.

The Index results from each discrete time period reflect the closing levels of each applicable index that the Fund tracked during the corresponding time period.

Because the Fund collateralizes its futures positions with primarily US Treasuries, money market funds and T-Bill ETFs, the results of the DBIQ Diversified Agriculture Index Total Return (DBIQ Diversified Agriculture Index TR) (Symbol: DBLCDBAT) are also displayed. With reference to the DBIQ Diversified Agriculture Index TR history, it followed the same Index history as the excess return version except from Dec. 31, 2010, forward, where the performance shown is of the DBIQ Diversified Agriculture Index TR. Please refer to Intraday Stats at the top of this page for Indicative intra-day NAV, and last end-of-day NAV.

as of 09/30/2020

Growth of $10,000

Data beginning 10 years prior to the ending date of 09/30/2020. Fund performance shown at NAV.

Performance data quoted represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Call 800-983-0903 for the most recent month-end performance numbers. Investment returns and principal value will fluctuate and shares of the Fund, when redeemed, may be worth more or less than their original cost. Returns less than one year are cumulative. An investor cannot invest directly in an index.

The Fund seeks to track the excess return version of the Index (DBLCDBAE). Because the Fund collateralizes its futures positions with primarily US Treasuries, the results of the total return version of the Index (DBLCDBAT) are also displayed.

as of 01/15/2021 Holdings | View All

Fund Holdings subject to change

Futures % of Net Assets
Corn 13.78
Soybeans 13.43
Wheat 12.57
Sugar 12.53
Coffee 11.75
Live Cattle 11.17
Cocoa 10.62
Lean Hogs 7.70
Feeder Cattle 3.64
Cotton 2.83
Swaps % of Net Assets
No holdings available

Collateral % of Net Assets
STIT - Government & Agency Portfolio 56.92
United States Treasury Bill 29.89
Invesco Treasury Collateral ETF 12.71

A negative in Cash or Other, as of the date shown, is normally due to fund activity that has accrued or is pending settlement.

Distributions | HideView All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital Liquidation Distribution
12/23/2019 12/24/2019 12/31/2019 0.25717 - - - 0.25717 -
12/24/2018 12/26/2018 12/31/2018 0.17994 - - - 0.17994 -
12/15/2008 12/17/2008 12/31/2008 0.45000 0.00000 - - 0.45000 -
12/17/2007 12/19/2007 12/28/2007 0.45000 0.00000 - - 0.45000 -

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 64 34 2 0 0 0 0
09/30/2020 64 34 10 0 0 0 0
06/30/2020 63 29 10 1 0 0 0
03/31/2020 62 22 0 1 0 0 0
Year Ended 2020 253 119 22 2 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 64 27 1 0 0 0 0
09/30/2020 64 19 1 0 0 0 0
06/30/2020 63 21 2 0 0 0 0
03/31/2020 62 35 2 1 1 0 0
Year Ended 2020 253 102 6 1 1 0 0

Fund Inception : 01/05/2007

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

Premiums/Discounts

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

 Risk & Other Information

The value of the Shares of the Fund relate directly to the value of the futures contracts and other assets held by the Fund and any fluctuation in the value of these assets could adversely affect an investment in the Fund's Shares.

The Fund is speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund.

Commodities and futures generally are volatile and are not suitable for all investors.

Please review the prospectus for breakeven figures for the Fund.

The Fund is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.

This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing.

This Fund issues a Schedule K-1.

The Shares of the Fund are not deposits, interests in or obligations of any Deutsche Bank AG, Deutsche Bank AG London Branch, DWS Investment Management Americas Inc. ("DIMA") or any of their respective subsidiaries or affiliates or any other bank (collectively, the "DB Parties") and are not guaranteed by the DB Parties.

DBIQ Diversified Agriculture Index Excess Return, DBIQ Diversified Agriculture Index Total Return, Deutsche Bank Liquid Commodity Index–Optimum Yield Agriculture Excess Return and Deutsche Bank Liquid Commodity Index–Diversified Agriculture Excess Return (the "Indices") are products of Deutsche Bank AG and/or its affiliates. Information regarding these Indices is reprinted with permission. ©Copyright 2020. All rights reserved. Deutsche Bank®, DB, DBIQ®, Optimum Yield, DBIQ Diversified Agriculture Index Excess Return, DBIQ Diversified Agriculture Index Total Return, Deutsche Bank Liquid Commodity Index–Optimum Yield Agriculture Excess Return and Deutsche Bank Liquid Commodity Index–Diversified Agriculture Excess Return are trademarks of Deutsche Bank AG. The Indices and trademarks have been licensed for use for certain purposes by Invesco Capital Management LLC, an affiliate of Invesco Distributors, Inc. The Fund is not sponsored, endorsed, sold or promoted by DB Parties or their third party licensors and none of such parties makes any representation, express or implied, regarding the advisability of investing in the Fund, nor do such parties have any liability for errors, omissions, or interruptions in the Indices. As the Index Provider, Deutsche Bank AG is licensing certain trademarks, the underlying Index and trade names which are composed by Deutsche Bank AG without regard to Index, this product or any investor.

Invesco Capital Management LLC and Invesco Distributors, Inc. are not affiliated with DWS Investment Management Americas Inc.

The S&P GSCI Agriculture Index is a world production-weighted index of certain agricultural commodities in the world economy including futures contracts for wheat (Chicago wheat), red wheat (Kansas wheat), corn, soybeans, cotton, sugar, coffee and cocoa.

Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.