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Invesco DB Base Metals Fund

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Product Details

The Invesco DB Base Metals Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Industrial Metals Index Excess Return™ (DBIQ Opt Yield Industrial Metals Index ER) 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 used base metals — aluminum, zinc and copper (grade A). 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 07/31/2020 06/30/2020

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Opt Yield Industrial Metals Index ER -2.24 -3.11 -4.17 1.98 -2.51 -2.92
DBIQ Opt Yield Industrial Metals Index TR -1.92 -2.08 -2.61 3.15 -1.93 -2.06
S&P GSCI Industrial Metals Index -1.93 -1.00 -1.62 2.51 -3.04 -2.99
Fund History (%)
Fund NAV -2.13 -2.51 -3.29 2.33 -2.83 -2.79
Fund Market Price -2.34 -2.52 -3.48 2.29 -2.82 -2.78
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Opt Yield Industrial Metals Index ER -9.12 -11.11 -5.60 -0.74 -2.20 -3.46
DBIQ Opt Yield Industrial Metals Index TR -8.83 -10.00 -4.03 0.39 -1.61 -2.61
S&P GSCI Industrial Metals Index -8.13 -6.67 -2.65 -0.26 -2.64 -3.48
Fund History (%)
Fund NAV -8.94 -10.34 -4.70 -0.41 -2.50 -3.32
Fund Market Price -8.82 -10.29 -4.86 -0.41 -2.37 -3.29

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. Returns less than one year are cumulative. Call 800-983-0903 for the most recent month-end performance numbers. An investor cannot invest directly in an index. The Fund's performance information from inception up to and including February 23, 2015 is a reflection of the performance associated with DB Commodity Services LLC, which served as the Predecessor Managing Owner. All the performance information on and after February 23, 2015 reflects the performance associated with the Managing Owner, Invesco Capital Management LLC.

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.

The Fund's exchange listing date: Jan. 5, 2007. Unless otherwise noted, historical information of all displayed indexes is based on this date.

The Fund seeks to track the excess return version of the Index (DBCMYEIM). Because the Fund collateralizes its futures positions with primarily US Treasuries, the results of the total return (DBIQ Optimum Yield Industrial Metals Index Total Return™ or DBIQ Opt Yield Industrial Metals Index TR) version of the Index (DBCMYTIM) are also displayed. Please refer to Intraday Stats at the top of this page for Indicative intra-day NAV, and last end-of-day NAV.

as of 06/30/2020

Growth of $10,000

Data beginning 10 years prior to the ending date of 06/30/2020. 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 (DBCMYEIM). Because the Fund collateralizes its futures positions with primarily US Treasuries, the results of the total return version of the Index (DBCMYTIM) are also displayed.

as of 08/10/2020 Holdings | View All

Fund Holdings subject to change

Futures % of Net Assets
Zinc 61.27
Copper 35.98
Aluminium 31.66
Swaps % of Net Assets
No holdings available

Collateral % of Net Assets
United States Treasury Bill 40.67
Premier US Government Money Portfolio 33.07
Invesco Treasury Collateral ETF 11.88

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 0.27250 - - - 0.27250 -
12/24/2018 12/26/2018 12/31/2018 0.24376 - - - 0.24376 -
12/15/2008 12/17/2008 12/31/2008 0.28000 0.00000 - - 0.28000 -
12/17/2007 12/19/2007 12/28/2007 0.96000 0.00000 - - 0.96000 -

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%
06/30/2020 63 18 7 7 2 0 1
03/31/2020 62 17 12 7 0 0 0
12/31/2019 64 23 7 1 0 0 0
09/30/2019 64 24 2 1 0 0 0
Year Ended 2019 252 89 23 4 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%
06/30/2020 63 17 6 3 2 0 0
03/31/2020 62 20 3 2 1 0 0
12/31/2019 64 25 6 2 0 0 0
09/30/2019 64 25 8 4 0 0 0
Year Ended 2019 252 99 29 8 0 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.

 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.

Shares in the Fund are not FDIC insured may lose value and have no bank guarantee.

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

The Shares of the Fund are not deposits, interests in or obligations of any Deutsche Bank AG, Deutsche Bank AG London Branch, Deutsche Bank Securities Inc. 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 Optimum Yield Industrial Metals Index Excess ReturnTM and DBIQ Optimum Yield Industrial Metals Index Total ReturnTM (the "Indices") are products of Deutsche Bank AG and/or its affiliates. Information regarding these Indices is reprinted with permission. Deutsche Bank® DBTM, DBIQ® Optimum YieldTM, DBIQ Optimum Yield Industrial Metals Index Excess ReturnTM and DBIQ Optimum Yield Industrial Metals Index Total ReturnTM 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. The Indices are calculated and administered by DB Parties without regards to the Fund.

Invesco Capital Management LLC and Invesco Distributors, Inc. are not affiliated with Deutsche Bank Securities Inc.

The S&P GSCI Industrial Metals Index is a world production-weighted index of certain industrial metals commodities in the world economy including futures contracts for high grade primary aluminum, copper grade a, standard lead, primary nickel and special high grade zinc.

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.