Alternative | Commodities

Invesco DB Gold Fund

Ticker: DGL

Product Details

The Invesco DB Gold (Fund) seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Gold Index Excess Return™ (DBIQ Opt Yield Gold 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 gold. 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.

Qualified Notice for IRS Section 1446(f) Rule - Invesco DB Funds

as of 10/31/2022 09/30/2022

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Opt Yield Gold Index ER -12.01 -9.91 0.85 3.03 -1.92 4.63
DBIQ Opt Yield Gold Index TR -10.84 -8.70 1.52 4.27 -1.21 5.52
Gold Spot Fix pm -9.24 -7.36 2.75 5.23 -0.48 6.45
Fund History (%)
Fund NAV -11.84 -9.84 0.65 3.41 -2.11 4.66
Fund Market Price -12.19 -10.11 0.58 3.34 -2.15 4.62
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DBIQ Opt Yield Gold Index ER -10.34 -6.76 2.44 3.19 -2.04 4.78
DBIQ Opt Yield Gold Index TR -9.43 -5.80 3.06 4.39 -1.37 5.66
Gold Spot Fix pm -7.43 -4.08 4.02 5.43 -0.60 6.62
Fund History (%)
Fund NAV -10.29 -6.89 2.23 3.55 -2.25 4.80
Fund Market Price -10.53 -6.99 2.03 3.54 -2.28 4.77

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.

Because the Fund collateralizes its futures positions primarily with US Treasuries, money market funds and TBill ETFs, the results of the DBIQ Optimum Yield Gold Index Total Return (DBIQ Optimum Yield Gold Index TR) (Symbol: DBLCOGCT) are also displayed. Please see invesco.com for indicative intra-day NAV and last end-ofday NAV.

as of 09/30/2022

Growth of $10,000

Data beginning 10 years prior to the ending date of 09/30/2022. 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 (DBCMOGCE). Because the Fund collateralizes its futures positions with primarily US Treasuries, the results of the total return version of the Index (DBCMOGCT) are also displayed. An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

as of 11/30/2022 Holdings | View All

Fund Holdings subject to change

Futures % of Net Assets
Gold 99.74
Swaps % of Net Assets
No holdings available

Collateral % of Net Assets
Invesco Government & Agency Portfolio 57.50
United States Treasury Bill 44.78
Invesco Treasury Collateral ETF 4.91

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 0.86062 - - - 0.86062 -
12/24/2018 12/26/2018 12/31/2018 0.57908 - - - 0.57908 -
12/18/2017 12/19/2017 12/29/2017 0.04202 0.00000 - - 0.04202 -
12/15/2008 12/17/2008 12/31/2008 0.26000 0.00000 - - 0.26000 -
12/17/2007 12/19/2007 12/28/2007 0.81000 0.00000 - - 0.81000 -

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%
09/30/2022 64 16 4 1 0 0 0
06/30/2022 62 24 5 3 0 0 0
03/31/2022 62 23 7 4 1 0 0
12/31/2021 64 26 5 2 0 0 0
Year Ended 2021 252 95 13 5 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%
09/30/2022 64 33 9 1 0 0 0
06/30/2022 62 24 5 1 0 0 0
03/31/2022 62 17 3 5 2 0 0
12/31/2021 64 30 1 0 0 0 0
Year Ended 2021 252 121 15 2 0 1 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 break-even 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, 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 Gold Index Excess ReturnTM and DBIQ Optimum Yield Gold Index Total ReturnTM (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® DBTM, DBIQ® Optimum YieldTM, DBIQ Optimum Yield Gold Index Excess ReturnTM and DBIQ Optimum Yield Gold 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. 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 Deutsche Bank Securities, Inc.

The Gold Spot Fix pm establishes the price per ounce of gold at 3pm London time as deemed by the five members of the London Gold Pool. The five members determine where supply meets demand for the bank's entire pending buy and sell orders to find a price balance.

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.