Company: DBO
Filing Date: 2025-08-26
Form Type: 424B3
Source: 0001193125-25-188736
Chunk: 11

Company: Invesco DB Oil Fund
Filing Date: 2025-08-26
Form: 424B3
Chunk 11
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iring futures contract, the futures contract with a delivery month within the next thirteen months that generates the most favorable implied roll yield under the current market conditions. The Fund trades Index Contracts that are subject to position limits under regulations of the CFTC or futures exchange rules, as applicable. As the Fund approaches or reaches position limits, the Managing Owner may determine to invest in other futures contracts, or may do so if at any time it is impractical, including in scenarios wherein the futures market for an Index Contract is thinly traded, or inefficient to gain full or partial exposure to the Index Commodity through the use of Index Contracts. These other futures contracts may or may not be based on the Index Commodity. When they are not, the Managing Owner may seek to select futures contracts that it reasonably believes tend to exhibit trading prices that correlate with the Index Contract. Deutsche Bank Securities, Inc. (the “Index Sponsor” or “DBSI”) calculates the Index on an excess return basis, which is the combined return based on the spot prices of the Index Commodity and the roll yield from trading futures contracts on the Index Commodity. The excess return basis calculation reflects the change in market value over time, whether positive or negative, of the applicable underlying commodity futures only. Unlike the Index’s methodology, the Fund also holds as collateral securities that are expected to generate income, including Treasury Securities and shares of money market mutual funds and T-Bill ETFs. These securities are held with the Custodian or the Commodity Broker (as defined herein). In addition, Treasury Securities for deposit may be held with the Commodity Broker for cash management purposes or as margin for the Fund’s futures positions. The Managing Owner Invesco Capital Management LLC, a Delaware limited liability company, serves as Managing Owner of the Trust and the Fund. The Managing Owner was formed on February 7, 2003. The Managing Owner is an affiliate of Invesco Ltd. The Managing Owner was formed to be the managing owner of investment vehicles such as ETFs and has been managing non-commodity futures-based ETFs since 2003 and commodity futures-based ETFs since 2014. The Managing Owner serves as the commodity pool operator and commodity trading advisor of the Trust and the Fund. The Managing Owner is registered as a commodity pool operator and commodity trading advisor with the CFTC and is a member of, and approved as a swap firm by, the National Futures Association (the “NFA”). As a registered commodity pool operator and commodity trading advisor, with respect to both the