Company: DBE
Filing Date: 2025-08-26
Form Type: 424B3
Source: 0001193125-25-188734
Chunk: 59

Company: Invesco DB Energy Fund
Filing Date: 2025-08-26
Form: 424B3
Chunk 59
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 Fund, which is designed to track an Index with more than one underlying commodity, approaches or reaches position limits with respect to an Index Commodity, the Fund may commence investing in Index Contracts that reference other Index Commodities. In those circumstances, the Fund may also trade in futures contracts based on commodities other than Index Commodities that the Managing Owner reasonably believes tend to exhibit trading prices that correlate with an Index Contract. The Index is calculated in USD on an excess return (unfunded) basis, which means that the Index reflects only the return associated with spot prices for the Index Commodities and the roll yield associated with trading Index Contracts. Unlike the Index, the Fund also holds securities as collateral that are expected to generate income, including Treasury Securities, money market mutual funds, and T-Bill ETFs. These securities are held with the Custodian or Commodity Broker. 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 Index does not reflect any corresponding income characteristics. The futures contract price for each Index Commodity will be the exchange closing price for the Index Commodity on a day on which the relevant exchange is open for business (“Index Business Day”). If a weekday is not an Exchange Business Day (as defined in the following sentence) but is an Index Business Day, the exchange closing price from the previous Index Business Day will be used for each Index Commodity. “Exchange Business Day” means, in respect of an Index Commodity, a day that is a trading day for such Index Commodity on the relevant exchange (unless either an Index disruption event or force majeure event has occurred). Contract Selection On the first Index Business Day of each month (“Verification Date”), each Index Contract will be tested in order to determine whether to continue including it in the Index. If the Index Contract requires delivery of the underlying commodity in the next month, known as the Delivery Month, a new Index Contract will be selected for inclusion in the Index. For example, if the first Index Business Day is May 1 of the current year, and the Delivery Month of the Index Contract currently in the Index is June of the current year, a new Index Contract with a later Delivery Month will be selected. For each underlying Index Commodity of the Index, the new Index Contract selected will be the Index Contract with the best possible “implied roll yield” based on the closing price for each eligible Index Contract. Eligible Index Contracts are any Index Contracts having a Delivery Month (