Company: DBO
Filing Date: 2025-08-26
Form Type: 424B3
Source: 0001193125-25-188736
Chunk: 17

Company: Invesco DB Oil Fund
Filing Date: 2025-08-26
Form: 424B3
Chunk 17
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. federal income tax is nonetheless subject to taxation with respect to its “unrelated business taxable income” (“UBTI”). Subject to the discussion below in “Material U.S. Federal Income Tax Considerations,” all of the income realized by the Fund is expected to be short-term or long-term capital gain income, interest income or other passive investment income of the type specifically exempt from treatment as UBTI. The Fund will not borrow funds for the purpose of acquiring or holding any investments or otherwise incur “acquisition indebtedness” with respect to such investments. Therefore, a tax-exempt entity purchasing Shares is not expected to incur any UBTI by reason of its investment in the Shares or upon sale of such Shares, provided that such tax-exempt entity does not borrow funds for the purpose of investing in the Shares. Breakeven Amounts A Shareholder should expect that the Fund’s fees and expenses during the first twelve months of the Shareholder’s investment will equal 0.75% of the Fund’s NAV. This amount equates to $0.0931 per annum per Share at $12.38, the Fund’s NAV per Share as of May 31, 2025. Based on market rates observed as of May 31, 2025, the Fund’s Treasury Income is expected to be earned at a rate of 0.00%, Money Market Income is expected to be earned at a rate of 4.21%, and T-Bill ETF Income is expected to be earned at a rate of 4.23%. This means that, during those first twelve months, the Fund would have to experience trading losses that would exceed the positive difference between the Fund’s income and its expenses. As a result, the breakeven amount is reflected as $0.00 and 0% of NAV for the Fund. THE SHARES ARE SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK

11

Risk Factors You could lose money investing in Shares. You should consider carefully the risks described below before making an investment decision. You should also refer to the other information included in this Prospectus. Market Risks Fluctuations in the Price of Assets Held by the Fund Could Have a Materially Adverse Effect on the Value of an Investment in Shares. The Shares are designed to reflect as closely as possible the changes, positive or negative, in the level of the Index, over time, through the Fund’s portfolio of exchange-traded Index Contracts. The value of the Shares relates directly to the value of the portfolio