Company: DBE
Filing Date: 2025-08-26
Form Type: 424B3
Source: 0001193125-25-188734
Chunk: 49

Company: Invesco DB Energy Fund
Filing Date: 2025-08-26
Form: 424B3
Chunk 49
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 The value of the Shares is expected to fluctuate in relation to changes in the value of the Fund’s portfolio. The market price of the Shares may not be identical to the NAV per Share, but these two valuations are generally expected to be very close. See “Risk Factors – NAV May Not Always Correspond to Market Price and, as a Result, Creation Units May Be Created or Redeemed at a Value that Differs from the Market Price of the Shares.” The Fund pursues its investment objective by investing in a portfolio of exchange-traded futures on the Index Commodities. The Fund is designed to track its Index, which is intended to reflect the changes in market value of the energy sector. The Index Commodities consist of Light, Sweet Crude Oil (WTI); Ultra-Low Sulfur Diesel; Brent Crude Oil; RBOB Gasoline and Natural Gas. The Managing Owner may determine to invest in other futures contracts 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 an Index Commodity through the use of Index Contracts. These other futures contracts may or may not be based on an Index Commodity. When they are not, the Managing Owner seeks to select futures contracts that it reasonably believes tend to exhibit trading prices that correlate with an Index Contract. 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 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. Under the Fifth Amended and Restated Declaration of Trust and Trust Agreement of the Trust, as amended (the “Trust Agreement”), the Managing Owner has exclusive management and control of all aspects of the business of the Fund. The Trustee’s duties and liabilities with respect to the offering of the Shares and the management of the Fund are limited to its express obligations under the Trust Agreement. The Trustee will have no duty or liability to supervise or monitor the performance of the Managing Owner, nor will the Trustee have any liability for the acts or omissions of the Managing Owner. There can be no assurance that the Fund will achieve its investment objective or avoid substantial losses. Temporary Defensive Positions Because the Fund