Company: DBE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027264
Chunk: 137

Company: Invesco DB Energy Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7A
Chunk 137
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 the Fund’s losses in any market sector will be limited to VaR.

THE FUND’S TRADING VALUE AT RISK

The Fund calculates VaR using the actual historical market movements of the Fund’s net assets.

The following table indicates the trading VaR associated with the Fund’s net assets as of December 31, 2024.

    For the Year Ended

    December 31, 2024

    Description
     
    Net Assets

    Daily Volatility

    VaR*(99 Percentile)

    Number of timesVaR Exceeded

    Invesco DB Energy Fund
     
    $
    47,223,940

    1.13
    %
     
    $
    1,241,750

    19

32

The following table indicates the trading VaR associated with the Fund’s net assets as of December 31, 2023.

    For the Year Ended

    December 31, 2023

    Description
     
    Net Assets

    Daily Volatility

    VaR*(99 Percentile)

    Number of timesVaR Exceeded

    Invesco DB Energy Fund
     
    $
    73,888,867

    1.36
    %
     
    $
    2,335,257

    24

 *	The VaR represents the one day downside risk, under normal market conditions, with a 99% confidence level. It is calculated using historical market moves of the Fund’s net assets and uses a one year look back.

THE FUND’S NON-TRADING MARKET RISK

The Fund has non-trading market risk as a result of investing in short-term United States Treasury Obligations, T-Bill ETFs and money market mutual funds. The market risk represented by these investments is not expected to be material.  Although the Fund purchases and sells shares of T-Bill ETFs on an exchange, it does not establish or liquidate those positions for trading purposes. 

QUALITATIVE DISCLOSURES REGARDING PRIMARY TRADING MARKET RISK EXPOSURES

The following qualitative disclosures regarding the Fund’s market risk exposures—except for those disclosures that are statements of historical fact—constitute forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The Fund’s primary market risk exposures are subject to numerous uncertainties, contingencies and risks. Government interventions, defaults and expropriations,