Company: DBE
Filing Date: 2025-11-10
Form Type: 424B3
Source: 0001193125-25-273341
Chunk: 51

Company: Invesco DB Energy Fund
Filing Date: 2025-11-10
Form: 424B3
Chunk 51
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 the reference commodity), the Managing Owner may, in its discretion, take a temporary defensive position and hold a portion of the Fund’s assets in cash or cash equivalents, money market funds and/or T-Bill ETFs (including money market funds and T-Bill ETFs that are managed by affiliates of the Managing Owner) or in futures contracts other than Index Contracts. Taking such positions may mean lost investment opportunities in a period of rising market prices. During these periods, the Fund may not achieve its investment objective to track the Index. Role of Managing Owner The Managing Owner serves as the commodity pool operator and commodity trading advisor of the Fund. Specifically, with respect to the Fund, the Managing Owner: ● selects the Trustee, Commodity Broker, Administrator, Index Sponsor, Custodian, Transfer Agent, distributor and auditor; ● negotiates various agreements and fees; ● performs such other services as the Managing Owner believes that the Fund may from time to time require; and ● monitors the performance results of the Fund’s portfolio and reallocates assets within the portfolio with a view to causing the performance of the Fund’s portfolio to track that of the Index over time. The Managing Owner is registered as a commodity pool operator and commodity trading advisor with the CFTC and is a member of the NFA. The Managing Owner is an NFA-approved swap firm. The principal office of the Managing Owner is located at c/o Invesco Capital Management LLC, 3500 Lacey Road, Suite 700, Downers Grove, IL 60515. The telephone number of the Managing Owner is (800) 983-0903. Breakeven Analysis 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 $0.1307 per annum per Share at $17.33, 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% and Money Market Income is expected to be earned at a rate of 4.21%. The Fund is not expected to earn any T-Bill ETF Income. 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