Company: DBE
Filing Date: 2025-11-10
Form Type: 424B3
Source: 0001193125-25-273341
Chunk: 20

Company: Invesco DB Energy Fund
Filing Date: 2025-11-10
Form: 424B3
Chunk 20
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-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 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, less the liabilities (including estimated accrued but unpaid expenses) of the Fund. The price of the Index Commodities may fluctuate widely. Several factors may affect the prices of the Index Commodities and performance of the Fund, including, but not limited to: ● Global supply and demand of each of the Index Commodities, which may be influenced by such factors as forward selling by the various commodities producers, purchases made by the commodities’ producers to unwind their hedge positions and production and cost levels in the major markets of each of the Index Commodities; ● Domestic and foreign interest rates and investors’ expectations concerning interest rates; ● Domestic and foreign inflation rates and investors’ expectations concerning inflation rates; ● Investment and trading activities of mutual funds, ETFs, closed-end funds, hedge funds and commodity funds; ● A significant change in investor interest, including as a result of online campaigns or other activities targeting investments in an Index Commodity; ● Weather and other environmental conditions; ● Acts of God; ● War or acts of terrorism; and ● Global or regional political, economic or financial events and situations, including changes in trade regulation or economic sanctions and government regulation and intervention. Investing in Oil Markets Has Unique Risks, As Demonstrated in 2020. The oil markets are characterized by extreme volatility. As the impact of the COVID-19 pandemic-related price volatility was realized by various sectors of the financial and commodity markets, unusual developments in the crude oil markets occurred. A collapse of demand for fuel following government restrictions on travel created an oversupply