Welcome to our dedicated page for Invesco DB Oil Fund SEC filings (Ticker: DBO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Invesco DB Oil Fund filings document the fund's structure as a series of Invesco DB Multi-Sector Commodity Trust, its common units of beneficial interest, and its NYSE Arca listing under DBO. Regulatory reports include material-event disclosures on the DBIQ Optimum Yield Crude Oil Index Excess Return, including index methodology changes and related statements about the fund's investment objective.
The filing record also identifies trust-level registrant information and securities registered under Section 12(b). These disclosures frame the fund's capital structure, exchange listing, index-tracking mandate, and governance context as a publicly traded commodity fund vehicle.
Invesco DB Oil Fund (DBO), a series of the Invesco DB Multi-Sector Commodity Trust, offers common units of beneficial interest (“Shares”) in a continuous primary offering, issued and redeemed only in Creation Units of 50,000 Shares with Authorized Participants at NAV. Shares trade on NYSE Arca under the symbol DBO and may trade at a premium or discount to NAV.
The Fund seeks to track the DBIQ Optimum Yield Crude Oil Index Excess, which reflects WTI crude oil futures. It primarily holds exchange-traded WTI futures, with collateral invested in U.S. Treasury securities, money market funds and T-Bill ETFs, whose income (Treasury Income, Money Market Income, T‑Bill ETF Income) is used first to pay expenses.
The Fund charges a 0.75% per annum Management Fee on daily NAV; brokerage costs are estimated at about 0.00% of NAV annually, and most routine operating expenses are borne by the Managing Owner out of the fee. As of May 31, 2026, NAV per Share was $20.96, and based on then-current short-term rates the breakeven over 12 months was calculated as $0.00, or 0% of NAV, meaning any net loss would stem from futures trading rather than ongoing expenses alone.
The strategy uses an “Optimum Yield” roll methodology that seeks to minimize negative roll yield in contango and maximize positive roll yield in backwardation, but this may not succeed. The Fund is highly concentrated in a single commodity, uses futures in a historically volatile market with an Index average annual volatility of 28.11%, is subject to CFTC and exchange position limits, and investors can lose substantially all of their investment.
Invesco DB Oil Fund generated strong first-half 2026 results, with net income of $114,441,981 for the six months ended June 30, 2026, compared with a loss of $11,098,023 a year earlier. Total return at net asset value (NAV) for the six-month period was 43.48 %, versus (7.35) % in 2025, although second-quarter NAV declined 10.49 %.
Shareholders’ equity was $ 210,799,420 with 12,050,000 Shares outstanding. Affiliated short-term Treasury and money market holdings totaled $ 215,488,518, while the Fund held 3,043 NYMEX WTI crude August 2026 futures with notional value $ 210,788,610 and unrealized depreciation of $ 14,902,757. Net cash provided by operating activities was $ 106,723,409, fully offset by financing outflows driven by net redemptions of 4,700,000 Shares. The management fee is 0.75% per annum of daily NAV, and the annualized expense ratio after waivers for the six-month period was 0.75 %.
Invesco DB Multi-Sector Commodity Trust and Invesco DB Oil Fund report a change in the Board of Managers of Invesco Capital Management LLC, the managing owner. Jordan Krugman notified the entities on June 4, 2026 that he is resigning from all positions at the managing owner and its affiliates, effective as of the close of business on August 3, 2026.
On July 31, 2026, the Board appointed Matthew Casaccia
Invesco DB Oil Fund delivered very strong results for the quarter ended March 31, 2026, driven by a sharp rise in WTI crude oil futures. Net asset value per share climbed from $12.19 to $19.54, while the market price rose from $12.20 to $19.70, producing total returns of 60.29% at NAV and 61.47% at market value.
Net income surged to $133.9 million, compared with $2.7 million a year earlier, almost entirely from futures trading gains. The fund recorded $100.1 million in net realized gains and $32.2 million in net unrealized gains on Treasury obligations, affiliated investments and commodity futures, while net investment income contributed $1.6 million after expenses.
Total assets increased to $388.5 million and shareholders’ equity to $365.5 million, supported by both performance and net creations, as shares outstanding rose from 16.75 million to 18.7 million. The portfolio consisted mainly of affiliated cash-equivalent holdings and a large long position in NYMEX WTI crude futures, with 4,685 August 2026 contracts and an associated unrealized gain of $27.0 million.
Invesco DB Oil Fund, a futures-based commodity pool trading on NYSE Arca under the symbol DBO, files its annual report outlining how it provides exposure to crude oil through the DBIQ Optimum Yield Crude Oil Index Excess Return. The fund invests primarily in WTI crude oil futures and holds U.S. Treasury obligations, money market funds, and T‑Bill ETFs as collateral. It charges a 0.75% annual management fee and is offered in 50,000‑share Creation Units to authorized participants. As of its most recently reported dates, market value of non‑affiliate equity was $228,045,000 and 16,600,040 common units were outstanding. The report emphasizes significant risks, including extreme oil price volatility, contango and “super contango” effects, position limits, liquidity constraints, geopolitical conflicts, and pass‑through tax treatment where investors are taxed on allocated income regardless of cash distributions.
Invesco DB Oil Fund (DBO) reported a profitable Q3 2025 while remaining down year‑to‑date. The fund posted net income of $4,003,162 for the quarter, driven by net investment income of $2.0 million and a positive net change in unrealized gains on futures. For the nine months ended September 30, 2025, results were a net loss of $7,094,861, reflecting earlier unrealized losses on crude oil futures.
Assets totaled $219.5 million, with equity of $219.4 million. Shares outstanding were 16,350,000 as of September 30, 2025. NAV per share was $13.42 versus $14.28 at December 31, 2024; market value per share was $13.45. Affiliated cash instruments dominated the collateral mix, including the Invesco Government & Agency Portfolio and Invesco Short Term Treasury ETF, which together represented 89.48% of shareholders’ equity. Open WTI crude futures stood at 3,516 October 2025 contracts with $219.3 million notional and $2,672,624 unrealized depreciation at quarter‑end.
Q3 total return at NAV was 1.44% (market: 1.74%); year‑to‑date total return at NAV was (6.02)%. A subsequent event notes that, effective November 10, 2025, the Index methodology will be modified to eliminate contracts with limited liquidity.
The Invesco DB Oil Fund (DBO) reported an index methodology change implemented by Deutsche Bank AG that will modify the Optimum Yield methodology to eliminate contracts with limited liquidity. The filing states this adjustment is being made by the index provider and will not affect the Fund's Investment Objective. The notice is administrative in nature and is signed by Invesco Capital Management LLC's secretary on September 26, 2025.