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DBO: Index methodology updated to exclude low-liquidity contracts

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

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.

Positive

  • Index provider is addressing liquidity by eliminating contracts described as having limited liquidity
  • Fund's Investment Objective remains unchanged according to the filing dated September 26, 2025

Negative

  • None.

Insights

Index rules change removes low-liquidity contracts; investment objective unchanged.

The index provider, Deutsche Bank AG, is altering the Optimum Yield methodology to exclude contracts described as having limited liquidity. Removing low-liquidity contracts typically aims to improve tradability and reduce market-impact when rebalancing the index.

This change depends on how many and which contracts are removed and could alter the index composition and roll characteristics over the near term; the filing states the Fund's Investment Objective will not change. Watch the next published index composition and any subsequent notices for concrete contract-level changes within weeks.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Understanding 8-K Material Events →
false000136730600-0000000IL 0001367306 2025-09-26 2025-09-26 0001367306 dbo:InvescoDbOilFundMember 2025-09-26 2025-09-26
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM
8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2025
 
 
INVESCO DB MULTI-SECTOR COMMODITY TRUST
(Registrant)
INVESCO DB OIL FUND
(Co-Registrant)
(Exact name of registrant as specified in its charter)
 
 
 
Delaware
  
001-33229 and
001-33242
  
87-0778062
(State or other jurisdiction
of incorporation)
  
(Commission
File Numbers)
  
(I.R.S.
Employer

Identification No.)
 
c/o Invesco Capital Management LLC
3500 Lacey Road, Suite 700
Downers Grove,
Illinois
  
60515
(Address of principal executive offices)
  
(Zip Code)
(800)
983-0903
(Registrant’s telephone number, including area code)
Not Ap
plica
ble
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
☐
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
 
☐
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
  
Trading
Symbol(s)
  
Name of each exchange
on which registered
Common Units of Beneficial Interest   DBO   NYSE Arca, Inc.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
 
☐
Emerging growth company
 
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act.
 
 
 
Item 8.01
Other Events
Effective November 10, 2025, changes will be made to the DBIQ Optimum Yield Crude Oil Index Excess Return
TM
(the “Index”), the index the Invesco DB Oil Fund (the “Fund”) seeks to track. The changes to the Index are being implemented by Deutsche Bank AG, the Index provider, and will result in the current Optimum Yield methodology being modified to eliminate contracts with limited liquidity.
The changes described herein will not effect the Fund’s Investment Objective.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Invesco DB Multi-Sector Commodity Trust
  By:  
Invesco Capital Management LLC,
its Managing Owner
    By:  
/s/ Adam Henkel
      Name:   Adam Henkel
      Date:   September 26, 2025
      Title:   Secretary
 
Invesco DB Oil Fund, a series of Invesco DB Multi-Sector Commodity Trust
  By:  
Invesco Capital Management LLC,
its Managing Owner
    By:  
/s/ Adam Henkel
      Name:   Adam Henkel
      Date:   September 26, 2025
      Title:   Secretary

Source: View Original Filing on SEC EDGAR

FAQ

What change did Invesco DB Oil Fund (DBO) disclose?

Deutsche Bank AG modified the Optimum Yield methodology to eliminate contracts with limited liquidity.

Will the Fund's investment objective change for DBO?

No. The filing states the changes will not affect the Fund's Investment Objective.

Who implemented the index changes affecting DBO?

The index provider, Deutsche Bank AG, implemented the methodology changes.

When was the notice signed for DBO?

The filing is signed on September 26, 2025 by Invesco Capital Management LLC's secretary.