Invesco DB Agriculture Fund

Frequently Asked Questions About DBA

What does DBA invest in?

The Invesco DB Agriculture Fund strives to replicate the directional changes, positive or negative, of the DBIQ Diversified Agriculture Index Excess Return. Its total return also incorporates interest earnings from its primary investments in U.S. Treasury securities and money market instruments, after the deduction of the Fund's operational costs. This fund is structured to provide investors with a cost-effective and straightforward pathway to invest in commodity futures. The underlying Index is a systematically constructed benchmark comprising futures contracts on several of the most liquid and actively traded agricultural commodities. It is not possible to directly invest in the Index. Both the Fund and the Index undergo rebalancing and reconstitution each year in November. Potential investors should be aware that this Fund is not suitable for all, given the speculative characteristics of its investment approach and its engagement in highly volatile markets. The frequent price movements inherent in futures contracts carry a significant risk of substantial financial losses. For a complete understanding of these and other risks, please consult the "Risk and Other Information" section and the Fund's official Prospectus. Information concerning qualified notices for IRS Section 1446(f) Rule for Publicly Traded Partnerships (PTPs) can be found at our ETF tax center, along with the Form 1065 Schedule K-3 FAQ for Invesco DB Funds (Securities Act of 1933).

What is the expense ratio of DBA?

Invesco DB Agriculture Fund (DBA) charges an expense ratio of 0.90%. This is the annual fee deducted from fund assets to cover management and operations.

What is DBA's dividend yield?

DBA's trailing-twelve-month yield is 3.11%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of DBA?

Effective duration measures DBA's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. DBA's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of DBA?

DBA's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of DBA?

Yield to maturity (YTM) is the total return you'd earn from DBA if every bond in the portfolio is held to maturity at the current price. DBA's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.