DBO

Invesco DB Oil Fund
*Unless otherwise stated, data provided by FactSet.

DBO Fund Description

DBO tracks an index of crude oil futures contracts. It optimizes its contract selection based on the shape of the futures curve to minimize contango.

DBO Factset Analytics Insight

DBO is an ETC that gets access to WTI oil using a next generation futures strategy. DBO gets exposure to the price of oil using future contracts, and futures-based exposure is subject to negative roll yield or decay when the futures curve is upsloping. DBO optimizes exposure to the curve to combat contango by rolling into whichever contract month (within the next 13) looks most attractive by its rules, rather than rolling front-month contracts. Like many of its competitors, DBO is structured as a commodity pool, so it reports capital gains on a K-1 at a 60/40 blended rate. The fund and the index are rebalanced and reconstituted annually in November.

PERFORMANCE [as of 07/30/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DBO 1.47% 14.21% 55.40% 76.08% 3.40% 10.93% -7.29%
DBO (NAV) 1.91% 16.76% 55.34% 79.42% 3.60% 10.97% -7.24%
S&P GSCI Crude Oil Index 1.53% 17.66% 54.48% 79.82% -17.95% -3.96% -14.00%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DBO Summary Data

Invesco
Invesco DB
01/05/07
Commodities Pool
0.78%
$505.80M
$9.61M
0.08%

DBO Portfolio Data

Futures
Optimized
Annually
--

DBO Index Data

DBIQ Optimum Yield Crude Oil Index Total Return
Single Asset
Single Asset
S&P GSCI Crude Oil Index

DBO Portfolio Management

0.78%
--
--
--

DBO Tax Exposures

27.84% / 27.84%
--
Yes

DBO Fund Structure

Commodities Pool
No
N/A
N/A
N/A
Low
Daily

DBO Factset Analytics Block Liquidity

As of 08/02/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DBO. DBO is rated a 5 out of 5.

DBO Tradability

766,378
$9.61M
588,068
$7.55M
0.08%
$0.01
-0.09%
0.77% / -1.27%
None
100.00%
200,000
2.94
0.02%
--
6,681
$13.14
5

DBO Sector Breakdown


DBO
Segment Benchmark
100.00%
100.00%

DBO Top 10 Targeted Commodity Weights

34.38%
31.72%
9.97%
3.99%
3.99%
3.99%
100.00%

DBO Tenor Strategy

DBO's optimized tenor selection uses a rules-based strategy for choosing contracts over the next 13 months that will give the best possible implied roll yield.

DBO Rolling Strategy

DBO rolls contracts between the 2nd and 6th business days each month.

DBO Performance Statistics

0.98
0.88
0.88
1.03
0.00%