Invesco DB Oil Fund (DBO) provides exposure to crude oil prices via futures contracts tied to the DBIQ Optimum Yield Crude Oil Index. The Fund experienced a net loss in fiscal 2025 after several years of fluctuating profitability, driven largely by crude oil market volatility and changes in its underlying index methodology aimed at removing less liquid contracts. Despite a sizable equity base, the Fund’s operating cash flow turned negative in 2025, reflecting ongoing challenges in the commodity futures landscape. The Fund’s future performance hinges on crude oil price trajectories, geopolitical influences, and how effective the new index adjustments will be in mitigating liquidity risks.