Invesco DB Base Metals Fund is an ETF that gives investors exposure to base metals prices through futures contracts on aluminum, copper, zinc, lead, and nickel. The Fund tracks the DBIQ Optimum Yield Industrial Metals Index Excess Return and does not physically hold metals. Shares are listed on NYSE Arca and are created and redeemed through authorized financial institutions in blocks of 50,000 shares, which are then traded by retail and institutional investors on the exchange. The Fund charges a management fee of 0.75% per annum on daily NAV, which covers payments to Invesco Capital Management as managing owner, plus the index licensor, commodity broker, administrator, custodian, and distributor. The Fund has no employees; all operations are outsourced. Investor returns come from two sources: changes in futures contract prices (including roll yield) and income from collateral held in U.S. Treasuries, money market funds, and T-Bill ETFs. A key feature of the Fund's index methodology is its "optimum yield" roll strategy, which rolls into whichever eligible futures contract offers the best implied roll yield rather than rolling on a fixed schedule — an approach designed to reduce return drag in contango markets. As of year-end 2025, copper contracts combined represent roughly 47% of the index and aluminum roughly 28%, making the Fund's performance disproportionately sensitive to those two metals, which are closely tied to global industrial activity and infrastructure spending.