Thu, May 8, 9:14 PM (7 days ago)
**Invesco DB Base Metals Fund (DBB) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Assets:** $126.6 million (March 31, 2025) vs. $118.7 million (December 31, 2024) - **Liabilities:** $2.9 million (March 31, 2025) vs. $5.9 million (December 31, 2024) - **Shareholders' Equity:** $123.8 million (March 31, 2025) vs. $112.7 million (December 31, 2024) - **Shares Outstanding:** 6.45 million (March 31, 2025) vs. 6.00 million (December 31, 2024) **Revenue & Profit Margins:** - **Net Income:** $2.1 million (Q1 2025) vs. $(2.2) million (Q1 2024) - **Total Income:** $1.2 million (Q1 2025) vs. $1.6 million (Q1 2024) - **Total Expenses:** $205.9 thousand (Q1 2025) vs. $207.5 thousand (Q1 2024) **Cash Flow:** - **Net Cash Provided by/Used in Operating Activities:** $(8.9) million (Q1 2025) vs. $1.3 million (Q1 2024) - **Net Cash Provided by/Used in Financing Activities:** $8.9 million (Q1 2025) vs. $(1.3) million (Q1 2024) **Earnings Changes & Quarterly Performance:** - **Net Asset Value (NAV) per Share:** $19.19 (March 31, 2025) vs. $18.79 (December 31, 2024) - **Market Value per Share:** $19.20 (March 31, 2025) vs. $18.84 (December 31, 2024) - **Total Return (NAV):** +2.13% (Q1 2025) vs. -1.86% (Q1 2024) - **Total Return (Market Value):** +1.91% (Q1 2025) vs. -1.97% (Q1 2024) **Trends & Uncertainties:** - **Market Performance:** Industrial metals experienced mixed performance in Q1 2025, with gains in copper offset by declines in aluminum and zinc. - **Economic Factors:** Performance was influenced by infrastructure spending, defense spending, a weaker U.S. dollar, and geopolitical events. - **Uncertainties:** Market volatility, regulatory actions, and geopolitical risks may impact future performance. **Future Operations & Impact:** - The Fund aims to track the DBIQ Optimum Yield Industrial Metals Index Excess Return™ (Index) and may invest in other futures contracts if necessary. - The Fund's performance is driven by its strategy of trading futures contracts and is subject to market risks and uncertainties. - The Fund's liquidity is derived from the offering of Shares to Authorized Participants, and it holds a significant portion of its NAV in United States Treasury Obligations or cash for margin and cash management purposes.