PDBA — Invesco Agriculture Commodity Strategy No K-1 ETF

Data updated: 2026-09-29

PDBA — Invesco Agriculture Commodity Strategy No K-1 ETF. Commodity · $304.88M AUM · 0.59% expense ratio. Holdings, fees, performance and SEC filings.

PDBA Fund Overview

PDBA — Invesco Agriculture Commodity Strategy No K-1 ETF is a US ETF managed by Invesco Actively Managed Exchange-Traded Commodity Fund Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

PDBA Investment Objective and Strategy

Invesco Agriculture Commodity Strategy No K-1 ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Invesco Actively Managed Exchange-Traded Commodity Fund Trust.

Investment objective

The Invesco Agriculture Commodity Strategy No K-1 ETF (the Fund) seeks long-term capital appreciation.

Principal investment strategy

The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a combination of financial instruments that are economically linked to commodities drawn from the agriculture sector. Under normal circumstances, the Fund invests, either directly or through a wholly-owned subsidiary (the Subsidiary), in a combination of three categories of investments: ? Commodities Futures exchange-traded futures contracts on underlying commodities. ? Commodity-Linked Instruments other instruments whose value is derived from or linked to price movements of underlying physical commodities, represented by exchange-traded futures contracts on commodity indices, commodity-linked notes, exchange-traded options on Commodities Futures, swaps on commodities and commodity-related forward contracts.

? Collateral cash, cash-like instruments or high-quality securities. The Collateral may consist of (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; and/or (3) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or determined by the Adviser to be of comparable quality. Such Collateral is designed to provide liquidity, serve as margin or otherwise collateralize investments in the Commodities Futures and Commodity-Linked Instruments. The Fund will not invest directly in physical commodities, Commodities Futures or Commodity-Linked Instruments. Instead, the Fund attempts to obtain investment returns that are highly correlated to the agriculture commodities markets by investing in these instruments indirectly through its Subsidiary.

The Funds investment in the Subsidiary is expected to provide the Fund with exposure to Commodities Futures and Commodity-Linked Instruments in accordance with the limits of the federal tax laws, which limit the ability of investment companies like the Fund to invest directly in such investments. The Funds investment in the Subsidiary may not exceed 25% of the Funds total assets at each quarter-end of the Funds fiscal year. The Subsidiary operates under Cayman Islands law. It is wholly-owned and controlled by the Fund and advised by the Adviser. The Subsidiary has the same investment objective as the Fund and will follow the same general investment policies and restrictions, except that unlike the Fund, it may invest without limitation in Commodities Futures and Commodity-Linked Instruments.

Except as noted, for purposes of this Prospectus, references to the Funds investment strategies and risks include those of its Subsidiary. The Subsidiary will invest in Commodities Futures (or gain exposure to Commodities Futures through the use of swaps) that generally are representative of the components of the DBIQ Diversified Agriculture Index Excess Return (the Benchmark), an index composed of futures contracts on commodities drawn from the agriculture sector. Commodities represented in the Benchmark may include, but are not limited to, corn, soybeans, soybean meal, soybean oil, wheat, Kansas wheat, sugar, cocoa, coffee, cotton, live cattle, feeder cattle, and lean hogs. Not all commodities listed may be represented in the Benchmark at any given time. Although the Subsidiary generally provides exposure to the components of the Benchmark, the Fund is not an index tracking ETF and instead seeks to exceed the performance of the Benchmark.

Therefore, the Subsidiary may not seek exposure to all of the Benchmarks components or in the same proportion as the Benchmark. The Subsidiary may invest in Commodities Futures (or gain exposure to such Commodities Futures through the use of swaps) that are not included in the Benchmark, but reference a commodity represented in the Benchmark by a different futures contract. At times, the Subsidiary also may invest in agriculture Commodities Futures outside the Benchmark, invest in Commodities Futures with expirations beyond those contained in the Benchmark or emphasize some agriculture commodities more than others. The Subsidiary also invests a portion of its assets in Commodity-Linked Instruments to seek to increase its investment returns or hedge against declines in the value of its other investments.

Although the Fund does not seek leveraged returns, investing in Commodity-Linked Instruments may have a leveraging effect on the Fund. The Commodity-Linked Instruments may be exchange-traded or traded over-the-counter (OTC). Because the Fund intends to qualify as a regulated investment company (RIC) under the Internal Revenue Code of 1986, as amended (Code), the Funds investments in the Subsidiary and Commodities Futures are limited by certain requirements of the Code and related Internal Revenue Service regulations. Accordingly, the Fund (and the Subsidiary, as applicable) invests its remaining assets directly in Collateral, which consists of high-quality securities such as U.S. Treasuries, other U.S. Government obligations, money market funds, cash and cash-like equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality as the Adviser may determine) that provide liquidity, serve as margin or collateralize the Subsidiarys investments in Commodities Futures and Commodity-Linked Instruments.

The phrase No K-1 in the Funds name means that the Fund does not issue a Schedule K-1, which is the tax reporting form issued by commodities partnerships. Schedule K-1 typically presents additional complexities. Instead, like most other ETFs, the Fund reports income on Form 1099. Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in investments that provide exposure to agriculture commodities and/or agriculture commodities futures contracts.

PDBA Holdings

Top 2 holdings of Invesco Agriculture Commodity Strategy No K-1 ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

Holding% of net assets
Invesco Premier U.S. Government Money Portfolio82.25%
Invesco Liquidity Funds PLC, Invesco US Dollar Liquidity Portfolio12.28%

View all PDBA holdings

PDBA Portfolio Allocation

Asset-class allocation of Invesco Agriculture Commodity Strategy No K-1 ETF by percentage of net assets, from the latest SEC N-PORT filing.

Asset classAllocation
Cash & Equivalents94.5%
Derivatives0.5%

PDBA Performance

Total returns for PDBA (as of 2026-10-01), from SEC filings.

PeriodTotal return
YTD9.5%
1 year7.6%
3 years (annualised)14.8%

PDBA Risk Information

Risk metrics for PDBA, derived from monthly returns in SEC filings.

  • 1-year volatility (annualised): 10.2%

PDBA Costs and Fees

PDBA costs about $59 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.59%
  • Gross expense ratio: 0.75%
  • Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

PDBA Cashflows

Over the 12 months to 2026-04, Invesco Agriculture Commodity Strategy No K-1 ETF had net inflows of $226.27M, from monthly SEC N-PORT filings.

MonthNet flow
2026-04$112.73M
2026-03$114.58M
2026-02$15.61M
2026-01$6.85M
2025-12−$9.82K
2025-11$32.71K

PDBA Debt Constituents

No individual debt constituents are reported in Invesco Agriculture Commodity Strategy No K-1 ETF's latest SEC N-PORT filing.

PDBA Prospectus and SEC Filings

Official Invesco Agriculture Commodity Strategy No K-1 ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Commodity funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.