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DBA

GradeCNew York Stock Exchange Arca

Invesco DB Agriculture Fund

Commodities · Invesco · Inception 2007-01-05 · SEC filings

$28.56+0.01 (+0.04%)

As of Sep 23, 2026, 3:05 PM EDT

Intraday session: up, 68 prints from 28.55 to 28.56. Range 28.48 to 28.59. Use the arrow keys to read each point.$28.48$28.50$28.52$28.5710 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$1.4B
1Y return
+10.1%
Yield · Last 12 months
3.20%
Holdings
16
Volume · 30D
1.2M sh
NAV per share
$28.68
52W range
low $25.40high $29.52

The ETF.net DBA Grade

C

45/ 100

Rank 5 of 6 in Agriculture Futures⁠

Confidence Medium

Six-pillar profile for DBA. Scores out of 100: Cost 20, Risk 69, Mission not scored, Tradability 83, Holdings 13, Durability 77. Strongest: Tradability (83). Weakest: Holdings (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 20
    Category rank5/6 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 69
    Category rank2/6 · top 33%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 83
    Category rank1/6 · top 17%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 13
    Category rank2/3 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 77
    Category rank1/6 · top 17%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DBA

ETF.net Research

COne of the original broad agriculture funds, running since 2007: a futures basket tracking the DBIQ Diversified Agriculture index instead of a bet on one crop, wrapped in a commodity pool that sends a K-1.

Stated mandate

The fund seeks to track positive or negative changes in the DBIQ Diversified Agriculture Index Excess Return.

Why people hold it

  1. 01Launched in 2007, it is among the longest-running broad agriculture futures funds, and it stays actively traded at multi-billion-dollar size in a corner where many funds are thin.
  2. 02Diversified by design: it tracks an index of agricultural futures rather than a single crop, unlike concentrated peers such as CORN (corn) and CANE (sugar).invesco.com
  3. 03Exposure comes from commodity futures, not farm-sector stocks, so the fund follows crop prices rather than the equity market.invesco.com

Worth knowing

  1. 01The 0.90% expense ratio runs above the group median of 0.75%, and Invesco's own no-K-1 agriculture fund, PDBA, carries 0.75%.
  2. 02It is a commodity pool partnership, so tax time means a Schedule K-1 rather than a 1099.invesco.com
  3. 03The benchmark is an excess-return futures index, not spot crop prices, and any cash payouts come annually or semiannually rather than on a monthly schedule.

DBA Holdings

As of Sep 20, 2026, 1:44 PM
Asset class
Other
Holdings
16
Top-10 weight
164%
Largest holding
AGPXX87.7%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AGPXXInvesco Government & Agency Portfolio87.75%1,168,286,729$1.2B239
002—CBOT Soybean Future 11/13/202614.92%3,047$199M2
003—CBOT Corn Future 09/14/202714.62%7,449$195M2
004TBLLInvesco Short Term Treasury ETF9.01%1,133,800$120M5
005—CBOT Wheat Future 07/14/20277.59%2,740$101M2
006—CBOT Soybean Oil Future 12/14/20266.87%2,235$91M2
007—KCBT Hard Red Winter Wheat Future 07/14/20276.29%2,107$84M2
008—NYBOT CSC Number 11 World Sugar Future 06/30/20275.91%4,031$79M2
009—NYBOT CTN Number 2 Cotton Future 12/08/20265.78%1,896$77M2
010—CBOT Soybean Meal Future 12/14/20265.31%1,970$71M2
011—NYBOT CSC C Coffee Future 12/18/20264.08%517$54M2
012—CASH COLLATERAL2.00%26,670,139$27M20
013—CASH & EQUIVALENTS1.07%14,292,559$14M74
014—USD Pending Dividends0.17%0$2M240

Showing 1–14 of 14 holdings

DBA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DBA$11,014
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DBA $11,014. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DBA. Periods over one year show the average yearly return.
PeriodDBA
Year to date+11.9%
1 month+0.8%
3 months+7.1%
1 year+10.1%
3 years+13.8%per year
5 years+11.7%per year
10 years+4.9%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DBA
YearReturn barDBA
2026 YTD+11.9%
2025−0.6%
2024+33.5%
2023+7.6%
2022+2.5%
2021+22.4%
2020−2.5%

DBA in the news

DBA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.20%Last 12 months
Payout per share
$0.91Last 12 months
Last payment
$0.91 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 24, 2018 $0.18; Dec 23, 2019 $0.26; Dec 19, 2022 $0.10; Dec 18, 2023 $0.96; Dec 23, 2024 $1.08; Dec 22, 2025 $0.91. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.91
Dec 23, 2024Dec 27, 2024$1.08
Dec 18, 2023Dec 22, 2023$0.96
Dec 19, 2022Dec 23, 2022$0.10
Dec 23, 2019Dec 31, 2019$0.26
Dec 24, 2018Dec 31, 2018$0.18
Dec 15, 2008Data unavailable$0.45
Dec 17, 2007Data unavailable$0.45

DBA Risk

How much the fund’s monthly returns vary, scaled to a year.
12.4%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.83
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−15.9%
Trough Jul 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.33
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DBA Cost

Expense ratio0.90%
  • The middle half of Agriculture Futures funds
  • Median 0.68%

Every other Agriculture Futures fund charges less.

DBA costs $90.00 a year on $10,000. The median Agriculture Futures fund costs $68.00.