ETF Tax Center
Taxes can erode even the best fund's returns. Generally, when an investment does not require investors to pay taxes during the ownership period, the investment is potentially more tax efficient. Because of their unique structure, ETFs may serve as a tax-efficient investment tool for shareholders who wish to defer capital gains until the point of sale.
ETF Tax Resources and forms
Access comprehensive tax resources tailored for Invesco ETF funds.
Resource name |
Description |
Documents |
|---|---|---|
1099 Tax Reporting Data |
Tax information provided to brokers to support Form 1099 Reporting to shareholders. The information is posted annually and contains dividend rates and tax attributes of the Funds. | 2023 2022 2021 2020 |
Qualified Interest Income (QII) Percentages |
(QII) percentages identified as exempt from US withholding tax for non-US shareholders. |
2024 Monthly Estimates 2023 Monthly Estimates 2023 Annual Percentages |
Liquidation Designation |
Information required by the Internal Revenue Code or to meet a specific state's requirements. Final information can be found under the 1099 Tax Reporting Data. |
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DB Commodity investors |
One location to download all of your K-1s and K-3s across multiple partnerships. |
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Tax loss harvesting |
Resource on tax loss harvesting and how it can lower your tax bill. |
Invesco is committed to transparency and investor relations. This page is intended to provide education and clarity on products that issue K-1s and K-3s. However, Invesco does not issue tax advice. For additional information, please contact your tax professional.
K-1 and K-3 contact information
| Ticker | Fund name | Toll-free number |
|---|---|---|
DB Agriculture Fund |
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DB Base Metals Fund |
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DB Commodity Index Tracking Fund |
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DB Energy Fund |
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DB Oil Fund |
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DB Precious Metals Fund |
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DB US Dollar Bearish Fund |
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DB US Dollar Bullish Fund |
Generally, any capital gains, capital losses, income and expense reported to you on Schedule K-1 and K-3 needs to be included in your tax returns. Investors should consult with a tax professional.
The IRS requires an entity treated as a partnership to provide a Schedule K-1 and K-3 to each partner, regardless of the manner in which the shares are held. (Generally, if shares are held in a tax exempt account, income items on the K-1 and K-3 are not required to be reported in a federal tax return.) Investors should consult with a tax professional regarding their personal circumstances.
The Invesco DB funds are each treated as partnerships for tax purposes. The information must be reported on a Schedule K-1 and K-3.
The Invesco DB funds are Delaware statutory trusts which are treated as partnerships for U.S. tax reporting purposes. Shareholders are required to report there allocable share of income/gain/loss on an annual basis. Certain regulated futures contracts held by the funds are subject to "mark-to-market" taxation of the unrealized gains, under which contacts are treated as if they were sold by the funds at their fair market value at year end. Any resulting gain/loss must be included in a partner's share of taxable income for the year.
Investors should consult with a tax professional. In most cases, capital gains and/or losses on the sale of shares must be disclosed in a tax return. The sales schedule is the result of sales on an investment and included related adjustments to the investor's tax basis.
Investors should consult with a tax professional. This election is generally only applicable when a loss is reported on the K-1.
An investor's tax basis is typically the initial amount paid for the shares (include fees) adjusted by the total amounts of income and gain and/or the total amounts of expense, loss and distributions reports on the K-1. If an investor sold shares, the sales schedule include the total amounts of income, gain, expense, loss and distributions.
In general, cash distributions are not taxable. However, if the cumulative cash distributions received exceed your tax basis, you would have a taxable gain to report.
Invesco DB ETFs are not exposed to UBTI.
Invesco DB funds are required to obtain information regarding ownership interests bought and sold during the year. This information is usually provided in late January. The manager of the Invesco DB funds reviews the information and provides the K-1 and K-3 information as early as possible. In the past, the K-1 information has been made available before March 1st.
Tax year 2023 Schedule K-3 information will be available online by the end of June 2024. Invesco DB ETFs have no foreign sourced income. However, the information may be necessary for certain unitholders with foreign income derived from other sources or investments, or who otherwise have a requirement to report items of international tax relevance. Invesco and Invesco Distributors, Inc. and their affiliates do not provide tax advice. Please seek advice based on your particular circumstances from an independent tax advisor.
If not received in the mail, the K-1 and K-3 can be retrieved from using the "My DB K-1 and K-3 Account" link above.
The information in the K-1 and K-3 was reported to us by your broker. Please see above for the relevant K-1 and K-3 contact phone line information.
Important information
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Deutsche Bank, Invesco and their affiliates do not provide tax advice, and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of US tax matters contained herein (i) is not intended or written to be used, and cannot be used, by you for the purpose of avoiding US tax-related penalties and (ii) was written to support the promotion or marketing of the transactions or matters addressed herein. Accordingly, you should seek advice based on your particular circumstances from an independent tax adviser.
The Shares of the Funds are not deposits, interests in or obligations of any Deutsche Bank AG, Deutsche Bank AG London, Deutsche Bank Securities Inc. or any of their respective subsidiaries or affiliates or any other bank (collectively, the "DB Parties") and are not guaranteed by the DB Parties.
The indices underlying the above-referenced Invesco DB funds are products of Deutsche Bank AG and/or its affiliates. Information regarding the Index is reprinted with permission. Deutsche Bank® and DB™ are trademarks of Deutsche Bank AG. The Index and trademarks have been licensed for use for certain purposes by Invesco Capital Management LLC, an affiliate of Invesco Distributors, Inc. The above-referenced funds are not sponsored, endorsed, sold or promoted by Deutsche Bank AG, Deutsche Bank AG, London Branch, Deutsche Bank Securities Inc. or any of their affiliates ("Deutsche Bank") or third party licensors and none of such parties makes any representation, express or implied, regarding the advisability of investing in the funds, nor do such parties have any liability for errors, omissions, or interruptions in the indices. The indices are calculated and administered by Deutsche Bank without regards to the Fund.
Invesco Capital Management LLC and Invesco Distributors, Inc. are not affiliated with Deutsche Bank Securities Inc.
Shares are not individually redeemable. Owners of the Shares may acquire those Shares from the funds or tender those Shares for redemption to the Funds in Creation and Redemption units, respectively consisting of 200,000 shares.
The Invesco DB funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing. To download a copy of each Invesco DB prospectus please visit DBA, DBB, DBC, DBE, DBO, DBP, UUP and UDN.
The statements provide information to assist Invesco CurrencyShares® shareholders with reporting their taxable income, expenses, and capital gains and losses for the calendar year.
- Invesco CurrencyShares® Australian Dollar Trust: 2018, 2019, 2020, 2021, 2022, 2023
- Invesco CurrencyShares® British Pound Sterling Trust: 2018, 2019, 2020, 2021, 2022, 2023
- Invesco CurrencyShares® Canadian Dollar Trust: 2018, 2019, 2020, 2021, 2022, 2023
- Invesco CurrencyShares® Chinese Renminbi Trust: 2019, 2020, 2021
- Invesco CurrencyShares® Euro Trust: 2018, 2019, 2020, 2021, 2022, 2023
- Invesco CurrencyShares® Japanese Yen Trust: 2018, 2019, 2020, 2021, 2022, 2023
- Invesco CurrencyShares® Singapore Dollar Trust: 2019, 2020, 2021
- Invesco CurrencyShares® Swedish Krona Trust: 2019, 2020, 2021
- Invesco CurrencyShares® Swiss Franc Trust: 2018, 2019, 2020, 2021, 2022, 2023
Information related to corporate actions, including items such as mergers, fund liquidations, and reclassifications that impact cost basis reporting.
- Invesco Balanced Multi-Asset Allocation ETF: 2023
- Invesco BRIC ETF: 2020
- Invesco BulletShares 2020 Corporate Bond ETF: 2020
- Invesco BulletShares 2022 Corporate Bond ETF: 2022
- Invesco BulletShares 2023 Corporate Bond ETF: 2023A, 2023B
- Invesco BulletShares 2020 High Yield Corporate Bond ETF: 2020
- Invesco BulletShares 2023 High Yield Corporate Bond ETF: 2023
- Invesco BulletShares 2022 Municipal Bond ETF: 2022
- Invesco BulletShares 2023 Municipal Bond ETF: 2023A, 2023B
- Invesco BulletShares 2021 USD Emerging Markets Debt ETF: 2021
- Invesco BulletShares 2022 USD Emerging Markets Debt ETF: 2022
- Invesco BulletShares 2023 USD Emerging Markets Debt ETF: 2023
- Invesco BulletShares 2024 USD Emerging Markets Debt ETF: 2024
- Invesco Canadian Energy ETF: 2019
- Invesco CEF Income Composite ETF: 2023
- Invesco China All-Cap ETF: 2019
- Invesco China Real Estate ETF: 2020
- Invesco China Small Cap ETF: 2020
- Invesco Chinese Yuan Dim Sum Bond ETF: 2019
- Invesco Conservative Multi-Asset Allocation ETF: 2023
- Invesco Corporate Income Defensive ETF: 2020
- Invesco Corporate Income Value ETF: 2020
- Invesco DWA Healthcare Momentum ETF: 2023
- Invesco DWA Momentum & Low Volatility Rotation ETF: 2019
- Invesco DWA NASDAQ Momentum ETF: 2020
- Invesco DWA Tactical Multi-Asset Income ETF: 2020
- Invesco DWA Tactical Sector Rotation ETF: 2020
- Invesco DWA Technology Momentum ETF: 2023
- Invesco Dynamic Market ETF: 2023
- Invesco Dynamic Oil & Gas Services ETF: 2023
- Invesco Dynamic Retail ETF: 2020
- Invesco Dynamic Semiconductors ETF: 2023
- Invesco Dynamic Software ETF: 2023
- Invesco Emerging Markets Debt Defensive ETF: 2020
- Invesco Emerging Markets Debt Value ETF: 2020
- Invesco Emerging Markets Revenue ETF: 2020
- Invesco Emerging Markets Ultra Dividend Revenue ETF: 2020
- Invesco ESG Revenue ETF: 2020
- Invesco Focused Discovery Growth ETF: 2023
- Invesco Frontier Markets ETF: 2020
- Invesco FTSE International Low Beta Equal Weight ETF: 2023
- Invesco FTSE RAFI US 1000 ETF: 2023
- Invesco FTSE RAFI US 1500 Small-Mid ETF: 2023
- Invesco Global ESG Revenue ETF: 2020
- Invesco Global ex-US High Yield Corporate Bond ETF: 2023
- Invesco Global Listed Private Equity ETF: 2023
- Invesco Global Revenue ETF: 2020
- Invesco Global Short Term High Yield Bond ETF: 2020, 2021, 2022
- Invesco Growth Multi-Asset Allocation ETF: 2023
- Invesco High Yield Bond Factor ETF: 2022
- Invesco India ETF: 2020
- Invesco Insider Sentiment ETF: 2020
- Invesco International Corporate Bond ETF: 2019, 2022, 2023
- Invesco International Revenue ETF: 2020
- Invesco International Ultra Dividend Revenue ETF: 2020
- Invesco Investment Grade Value ETF: 2023
- Invesco LadderRite 0-5 Year Corporate Bond ETF: 2020
- Invesco Moderately Conservative Multi-Asset Allocation ETF: 2023
- Invesco MSCI Emerging Markets Equal Country Weight ETF: 2020
- Invesco MSCI Green Building ETF: 2022
- Invesco Multi-Factor Core Fixed Income ETF: 2020
- Invesco Multi-Factor Core Plus Fixed Income ETF: 2020
- Invesco Multi-Factor Defensive Core Fixed Income ETF: 2020
- Invesco Multi-Factor Income ETF: 2020
- Invesco Multi-Factor Large Cap ETF: 2019
- Invesco Multi-Strategy Alternative ETF: 2019
- Invesco NASDAQ Internet ETF: 2023
- Invesco PureBetaSM FTSE Developed ex-North America ETF: 2023
- Invesco PureBetaSM FTSE Emerging Markets ETF: 2023
- Invesco PureBetaSM MSCI USA Small Cap ETF: 2023
- Invesco PureBetaSM US Aggregate Bond ETF: 2023
- Invesco RAFI Strategic Developed Ex-US ETF: 2023
- Invesco RAFI Strategic Emerging Markets ETF: 2023
- Invesco RAFI Strategic US Small Company ETF: 2023
- Invesco RAFITM Strategic Developed ex-US Small Company ETF: 2020
- Invesco Russell 1000 Enhanced Equal Weight ETF: 2023
- Invesco Russell 1000 Low Beta Equal Weight ETF: 2023
- Invesco Russell 1000 Low Volatility Factor ETF: 2020
- Invesco Russell 1000 Momentum Factor ETF: 2020
- Invesco Russell 1000 Quality Factor ETF: 2020
- Invesco Russell 1000 Size Factor ETF: 2020
- Invesco Russell 1000 Value Factor ETF: 2020
- Invesco Russell 1000 Yield Factor ETF: 2020
- Invesco Russell 2000 Equal Weight ETF: 2019
- Invesco S&P 100 Equal Weight ETF: 2019
- Invesco S&P 500® BuyWrite ETF: 2024
- Invesco S&P 500® Value With Momentum ETF: 2019
- Invesco S&P 500® Equal Weight Consumer Discretionary ETF: 2023
- Invesco S&P 500® Equal Weight Consumer Staples ETF: 2023
- Invesco S&P 500® Equal Weight Health Care ETF: 2023
- Invesco S&P 500® Equal Weight Industrials ETF: 2023
- Invesco S&P 500® Equal Weight Materials ETF: 2023
- Invesco S&P 500® Equal Weight Technology ETF: 2023
- Invesco S&P 500® Equal Weight Utilities ETF: 2023
- Invesco S&P 500® Pure Growth ETF: 2023
- Invesco S&P 500® Top 50 ETF: 2023
- Invesco S&P Financials Revenue ETF: 2020
- Invesco S&P Global Dividend Opportunities Index ETF: 2020
- Invesco S&P High Income Infrastructure ETF: 2020
- Invesco S&P International Developed High Dividend Low Volatility ETF: 2023
- Invesco S&P MidCap 400® Pure Growth ETF: 2023
- Invesco S&P SmallCap 600 Revenue ETF: 2023
- Invesco S&P SmallCap 600® Equal Weight ETF: 2023
- Invesco S&P SmallCap 600® Pure Growth ETF: 2023
- Invesco S&P® SmallCap Consumer Staples ETF: 2023
- Invesco S&P® SmallCap Energy ETF: 2023
- Invesco S&P® SmallCap Health Care ETF: 2023
- Invesco S&P® SmallCap Information Technology ETF: 2023
- Invesco Select Growth ETF: 2023
- Invesco Senior Loan ETF: 2019, 2021
- Invesco Shipping ETF: 2020
- Invesco U.S. Large Cap Optimized Volatility ETF: 2018
- Invesco US Large Cap Core ESG ETF: 2023
- Invesco Variable Rate Investment Grade ETF: 2020
- Invesco WilderHill Progressive Energy ETF: 2019
- Invesco Wilshire Micro-Cap ETF: 2018
- Invesco Wilshire US REIT ETF: 2018
- Invesco Zacks International Multi-Asset Income ETF: 2019
- Invesco Zacks Micro Cap ETF: 2019
The notices provide estimates of each fund's current distributions.
2024
- May: Section 19a Notice
- June: Section 19a Notice
- July: Section 19a Notice
- August: Section 19a Notice, Section 19a Correction
- September: Section 19a Notice, Section 19a Correction
- October: Section 19a Notice, Section 19a Correction
- November: Section 19a Notice
Frequently asked questions
Unlike traditional mutual funds, the majority of buying and selling by shareholders takes place on an exchange and not directly with the ETF. As a result, the ETF does not need to make purchases or sales in its portfolio in response to these shareholder trades, and with a lower volume of portfolio sales there is a lower likelihood of the ETF realizing gains on its portfolio.
ETFs work directly with authorized participants (APs) which are typically large institutions to create and redeem existing fund shares typically through an "in-kind" process. APs have a legal agreement in place with an ETF trust and their custodial bank allowing them to create or redeem shares of the ETF in large blocks of shares known as creation units. When redemptions are processed "in-kind", the Fund delivers a specific basket of portfolio securities in return for the AP surrendering shares of the ETF.
Due to specific provisions of the Internal Revenue Code, an "in-kind" redemption does not result in a taxable realized gain or loss to the ETF. Thus, this structure may create a meaningfully different after-tax return experience between an ETF and another type of investment vehicle — even if both track the same index.
Please visit our resource insight for more information on tax efficiency and a pictorial representation of creation/redemption process.
What circumstances might make an ETF more likely to have capital gains distributions?
Common events that may cause an ETF to incur capital gains include:
Corporate Actions: A corporate action is an event that causes material change for a company which could affect its shareholders. With a corporate action, a Fund may be required to surrender a specific portfolio holding to the issuer, or a transaction by the issuer of the holding may result in a realized gain or loss to the Fund, despite the Fund not initiating a transaction.
Derivative instrument gains: Realizing gains on derivative instruments or collateral such as options or futures that settle or expire with a net gain to the fund.
Non-in-kind Portfolio Transactions: There may be situations where an in-kind transaction is not available or appropriate and therefore the Fund may sell securities for cash as opposed to delivering them "in-kind". These types of sales will give rise to a taxable realized gain or loss to the Fund.
View our press releases on capital gains.
ETFs that are structured as a partnership will issue K-1s and K-3s. Invesco ETFs that issue K-1s and K-3s include:
Invesco DB Agriculture Fund (DBA)
Invesco DB Base Metals Fund (DBB)
Invesco DB Commodity Index Tracking Fund (DBC)
Invesco DB Energy Fund (DBE)
Invesco DB G10 Currency Harvest Fund (DBV)
Invesco DB Gold Fund (DGL)
Invesco DB Oil Fund (DBO)
Invesco DB Precious Metal Fund (DBP)
Invesco DB Silver Fund (DBS)
Invesco DB US Dollar Bearish Fund (UDN)
Invesco DB US Dollar Bullish Fund (UUP)
Contact us for more information
If you have questions about any of the forms you've received from Invesco, please call one of our representatives at 800 983 0903.
Tax Center
Get the tax forms, guides, and information you need for your Invesco investments.
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Invesco ETFs
Explore our lineup of ETFs and see how they can be cost-effective tools for maximizing investments.
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Open-end Tax Guide
Access tax form information to help you file your tax return for open-end funds.
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Closed-end Tax Guide
Find the tax return information you need for your closed-end funds.
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There are risks involved with investing in ETFs including possible loss of money. Index–based ETFs are not actively managed. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Both index–based and actively managed ETFs are subject to risk similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply.
While it is not Invesco Invesco Capital Management LLC intention, there is no guarantee that the Funds will not distribute capital gains to its shareholders.
Invesco and Invesco Distributors, Inc. and their affiliates do not provide tax advice. Please note that (i) any discussion of U.S. tax matters contained is this communication cannot be used for the purpose of avoiding tax penalties; (ii) this communication was written to support this promotion or marketing of matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.
The information in this communication is not a complete analysis of every material aspect relating to tax harvesting. This communication is for educational purposes only. Tax consequences will vary between individuals and each individual should carefully evaluate his or her tax position with an independent advisor.
The Invesco DB and CurrencyShares Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Shares in the Invesco DB Funds are not FDIC insured, may lose value and have no bank guarantee.
