DBA: net income -$35.5M. DBA adds soybean meal/oil to index, shifts to dynamic weighting; H1 NAV +4.50% on oilseeds

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Index expanded from 11 to 13 commodities (adding soybean meal and soybean oil) and replaced fixed 1989 weights with annual liquidity-and-production-based rebalancing effective Nov 2025, fundamentally altering sector exposure.

  MD&A: Index Methodology verify on EDGAR →
• high

  First half 2026 NAV rose 4.50% vs -1.50% prior year, driven by soybean oil, soybeans, cattle, cotton and wheat gains tied to biofuel demand and China's renewed U.S. ag-product commitments following Trump-Xi summit.

  MD&A: Six-Month Performance verify on EDGAR →
• high

  Cocoa and coffee weights collapsed (cocoa 14.62% → 4.18%, coffee 12.95% → 4.13%) under new methodology while soybean oil (13.20%) and soybean meal (6.64%) now comprise nearly 20% of the portfolio.

  MD&A: Commodity Weights verify on EDGAR →