Invesco DB Oil Fund (DBO) 10-K 1 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Jan. 31, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	DBO
Entity Registrant Name	PowerShares DB Oil Fund
Entity Central Index Key	1,383,058
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		46,000,000
Entity Public Float			$ 467,160,000

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Dec. 31, 2016	Dec. 31, 2015
Assets
United States Treasury Obligations, at value (cost $438,609,436 and $372,481,672, respectively)		$ 438,601,879	$ 372,479,154
Affiliated investments, at value and cost		14,942,839
Total Investments, at value (cost $453,552,275 and $372,481,672, respectively)		453,544,718	372,479,154
Cash held by custodian	[1],[2]		32,179,166
Receivable for:
Variation margin			5,694,320
Dividends from affiliates		3,707
Total assets		453,548,425	410,352,640
Payable for:
Variation margin		496,980
Due to custodian		500
Management fee		288,397	278,574
Brokerage commissions and fees		4,894	3,469
Total liabilities		790,771	282,043
Commitments and Contingencies (Note 9)
Equity
Shareholder's equity—General Shares		387	363
Shareholders' equity—Shares		452,757,267	410,070,234
Total shareholders' equity		452,757,654	410,070,597
Total liabilities and equity		$ 453,548,425	$ 410,352,640
General Shares outstanding		40	40
Shares outstanding		46,800,000	45,200,000
Net asset value per share		$ 9.67	$ 9.07
Market value per share		$ 9.68	$ 9.08
[1]	Cash at December 31, 2014 and prior reflects cash held by the Predecessor Commodity Broker.
[2]	Cash at December 31, 2016 and 2015 reflects cash held by the Custodian.

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Investments, cost	$ 453,552,275	$ 372,481,672
US Treasury Bill Securities [Member]
Investments, cost	$ 438,609,436	$ 372,481,672

Schedule of Investments - Treas

Schedule of Investments - Treasury Bills and Money Market Fund - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity		100.17%
Value		$ 438,601,879	$ 372,479,154
Affiliated investments, at value and cost		14,942,839
Total Investments		453,544,718	372,479,154
Investments, cost		$ 453,552,275	$ 372,481,672
U.S. Treasury Bills, 0.490% due January 19, 2017 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]	9.50%
Value	[1]	$ 42,992,217
Principal Value	[1]	$ 43,000,000
Investment Interest Rate	[1]	0.49%
Investment Maturity Date	[1]	Jan. 19, 2017
U.S. Treasury Bills, 0.485% due January 26, 2017 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]	25.17%
Value	[1]	$ 113,970,018
Principal Value	[1]	$ 114,000,000
Investment Interest Rate	[1]	0.485%
Investment Maturity Date	[1]	Jan. 26, 2017
U.S. Treasury Bills, 0.490% due March 2, 2017 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]	36.41%
Value	[1]	$ 164,873,775
Principal Value	[1]	$ 165,000,000
Investment Interest Rate	[1]	0.49%
Investment Maturity Date	[1]	Mar. 2, 2017
U.S. Treasury Bills, 0.530% due April 6, 2017 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]	7.06%
Value	[1]	$ 31,956,864
Principal Value	[1]	$ 32,000,000
Investment Interest Rate	[1]	0.53%
Investment Maturity Date	[1]	Apr. 6, 2017
U.S. Treasury Bills, 0.625% due May 18, 2017 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1],[2]	18.73%
Value	[1],[2]	$ 84,809,005
Principal Value	[1],[2]	$ 85,000,000
Investment Interest Rate	[1],[2]	0.625%
Investment Maturity Date	[1],[2]	May 18, 2017
Restricted for maintenance margin		$ 54,873,500
United States Treasury Obligations [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]	96.87%	90.83%
Value	[1]	$ 438,601,879	$ 372,479,154
Investments, cost	[1]	$ 438,609,436	$ 372,481,672
Money Market Mutual Fund [Member] | Premier U.S. Government Money Portfolio - Institutional Class [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[3]	3.30%
Affiliated investments, at value and cost	[3]	$ 14,942,839
Shares	[3]	14,942,839
Investment Interest Rate	[3]	0.41%
Investments, cost	[3]	$ 14,942,839
U.S. Treasury Bills, 0.235% due January 7, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		8.53%
Value	[1]		$ 34,999,860
Principal Value	[1]		$ 35,000,000
Investment Interest Rate	[1]		0.235%
Investment Maturity Date	[1]		Jan. 7, 2016
U.S. Treasury Bills, 0.205% due January 14, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		21.34%
Value	[1]		$ 87,497,550
Principal Value	[1]		$ 87,500,000
Investment Interest Rate	[1]		0.205%
Investment Maturity Date	[1]		Jan. 14, 2016
U.S. Treasury Bills, 0.195% due January 21, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1],[4]		20.73%
Value	[1],[4]		$ 84,996,515
Principal Value	[1],[4]		$ 85,000,000
Investment Interest Rate	[1],[4]		0.195%
Investment Maturity Date	[1],[4]		Jan. 21, 2016
U.S. Treasury Bills, 0.200% due February 4, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		13.41%
Value	[1]		$ 54,995,710
Principal Value	[1]		$ 55,000,000
Investment Interest Rate	[1]		0.20%
Investment Maturity Date	[1]		Feb. 4, 2016
U.S. Treasury Bills, 0.170% due January 28, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1],[4]		21.34%
Value	[1],[4]		$ 87,492,825
Principal Value	[1],[4]		$ 87,500,000
Investment Interest Rate	[1],[4]		0.17%
Investment Maturity Date	[1],[4]		Jan. 28, 2016
U.S. Treasury Bills, 0.135% due February 11, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		1.46%
Value	[1]		$ 5,999,208
Principal Value	[1]		$ 6,000,000
Investment Interest Rate	[1]		0.135%
Investment Maturity Date	[1]		Feb. 11, 2016
U.S. Treasury Bills, 0.145% due February 18, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		1.83%
Value	[1]		$ 7,499,010
Principal Value	[1]		$ 7,500,000
Investment Interest Rate	[1]		0.145%
Investment Maturity Date	[1]		Feb. 18, 2016
U.S. Treasury Bills, 0.140% due February 25, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		0.73%
Value	[1]		$ 2,999,706
Principal Value	[1]		$ 3,000,000
Investment Interest Rate	[1]		0.14%
Investment Maturity Date	[1]		Feb. 25, 2016
U.S. Treasury Bills, 0.280% due March 10, 2016 [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity	[1]		1.46%
Value	[1]		$ 5,998,770
Principal Value	[1]		$ 6,000,000
Investment Interest Rate	[1]		0.28%
Investment Maturity Date	[1]		Mar. 10, 2016
U.S. Treasury Bills, 0.195% due January 21, 2016 and U.S. Treasury Bills, 0.170% due January 28, 2016 [Member]
Schedule of Investments [Line Items]
Restricted for maintenance margin			$ 95,990,400
[1]	Security may be traded on a discount basis. The interest rate shown represents the discount rate at the most recent auction date of the security prior to year end.
[2]	United States Treasury Obligations of $54,873,500 are on deposit with the Commodity Broker and held as maintenance margin for open futures contracts.
[3]	The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of December 31, 2016.
[4]	United States Treasury Obligations of $95,990,400 are on deposit with the Commodity Broker and held as maintenance margin for open futures contracts.

Schedule of Investments - Futur

Schedule of Investments - Futures Contracts - Futures [Member]		12 Months Ended
		Dec. 31, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity		23.31%	(45.15%)
Unrealized Appreciation/ (Depreciation)	[1]	$ 105,525,095	$ (185,157,240)
Notional Value		$ 452,748,780	$ 410,098,480
WTI Crude Oil [Member] | CME SWAPS MARKETS (NYMEX) [Member]
Schedule of Investments [Line Items]
Percentage of Shareholders' Equity		23.31%	(45.15%)
Unrealized Appreciation/ (Depreciation)	[1]	$ 105,525,095	$ (185,157,240)
Notional Value		$ 452,748,780	$ 410,098,480
Number of Contracts | Contract		8,283	10,744
Maturity Date		Feb. 21, 2017	Feb. 22, 2016
[1]	Unrealized appreciation/ (depreciation) is presented above, net by contract.

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income
Interest Income		$ 1,209,378	$ 123,536	$ 104,628
Dividends from Affiliates		26,354
Total Income		1,235,732	123,536	104,628
Expenses
Management Fee		3,295,092	3,843,464	2,065,309
Brokerage Commissions and Fees		98,360	174,592	77,150
Interest Expense	[1]	28,626	19,864
Total Expenses		3,422,078	4,037,920	2,142,459
Less: Waivers		(14,569)
Net Expenses		3,407,509	4,037,920	2,142,459
Net Investment Income (Loss)		(2,171,777)	(3,914,384)	(2,037,831)
Net Realized Gain (Loss) on
United States Treasury Obligations		1,974	(1,486)	3,806
Commodity Futures Contracts		(240,714,315)	(95,881,678)	(60,962,520)
Net Realized Gain (Loss)		(240,712,341)	(95,883,164)	(60,958,714)
Net Change in Unrealized Gain (Loss) on
United States Treasury Obligations		(5,039)	(9,837)	(5,942)
Commodity Futures Contracts		290,682,335	(125,969,790)	(73,797,040)
Net Change in Unrealized Gain (Loss)		290,677,296	(125,979,627)	(73,802,982)
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts		49,964,955	(221,862,791)	(134,761,696)
Net Income (Loss)		$ 47,793,178	$ (225,777,175)	$ (136,799,527)
[1]	Interest Expense for the years ended December 31, 2016 and 2015 represents interest expense on overdraft balances. These amounts are included in Interest Income for the year ended December 31, 2014.

Statement of Changes in Shareho

Statement of Changes in Shareholders' Equity - USD ($)	Total	General Shares [Member]	Shares [Member]
Balance - Value at Dec. 31, 2013	$ 310,153,956	$ 1,108	$ 310,152,848
Balance - Shares at Dec. 31, 2013		40	11,200,000
Purchases of Shares - Value	213,137,142		$ 213,137,142
Purchases of Shares - Shares			10,400,000
Redemption of Shares - Value	(107,245,689)		$ (107,245,689)
Redemption of Shares - Shares			(3,600,000)
Net Increase (Decrease) due to Share Transactions, value	105,891,453		$ 105,891,453
Net Increase (Decrease) due to Share Transactions, shares			6,800,000
Net Income (Loss)
Net Investment Income (Loss)	(2,037,831)	$ (7)	$ (2,037,824)
Net Realized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	(60,958,714)	(218)	(60,958,496)
Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	(73,802,982)	(263)	(73,802,719)
Net Income (Loss)	(136,799,527)	(488)	(136,799,039)
Net Change in Shareholders' Equity, value	(30,908,074)	(488)	$ (30,907,586)
Net Change in Shareholders' Equity, shares			6,800,000
Balance - Value at Dec. 31, 2014	279,245,882	$ 620	$ 279,245,262
Balance - Shares at Dec. 31, 2014		40	18,000,000
Purchases of Shares - Value	530,239,846		$ 530,239,846
Purchases of Shares - Shares			41,600,000
Redemption of Shares - Value	(173,637,956)		$ (173,637,956)
Redemption of Shares - Shares			(14,400,000)
Net Increase (Decrease) due to Share Transactions, value	356,601,890		$ 356,601,890
Net Increase (Decrease) due to Share Transactions, shares			27,200,000
Net Income (Loss)
Net Investment Income (Loss)	(3,914,384)	$ (5)	$ (3,914,379)
Net Realized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	(95,883,164)	(109)	(95,883,055)
Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	(125,979,627)	(143)	(125,979,484)
Net Income (Loss)	(225,777,175)	(257)	(225,776,918)
Net Change in Shareholders' Equity, value	130,824,715	(257)	$ 130,824,972
Net Change in Shareholders' Equity, shares			27,200,000
Balance - Value at Dec. 31, 2015	410,070,597	$ 363	$ 410,070,234
Balance - Shares at Dec. 31, 2015		40	45,200,000
Purchases of Shares - Value	157,691,418		$ 157,691,418
Purchases of Shares - Shares			20,600,000
Redemption of Shares - Value	(162,797,539)		$ (162,797,539)
Redemption of Shares - Shares			(19,000,000)
Net Increase (Decrease) due to Share Transactions, value	(5,106,121)		$ (5,106,121)
Net Increase (Decrease) due to Share Transactions, shares			1,600,000
Net Income (Loss)
Net Investment Income (Loss)	(2,171,777)	$ (1)	$ (2,171,776)
Net Realized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	(240,712,341)	(121)	(240,712,220)
Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	290,677,296	146	290,677,150
Net Income (Loss)	47,793,178	24	47,793,154
Net Change in Shareholders' Equity, value	42,687,057	24	$ 42,687,033
Net Change in Shareholders' Equity, shares			1,600,000
Balance - Value at Dec. 31, 2016	$ 452,757,654	$ 387	$ 452,757,267
Balance - Shares at Dec. 31, 2016		40	46,800,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net Income (Loss)		$ 47,793,178	$ (225,777,175)	$ (136,799,527)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Cost of securities purchased		(1,811,383,546)	(1,957,667,461)	(1,175,908,099)
Proceeds from securities sold and matured		1,746,467,134	1,855,291,568	1,195,996,218
Net sales (purchases) of affiliated investments		(14,942,839)
Net accretion of discount on United States Treasury Obligations		(1,209,378)	(123,536)	(106,706)
Net realized (gain) loss on United States Treasury Obligations		(1,974)	1,486	(3,806)
Net change in unrealized (gain) loss on United States Treasury Obligations and Commodity Futures Contracts		5,039	125,979,627	73,802,982
Cash transfer to Commodity Broker to satisfy variation margin requirements (Note 4)			3,341,590
Cash received (paid) to Commodity Broker to satisfy open variation margin, net (Note 4)			(188,498,830)
Change in operating receivables and liabilities:
Variation margin		6,191,300	(5,694,320)
Dividends from affiliates		(3,707)
Management fee		9,823	111,574	(37,335)
Brokerage commissions and fees		1,425	(1,197)	1,686
Net cash provided by (used for) operating activities		(27,073,545)	(393,036,674)	(43,054,587)
Cash flows from financing activities:
Proceeds from purchases of Shares		157,691,418	530,239,846	213,137,142
Redemption of Shares		(162,797,539)	(173,637,956)	(107,245,689)
Increase in payable for amount due to custodian, net		500
Net cash provided by (used for) financing activities		(5,105,621)	356,601,890	105,891,453
Net change in cash		(32,179,166)	(36,434,784)	62,836,866
Cash at beginning of period	[1],[2]	32,179,166	68,613,950	5,777,084
Cash at end of period	[1],[2]		32,179,166	68,613,950
Supplemental disclosure of cash flow information
Cash paid for interest		$ 28,626	$ 19,864	$ 2,078
[1]	Cash at December 31, 2014 and prior reflects cash held by the Predecessor Commodity Broker.
[2]	Cash at December 31, 2016 and 2015 reflects cash held by the Custodian.

Background

Background	12 Months Ended
	Dec. 31, 2016
Text Block [Abstract]
Background	(1) Background On October 24, 2014, DB Commodity Services LLC, a Delaware limited liability company (“DBCS”), DB U.S. Financial Markets Holding Corporation (“DBUSH”) and Invesco PowerShares Capital Management LLC (“Invesco”) entered into an Asset Purchase Agreement (the “Agreement”). DBCS is a wholly-owned subsidiary of DBUSH. DBCS agreed to transfer and sell to Invesco all of DBCS’ interest in the PowerShares DB Oil Fund (the “Fund”), a separate series of PowerShares DB Multi-Sector Commodity Trust (the “Trust”), a Delaware statutory trust organized in seven separate series, including the sole and exclusive power to direct the business and affairs of the Trust and the Fund, as well as certain other assets pertaining to the management of the Trust and the Fund, pursuant to the terms and conditions of the Agreement (the “Transaction”). The Transaction was consummated on February 23, 2015 (the “Closing Date”). Invesco now serves as the managing owner (the “Managing Owner”), commodity pool operator and commodity trading advisor of the Trust and the Fund, in replacement of DBCS (the “Predecessor Managing Owner”).

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	(2) Organization The Fund is a separate series of the Trust. The Trust is a Delaware statutory trust organized in seven separate series and was formed on August 3, 2006. The Predecessor Managing Owner seeded the Fund with a capital contribution of $1,000 in exchange for 40 General Shares of the Fund. The General Shares were sold to the Managing Owner by the Predecessor Managing Owner pursuant to the terms of the Agreement. The fiscal year end of the Fund is December 31st. The term of the Fund is perpetual (unless terminated earlier in certain circumstances) as provided for in the Fifth Amended and Restated Declaration of Trust and Trust Agreement of the Trust, as amended (the “Trust Agreement”). The Fund has an unlimited number of shares authorized for issuance. The Fund offers common units of beneficial interest (the “Shares”) only to certain eligible financial institutions (the “Authorized Participants”) in one or more blocks of 200,000 Shares, called a Basket. The Fund commenced investment operations on January 3, 2007. The Fund commenced trading on the American Stock Exchange (which became the NYSE Alternext US LLC (the “NYSE Alternext”)) on January 5, 2007 and, as of November 25, 2008, is listed on the NYSE Arca, Inc. (the “NYSE Arca”). This Annual Report (the “Report”) covers the years ended December 31, 2016, 2015 and 2014(herein referred to as the “Year Ended December 31, 2016” ,the “Year Ended December 31, 2015” and the “Year Ended December 31, 2014”, respectively). The Fund’s performance information from inception up to and excluding the Closing Date is a reflection of the performance associated with the Predecessor Managing Owner. The Managing Owner has served as managing owner of the Fund since the Closing Date, and the Fund’s performance information since the Closing Date is a reflection of the performance associated with the Managing Owner. Past performance of the Fund is not necessarily indicative of future performance.

Fund Investment Overview

Fund Investment Overview	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Fund Investment Overview	(3) Fund Investment Overview The Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return™ (the “DBIQ-OY CL ER™”, or the “Index”) over time, plus the excess, if any, of the sum of the Fund’s interest income from its holdings of United States Treasury Obligations (“Treasury Income”) and dividends from its holdings in money market mutual funds (affiliated or otherwise) (“Money Market Income”) over the expenses of the Fund. Additionally, the Fund may also gain an exposure to United States Treasury Obligations through an investment in exchange-traded funds (affiliated or otherwise) that track indexes that measure the performance of United States Treasury Obligations with a maximum remaining maturity of up to 12 months (“T-Bill ETFs”), and the Fund may receive dividends or distributions of capital gains from such investment in T-Bill ETFs (“T-Bill ETF Income”). For the avoidance of doubt, the Fund invests in futures contracts in an attempt to track its Index. The Fund holds United States Treasury Obligations, money market mutual funds and may, in the future, hold T-Bill ETFs for margin and/or cash management purposes only. The Index is intended to reflect the change in market value of the crude oil sector. The single commodity comprising the Index is Light Sweet Crude Oil (WTI) (the “Index Commodity”). The Commodity Futures Trading Commission (the “CFTC”) and/or commodity exchanges, as applicable, impose position limits on market participants trading in the commodity included in the Index. The Index is comprised of futures contracts on the Index Commodity that expire in a specific month and trade on a specific exchange (the “Index Contracts”). If the Managing Owner determines in its commercially reasonable judgment that it has become impracticable or inefficient for any reason for the Fund to gain full or partial exposure to the Index Commodity by investing in the Index Contract, the Fund may invest in a futures contract referencing the Index Commodity other than the specific contract that comprises the Index or, in the alternative, invest in other futures contracts not based on the Index Commodity if, in the commercially reasonable judgment of the Managing Owner, such futures contracts tend to exhibit trading prices that correlate with a futures contract that comprises the Index. Should the Fund approach or reach position limits with respect to certain futures contracts comprising the Index, the Fund will commence investing in other futures contracts based on the commodity that comprises the Fund’s Index and in futures contracts based on commodities other than the commodity that comprises the Fund’s Index.

Service Providers and Related P

Service Providers and Related Party Agreements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Service Providers and Related Party Agreements	(4) Service Providers and Related Party Agreements The Trustee Under the Trust Agreement, Wilmington Trust Company, the trustee of the Trust and the Fund (the “Trustee”), has delegated to the Managing Owner the exclusive management and control of all aspects of the business of the Trust and the Fund. The Trustee will have no duty or liability to supervise or monitor the performance of the Managing Owner, nor will the Trustee have any liability for the acts or omissions of the Managing Owner. The Managing Owner The Managing Owner serves as the Fund’s commodity pool operator, commodity trading advisor and managing owner. The Fund pays the Managing Owner a management fee, monthly in arrears, in an amount equal to 0.75% per annum of the daily net asset value of the Fund (the “Management Fee”). From inception up to and excluding the Closing Date, all Management Fees were payable to the Predecessor Managing Owner. The Managing Owner has served as managing owner of the Fund since the Closing Date and all Management Fee accruals since the Closing Date have been paid to the Managing Owner. The Fund may, for cash management purposes, invest in money market mutual funds that are managed by affiliates of the Managing Owner. The indirect portion of the management fee that the Fund may incur through such investment is in addition to the Management Fee paid to the Managing Owner. The Managing Owner has contractually agreed to waive the fees that it receives in an amount equal to the indirect management fees that the Fund incurs through its investments in affiliated money market mutual funds through June 30, 2018. The Fund may invest in affiliated T-Bill ETFs. The Managing Owner expects to enter into a similar agreement with respect to any indirect management fees incurred by the Fund through such investment in affiliated T-Bill ETFs, if any. The Managing Owner waived fees of $14,569 for the Year Ended December 31, 2016. The Commodity Broker Effective as of the Closing Date, Morgan Stanley & Co. LLC, a Delaware limited liability company, serves as the Fund’s futures clearing broker (the “Commodity Broker”). Deutsche Bank Securities Inc. (“DBSI”), a Delaware corporation, served as the Fund’s futures clearing broker up to and excluding the Closing Date (the “Predecessor Commodity Broker”). DBSI is an indirect wholly-owned subsidiary of Deutsche Bank AG and is an affiliate of the Predecessor Managing Owner. A variety of executing brokers execute futures transactions on behalf of the Fund. Such executing brokers give-up all such transactions to the Commodity Broker. In its capacity as clearing broker, the Commodity Broker may execute or receive transactions executed by others and clears all of the Fund’s futures transactions and performs certain administrative and custodial services for the Fund. The Commodity Broker is responsible, among other things, for providing periodic accountings of all dealings and actions taken by the Trust on behalf of the Fund during the reporting period, together with an accounting of all securities, cash or other indebtedness or obligations held by it or its nominees for or on behalf of the Fund. For the avoidance of doubt, from inception up to and excluding the Closing Date, commission payments were paid to the Predecessor Commodity Broker. The Commodity Broker has served as the Fund’s futures clearing broker since the Closing Date and all commission accruals since the Closing Date have been paid to the Commodity Broker. The Administrator, Custodian and Transfer Agent The Bank of New York Mellon (the “Administrator” and “Custodian”) is the administrator, custodian and transfer agent of the Fund. The Fund and the Administrator have entered into separate administrative, custodian, transfer agency and service agreements (collectively referred to as the “Administration Agreement”). Pursuant to the Administration Agreement, the Administrator performs or supervises the performance of services necessary for the operation and administration of the Fund (other than making investment decisions), including receiving and processing orders from Authorized Participants to create and redeem Baskets, net asset value calculations, accounting and other fund administrative services. The Administrator maintains certain financial books and records, including: Basket creation and redemption books and records, fund accounting records, ledgers with respect to assets, liabilities, capital, income and expenses, the registrar, transfer journals and related details, and trading and related documents received from the Commodity Broker. The Managing Owner pays the Administrator fees for its services out of the Management Fee. As of December 31, 2014, the Fund held $68,613,950 of cash and $280,990,311 of United States Treasury Obligations at the Predecessor Commodity Broker. In conjunction with the Transaction, during the three-day period from February 24, 2015 to February 26, 2015, the Fund transferred $21,627,202 of cash and $470,990,982 of United States Treasury Obligations from the Predecessor Commodity Broker to the Custodian. Additionally, during that same three-day period, the Fund transferred all of its open positions of commodity futures contracts from the Predecessor Commodity Broker to the Commodity Broker and accordingly, $3,341,590 of futures variation margin was credited to the Commodity Broker account. $67,993,200 of United States Treasury Obligations was also transferred from the Custodian to the Commodity Broker to satisfy maintenance margin requirements. Effective February 26, 2015, the Managing Owner began transferring cash daily from the Custodian to the Commodity Broker to satisfy the previous day’s variation margin on open futures contracts. The Distributor Effective June 20, 2016, Invesco Distributors, Inc. (the “Distributor”) became distributor and began providing certain distribution services to the Fund. Pursuant to the Distribution Services Agreement among the Managing Owner, the Fund and the Distributor, the Distributor assists the Managing Owner and the Administrator with certain functions and duties relating to distribution and marketing services to the Fund including reviewing and approving marketing materials. Prior to June 20, 2016, ALPS Distributors, Inc. provided distribution services to the Fund. The Managing Owner pays the Distributor a distribution fee out of the Management Fee. Index Sponsor Effective as of the Closing Date, the Managing Owner, on behalf of the Fund, has appointed Deutsche Bank Securities Inc. to serve as the index sponsor (the “Index Sponsor”). Prior to the Closing Date, the index sponsor was Deutsche Bank AG London. The Index Sponsor calculates and publishes the daily index levels and the indicative intraday index levels. Additionally, the Index Sponsor also calculates the indicative value per Share of the Fund throughout each business day. The Managing Owner pays the Index Sponsor a licensing fee and an index services fee out of the Management Fee for performing its duties. Marketing Agent Effective as of the Closing Date, the Managing Owner, on behalf of the Fund, has appointed Deutsche Bank Securities Inc. as the marketing agent (the “Marketing Agent”) to assist the Managing Owner by providing support to educate institutional investors about the DBIQ indices and to complete governmental or institutional due diligence questionnaires or requests for proposals related to the DBIQ indices. The Managing Owner pays the Marketing Agent a marketing services fee out of the Management Fee. The Marketing Agent will not open or maintain customer accounts or handle orders for the Fund. The Marketing Agent has no responsibility for the performance of the Fund or the decisions made or actions taken by the Managing Owner.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(5) Summary of Significant Accounting Policies (a) Basis of Presentation The financial statements of the Fund have been prepared using U.S. generally accepted accounting principles (“U.S. GAAP”). The Fund has determined that it meets the definition of an investment company and has prepared the financial statements in conformity with U.S. GAAP for investment companies in conformity with the accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946—Investment Companies. (b) Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. Actual results could differ from those estimates. (c) Financial Instruments and Fair Value Investment transactions are recorded in the Statements of Financial Condition on a trade date basis at fair value with changes in fair value recognized in earnings in each period. U.S. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. U.S. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods or market conditions may result in transfers in or out of an investment’s assigned level: Level 1—Prices are determined using quoted prices in an active market for identical assets. Level 2—Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. Level 3—Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. United States Treasury Obligations are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as developments related to specific securities, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. All debt obligations involve some risk of default with respect to interest and/or principal payments. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. When market closing prices are not available, the Managing Owner may value an asset of the Fund pursuant to policies the Managing Owner has adopted, which are consistent with normal industry standards. The levels assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. The following is a summary of the tiered valuation input levels as of December 31, 2016: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 438,601,879 $ — $ 438,601,879 Money Market Mutual Fund 14,942,839 — — 14,942,839 14,942,839 438,601,879 — 453,544,718 Commodity Futures Contracts (a) 105,525,095 — — 105,525,095 Total Investments $ 120,467,934 $ 438,601,879 $ — $ 559,069,813 (a) Unrealized appreciation (depreciation). The following is a summary of the tiered valuation input levels as of December 31, 2015: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 372,479,154 $ — $ 372,479,154 Commodity Futures Contracts (a) (185,157,240 ) — — (185,157,240 ) Total Investments $ (185,157,240 ) $ 372,479,154 $ — $ 187,321,914 (a) Unrealized appreciation (depreciation). (d) Deposits with Commodity Broker and Custodian The Fund deposits cash and United States Treasury Obligations with its Commodity Broker subject to CFTC regulations and various exchange and broker requirements. The combination of the Fund’s deposits with its Commodity Broker of cash and United States Treasury Obligations and the unrealized profit or loss on open futures contracts represents the Fund’s overall equity in its broker trading account. To meet the Fund’s maintenance margin requirements, the Fund holds United States Treasury Obligations. The Fund transfers cash to the Commodity Broker to satisfy variation margin requirements. The Fund earns interest on any excess cash deposited with the Commodity Broker and incurs interest expense on any deficit balance with the Commodity Broker. The Fund’s remaining cash, United States Treasury Obligations and money market mutual fund holdings are on deposit with its Custodian. The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with the Custodian. Such balances, if any at period-end, are shown on the Statement of Financial Condition under the payable caption Due to Custodian. The Fund defines cash and cash equivalents to be cash and other highly liquid investments, with original maturities of three months or less when purchased. (e) Investment Transactions and Investment Income Investment transactions are accounted for on a trade date basis. Realized gains (losses) from the sale or disposition of securities or derivatives are determined on a specific identification basis and recognized in the Statements of Income and Expenses in the period in which the contract is closed or the sale or disposition occurs, respectively. Interest income on United States Treasury Obligations is recognized on an accrual basis when earned. Premiums and discounts are amortized or accreted over the life of the United States Treasury Obligations. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. (f) Receivable/ (Payable) for Shares Issued and Redeemed On any business day, an Authorized Participant may place an order to create or redeem Shares of the Fund. Cash settlement occurs at the creation order settlement date or the redemption order settlement date as discussed in Note 7. (g) Cash Held by Commodity Broker The Fund’s arrangement with the Commodity Broker requires the Fund to meet its variation margin requirement related to the price movements on futures contracts held by the Fund by maintaining cash on deposit with the Commodity Broker. The Fund assesses its variation margin requirements on a daily basis by recalculating the change in value of the futures contracts based on price movements. Subsequent cash payments are made or received by the Fund each business day depending on whether unrealized gains or losses are incurred on the futures contracts. Effective February 24, 2015, only the current day’s variation margin receivable or payable is disclosed as an asset or liability on the Statements of Financial Condition. (h) Income Taxes The Fund is classified as a partnership for U.S. federal income tax purposes. Accordingly, the Fund will generally not incur U.S. federal income taxes. No provision for federal, state, and local income taxes has been made in the accompanying financial statements, as investors are individually liable for income taxes, if any, on their allocable share of the Fund’s income, gain, loss, deductions and other items. The Managing Owner has reviewed all of the Fund’s open tax years and major jurisdictions and concluded that there is no tax liability resulting from unrecognized tax benefits relating to uncertain tax positions taken or expected to be taken in future tax returns. The Fund is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. On an ongoing basis, the Managing Owner will monitor the Fund’s tax positions taken under the interpretation (and consult with its tax counsel from time to time when appropriate) to determine if adjustments to conclusions are necessary based on factors including, but not limited to, on-going analysis of tax law, regulation, and interpretations thereof. The major tax jurisdiction for the Fund and the earliest tax year subject to examination: United States, 2013. (i) Commodity Futures Contracts The Fund utilizes derivative instruments to achieve its investment objective. A futures contract is an agreement between counterparties to purchase or sell a specified underlying security or index for a specified price at a future date. All of the Fund’s commodity futures contracts are held and used for trading purposes. During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as a receivable or payable on the Statements of Financial Condition. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund’s basis in the contract. Realized gains (losses) and changes in unrealized appreciation (depreciation) on open positions are determined on a specific identification basis and recognized in the Statements of Income and Expenses in the period in which the contract is closed or the changes occur, respectively. The Fair Value of Derivative Instruments is as follows: December 31, 2016 2015 Risk Exposure/Derivative Type (a) Assets Liabilities Assets Liabilities Commodity risk Commodity Futures Contracts $ 105,525,095 $ — $ — $ (185,157,240 ) (a) Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the December 31, 2016 and 2015 Statements of Financial Condition. The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows: Location of Gain or (Loss) on Derivatives For the Years Ended December 31, Risk Exposure/Derivative Type Recognized in Income 2016 2015 2014 Commodity risk Commodity Futures Contracts Net Realized Gain (Loss) $ (240,714,315 ) $ (95,881,678 ) $ (60,962,520 ) Net Change in Unrealized Gain (Loss) 290,682,335 (125,969,790 ) (73,797,040 ) Total $ 49,968,020 $ (221,851,468 ) $ (134,759,560 ) The table below summarizes the average monthly notional value of futures contracts outstanding during the period: Years Ended December 31, 2016 2015 2014 Average Notional Value $ 441,139,713 $ 514,600,121 $ 289,615,233 The brokerage agreement with the Commodity Broker provides for the net settlement of all financial instruments covered by the agreement in the event of default or termination of any one contract. The Managing Owner will utilize any excess cash held at the Commodity Broker to offset any realized losses incurred in the commodity futures contracts, if available. To the extent that any excess cash held at the Commodity Broker is not adequate to cover any realized losses, a portion of the United States Treasury Obligations on deposit with the Commodity Broker will be sold to make additional cash available. For financial reporting purposes, the Fund offsets financial assets and financial liabilities that are subject to netting arrangements. In order for an arrangement to be eligible for netting, the Fund must have a basis to conclude that such netting arrangements are legally enforceable. The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2016, net by contract: Gross Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 105,525,095 $ (105,525,095 ) $ — $ — $ — $ — Liabilities Commodity Futures Contracts $ (106,022,075 ) $ 105,525,095 $ (496,980 ) $ 496,980 $ — $ — The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2015, net by contract: Gross Amounts Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 190,851,560 $ (185,157,240 ) $ 5,694,320 $ — $ — $ 5,694,320 Liabilities Commodity Futures Contracts $ (185,157,240 ) $ 185,157,240 $ — $ — $ — $ — (a) As of December 31, 2016 and 2015, a portion of the Fund’s U.S. Treasury Obligations were required to be deposited as maintenance margin in support of the Fund’s futures positions. (j) Brokerage Commissions and Fees The Fund incurs all brokerage commissions, including applicable exchange fees, National Futures Association (“NFA”) fees, give-up fees, pit brokerage fees and other transaction related fees and expenses charged in connection with trading activities by the Commodity Broker. These costs are recorded as Brokerage Commissions and Fees in the Statements of Income and Expenses. The Commodity Broker’s brokerage commissions and trading fees are determined on a contract-by-contract basis. On average, total charges paid to the Commodity Broker and the Predecessor Commodity Broker, as applicable, were less than $6.00, $6.00 and $10.00 per round-turn trade during the Years Ended December 31, 2016, 2015 and 2014, respectively. (k) Routine Operational, Administrative and Other Ordinary Expenses After the Closing Date, the Managing Owner assumed all routine operational, administrative and other ordinary expenses of the Fund, including, but not limited to, computer services, the fees and expenses of the Trustee, legal and accounting fees and expenses, tax preparation expenses, filing fees and printing, mailing and duplication costs. Prior to the Closing Date, the Predecessor Managing Owner assumed all routine operational, administrative and other ordinary expenses of the Fund. Accordingly, such expenses are not reflected in the Statements of Income and Expenses of the Fund. For the avoidance of doubt, the Fund does not reimburse the Managing Owner for the routine operational, administrative and other ordinary expenses of the Fund. (l) Non-Recurring Fees and Expenses The Fund pays all non-recurring and unusual fees and expenses (referred to as extraordinary fees and expenses in the Trust Agreement), if any, of itself, as determined by the Managing Owner. Non-recurring and unusual fees and expenses are fees and expenses which are non-recurring and unusual in nature, such as legal claims and liabilities, litigation costs or indemnification or other unanticipated expenses. Such non-recurring and unusual fees and expenses, by their nature, are unpredictable in terms of timing and amount. For the Years Ended December 31, 2016, 2015 and 2014, the Fund did not incur such expenses.

Financial Instrument Risk

Financial Instrument Risk	12 Months Ended
	Dec. 31, 2016
Investments Debt And Equity Securities Abstract
Financial Instrument Risk	(6) Financial Instrument Risk In the normal course of its business, the Fund is a party to financial instruments with off-balance sheet risk. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss in excess of the amounts shown on the Statements of Financial Condition. The financial instruments used by the Fund are commodity futures contracts, whose values are based upon an underlying asset and generally represent future commitments that have a reasonable possibility of being settled in cash or through physical delivery. The financial instruments are traded on an exchange and are standardized contracts. Market risk is the potential for changes in the value of the financial instruments traded by the Fund due to market changes, including fluctuations in commodity prices. In entering into these futures contracts, there exists a market risk that such futures contracts may be significantly influenced by adverse market conditions, resulting in such futures contracts being less valuable. If the markets should move against all of the futures contracts at the same time, the Fund could experience substantial losses. Credit risk is the possibility that a loss may occur due to the failure of the Commodity Broker and/or clearinghouse to perform according to the terms of a futures contract. Credit risk with respect to exchange-traded instruments is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transactions. The Commodity Broker, when acting as the Fund’s futures commission merchant in accepting orders for the purchase or sale of domestic futures contracts, is required by CFTC regulations to separately account for and segregate as belonging to the Fund all assets of the Fund relating to domestic futures trading and the Commodity Broker is not allowed to commingle such assets with other assets of the Commodity Broker. In addition, CFTC regulations also require the Commodity Broker to hold in a secure account assets of the Fund related to foreign futures trading. The Fund’s risk of loss in the event of counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and not represented by the futures contract or notional amounts of the instruments. The Fund has not utilized, nor does it expect to utilize in the future, special purpose entities to facilitate off-balance sheet financing arrangements and has no loan guarantee arrangements or off-balance sheet arrangements of any kind, other than agreements entered into in the normal course of business noted above.

Share Purchases and Redemptions

Share Purchases and Redemptions	12 Months Ended
	Dec. 31, 2016
Text Block [Abstract]
Share Purchases and Redemptions	(7) Share Purchases and Redemptions (a) Purchases On any business day, an Authorized Participant may place an order with the Administrator who serves as the Fund’s transfer agent (“Transfer Agent”) to create one or more Baskets. For purposes of processing both creation and redemption orders, a “business day” means any day other than a day when banks in New York City are required or permitted to be closed. Creation orders must be placed by 10:00 a.m., Eastern Time. The day on which the Transfer Agent receives a valid creation order is the creation order date. The day on which a creation order is settled is the creation order settlement date. As provided below, the creation order settlement date may occur up to three business days after the creation order date. By placing a creation order, and prior to delivery of such Baskets, an Authorized Participant’s DTC account is charged the non-refundable transaction fee due for the creation order. Unless otherwise agreed to by the Managing Owner and the Authorized Participant as provided in the next sentence, Baskets are issued on the creation order settlement date as of 2:45 p.m., Eastern Time, on the business day immediately following the creation order date at the applicable net asset value per Share as of the closing time of the NYSE Arca or the last to close of the exchanges on which its futures contracts are traded, whichever is later, on the creation order date, but only if the required payment has been timely received. Upon submission of a creation order, the Authorized Participant may request the Managing Owner to agree to a creation order settlement date up to three business days after the creation order date. Creation orders may be placed either (i) through the Continuous Net Settlement (“CNS”) clearing processes of the National Securities Clearing Corporation (the “NSCC”) (the “CNS Clearing Process”) or (ii) if outside the CNS Clearing Process, only through the facilities of The Depository Trust Company (“DTC” or the “Depository”) (the “DTC Process”), or a successor depository. (b) Redemptions On any business day, an Authorized Participant may place an order with the Transfer Agent to redeem one or more Baskets. Redemption orders must be placed by 10:00 a.m., Eastern Time. The day on which the Managing Owner receives a valid redemption order is the redemption order date. The day on which a redemption order is settled is the redemption order settlement date. As provided below, the redemption order settlement date may occur up to three business days after the redemption order date. The redemption procedures allow Authorized Participants to redeem Baskets. Individual Shareholders may not redeem directly from the Fund. Instead, individual Shareholders may only redeem Shares in integral multiples of 200,000 and only through an Authorized Participant. Unless otherwise agreed to by the Managing Owner and the Authorized Participant as provided in the next sentence, by placing a redemption order, an Authorized Participant agrees to deliver the Baskets to be redeemed through DTC’s book-entry system to the Fund not later than the redemption order settlement date as of 2:45 p.m., Eastern Time, on the business day immediately following the redemption order date. Upon submission of a redemption order, the Authorized Participant may request the Managing Owner to agree to a redemption order settlement date up to three business days after the redemption order date. By placing a redemption order, and prior to receipt of the redemption proceeds, an Authorized Participant’s DTC account is charged the non-refundable transaction fee due for the redemption order. Redemption orders may be placed either (i) through the CNS Clearing Process or (ii) if outside the CNS Clearing Process, only through the DTC Process, or a successor depository, and only in exchange for cash. The redemption proceeds from the Fund consist of the cash redemption amount. The cash redemption amount is equal to the net asset value of the number of Basket(s) requested in the Authorized Participant’s redemption order as of the closing time of the NYSE Arca or the last to close of the exchanges on which the Fund’s futures contracts are traded, whichever is later, on the redemption order date. The Managing Owner will distribute the cash redemption amount at the redemption order settlement date as of 2:45 p.m., Eastern Time, on the redemption order settlement date through DTC to the account of the Authorized Participant as recorded on DTC’s book-entry system. The redemption proceeds due from the Fund are delivered to the Authorized Participant at 2:45 p.m., Eastern Time, on the redemption order settlement date if, by such time, the Fund’s DTC account has been credited with the Baskets to be redeemed. If the Fund’s DTC account has not been credited with all of the Baskets to be redeemed by such time, the redemption distribution is delivered to the extent of whole Baskets received. Any remainder of the redemption distribution is delivered on the next business day to the extent of remaining whole Baskets received if the Transfer Agent receives the fee applicable to the extension of the redemption distribution date which the Managing Owner may, from time-to-time, determine and the remaining Baskets to be redeemed are credited to the Fund’s DTC account by 2:45 p.m., Eastern Time, on such next business day. Any further outstanding amount of the redemption order will be cancelled. The Managing Owner is also authorized to deliver the redemption distribution notwithstanding that the Baskets to be redeemed are not credited to the Fund’s DTC account by 2:45 p.m., Eastern Time, on the redemption order settlement date if the Authorized Participant has collateralized its obligation to deliver the Baskets through DTC’s book-entry system on such terms as the Managing Owner may determine from time-to-time.

Profit and Loss Allocations and

Profit and Loss Allocations and Distributions	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Profit and Loss Allocations and Distributions	(8) Profit and Loss Allocations and Distributions Pursuant to the Trust Agreement, income and expenses are allocated pro rata to the Managing Owner as holder of the General Shares and to the Shareholders monthly based on their respective percentage interests as of the close of the last trading day of the preceding month. Distributions (other than redemption of units) may be made at the sole discretion of the Managing Owner on a pro rata basis in accordance with the respective capital balances of the shareholders. No distributions were paid for the Years Ended December 31, 2016, 2015 and 2014.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies The Managing Owner, either in its own capacity or in its capacity as the Managing Owner and on behalf of the Fund, has entered into various service agreements that contain a variety of representations, or provide indemnification provisions related to certain risks service providers undertake in performing services which are in the best interests of the Fund. As of December 31, 2016 and December 31, 2015, no claims had been received by the Fund. Further, the Fund has not had prior claims or losses pursuant to these contracts. Accordingly, the Managing Owner expects the risk of loss to be remote.

Net Asset Value and Financial H

Net Asset Value and Financial Highlights	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Net Asset Value and Financial Highlights	(10) Net Asset Value and Financial Highlights The Fund is presenting the following net asset value and financial highlights related to investment performance for a Share outstanding for the Years Ended December 31, 2016, 2015 and 2014. An individual investor’s return and ratios may vary based on the timing of capital transactions. Net asset value per Share is the net asset value of the Fund divided by the number of outstanding Shares at the date of each respective period presented. Years Ended December 31, 2016 2015 2014 Net Asset Value Net asset value per Share, beginning of period $ 9.07 $ 15.51 $ 27.69 Net realized and change in unrealized gain (loss) on United States Treasury Obligations and Commodity Futures Contracts 0.64 (6.34 ) (11.99 ) Net investment income (loss) (a) (0.04 ) (0.10 ) (0.19 ) Net income (loss) 0.60 (6.44 ) (12.18 ) Net asset value per Share, end of period $ 9.67 $ 9.07 $ 15.51 Market value per Share, beginning of period $ 9.08 (b) $ 15.67 (b)(c) $ 27.70 Market value per Share, end of period $ 9.68 (b) $ 9.08 (b) $ 15.70 Ratio to average Net Assets Net investment income (loss) (0.49 )% (0.76 )% (0.74 )% Expenses, after waivers 0.78 % 0.76 % 0.78 % Expenses, prior to waivers 0.78 % 0.76 % 0.78 % Total Return, at net asset value (d) 6.62 % (41.52 )% (43.99 )% Total Return, at market value (d) 6.61 % (42.06 )% (43.32 )% (a) Based on average shares outstanding. (b) The mean between the last bid and ask prices. (c) (d) Total Return, at net asset value is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption of Shares on the last day of the period. Total Return, at net asset value includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Total Return, at market value is calculated assuming an initial investment made at the market value at the beginning of the period, reinvestment of all dividends and distributions at market value during the period, and redemption of Shares at the market value on the last day of the period. Not annualized for periods less than one year, if applicable.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation The financial statements of the Fund have been prepared using U.S. generally accepted accounting principles (“U.S. GAAP”). The Fund has determined that it meets the definition of an investment company and has prepared the financial statements in conformity with U.S. GAAP for investment companies in conformity with the accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946—Investment Companies.
Use of Estimates	(b) Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. Actual results could differ from those estimates.
Financial Instruments and Fair Value	(c) Financial Instruments and Fair Value Investment transactions are recorded in the Statements of Financial Condition on a trade date basis at fair value with changes in fair value recognized in earnings in each period. U.S. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. U.S. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods or market conditions may result in transfers in or out of an investment’s assigned level: Level 1—Prices are determined using quoted prices in an active market for identical assets. Level 2—Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. Level 3—Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. United States Treasury Obligations are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as developments related to specific securities, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. All debt obligations involve some risk of default with respect to interest and/or principal payments. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. When market closing prices are not available, the Managing Owner may value an asset of the Fund pursuant to policies the Managing Owner has adopted, which are consistent with normal industry standards. The levels assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. The following is a summary of the tiered valuation input levels as of December 31, 2016: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 438,601,879 $ — $ 438,601,879 Money Market Mutual Fund 14,942,839 — — 14,942,839 14,942,839 438,601,879 — 453,544,718 Commodity Futures Contracts (a) 105,525,095 — — 105,525,095 Total Investments $ 120,467,934 $ 438,601,879 $ — $ 559,069,813 (a) Unrealized appreciation (depreciation). The following is a summary of the tiered valuation input levels as of December 31, 2015: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 372,479,154 $ — $ 372,479,154 Commodity Futures Contracts (a) (185,157,240 ) — — (185,157,240 ) Total Investments $ (185,157,240 ) $ 372,479,154 $ — $ 187,321,914 (a) Unrealized appreciation (depreciation).
Deposits with Commodity Broker and Custodian	(d) Deposits with Commodity Broker and Custodian The Fund deposits cash and United States Treasury Obligations with its Commodity Broker subject to CFTC regulations and various exchange and broker requirements. The combination of the Fund’s deposits with its Commodity Broker of cash and United States Treasury Obligations and the unrealized profit or loss on open futures contracts represents the Fund’s overall equity in its broker trading account. To meet the Fund’s maintenance margin requirements, the Fund holds United States Treasury Obligations. The Fund transfers cash to the Commodity Broker to satisfy variation margin requirements. The Fund earns interest on any excess cash deposited with the Commodity Broker and incurs interest expense on any deficit balance with the Commodity Broker. The Fund’s remaining cash, United States Treasury Obligations and money market mutual fund holdings are on deposit with its Custodian. The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with the Custodian. Such balances, if any at period-end, are shown on the Statement of Financial Condition under the payable caption Due to Custodian. The Fund defines cash and cash equivalents to be cash and other highly liquid investments, with original maturities of three months or less when purchased.
Investment Transactions and Investment Income	(e) Investment Transactions and Investment Income Investment transactions are accounted for on a trade date basis. Realized gains (losses) from the sale or disposition of securities or derivatives are determined on a specific identification basis and recognized in the Statements of Income and Expenses in the period in which the contract is closed or the sale or disposition occurs, respectively. Interest income on United States Treasury Obligations is recognized on an accrual basis when earned. Premiums and discounts are amortized or accreted over the life of the United States Treasury Obligations. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.
Receivable/ (Payable) for Shares Issued and Redeemed	(f) Receivable/ (Payable) for Shares Issued and Redeemed On any business day, an Authorized Participant may place an order to create or redeem Shares of the Fund. Cash settlement occurs at the creation order settlement date or the redemption order settlement date as discussed in Note 7.
Cash Held by Commodity Broker	(g) Cash Held by Commodity Broker The Fund’s arrangement with the Commodity Broker requires the Fund to meet its variation margin requirement related to the price movements on futures contracts held by the Fund by maintaining cash on deposit with the Commodity Broker. The Fund assesses its variation margin requirements on a daily basis by recalculating the change in value of the futures contracts based on price movements. Subsequent cash payments are made or received by the Fund each business day depending on whether unrealized gains or losses are incurred on the futures contracts. Effective February 24, 2015, only the current day’s variation margin receivable or payable is disclosed as an asset or liability on the Statements of Financial Condition.
Income Taxes	(h) Income Taxes The Fund is classified as a partnership for U.S. federal income tax purposes. Accordingly, the Fund will generally not incur U.S. federal income taxes. No provision for federal, state, and local income taxes has been made in the accompanying financial statements, as investors are individually liable for income taxes, if any, on their allocable share of the Fund’s income, gain, loss, deductions and other items. The Managing Owner has reviewed all of the Fund’s open tax years and major jurisdictions and concluded that there is no tax liability resulting from unrecognized tax benefits relating to uncertain tax positions taken or expected to be taken in future tax returns. The Fund is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. On an ongoing basis, the Managing Owner will monitor the Fund’s tax positions taken under the interpretation (and consult with its tax counsel from time to time when appropriate) to determine if adjustments to conclusions are necessary based on factors including, but not limited to, on-going analysis of tax law, regulation, and interpretations thereof. The major tax jurisdiction for the Fund and the earliest tax year subject to examination: United States, 2013.
Commodity Futures Contracts	(i) Commodity Futures Contracts The Fund utilizes derivative instruments to achieve its investment objective. A futures contract is an agreement between counterparties to purchase or sell a specified underlying security or index for a specified price at a future date. All of the Fund’s commodity futures contracts are held and used for trading purposes. During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as a receivable or payable on the Statements of Financial Condition. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund’s basis in the contract. Realized gains (losses) and changes in unrealized appreciation (depreciation) on open positions are determined on a specific identification basis and recognized in the Statements of Income and Expenses in the period in which the contract is closed or the changes occur, respectively. The Fair Value of Derivative Instruments is as follows: December 31, 2016 2015 Risk Exposure/Derivative Type (a) Assets Liabilities Assets Liabilities Commodity risk Commodity Futures Contracts $ 105,525,095 $ — $ — $ (185,157,240 ) (a) Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the December 31, 2016 and 2015 Statements of Financial Condition. The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows: Location of Gain or (Loss) on Derivatives For the Years Ended December 31, Risk Exposure/Derivative Type Recognized in Income 2016 2015 2014 Commodity risk Commodity Futures Contracts Net Realized Gain (Loss) $ (240,714,315 ) $ (95,881,678 ) $ (60,962,520 ) Net Change in Unrealized Gain (Loss) 290,682,335 (125,969,790 ) (73,797,040 ) Total $ 49,968,020 $ (221,851,468 ) $ (134,759,560 ) The table below summarizes the average monthly notional value of futures contracts outstanding during the period: Years Ended December 31, 2016 2015 2014 Average Notional Value $ 441,139,713 $ 514,600,121 $ 289,615,233 The brokerage agreement with the Commodity Broker provides for the net settlement of all financial instruments covered by the agreement in the event of default or termination of any one contract. The Managing Owner will utilize any excess cash held at the Commodity Broker to offset any realized losses incurred in the commodity futures contracts, if available. To the extent that any excess cash held at the Commodity Broker is not adequate to cover any realized losses, a portion of the United States Treasury Obligations on deposit with the Commodity Broker will be sold to make additional cash available. For financial reporting purposes, the Fund offsets financial assets and financial liabilities that are subject to netting arrangements. In order for an arrangement to be eligible for netting, the Fund must have a basis to conclude that such netting arrangements are legally enforceable. The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2016, net by contract: Gross Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 105,525,095 $ (105,525,095 ) $ — $ — $ — $ — Liabilities Commodity Futures Contracts $ (106,022,075 ) $ 105,525,095 $ (496,980 ) $ 496,980 $ — $ — The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2015, net by contract: Gross Amounts Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 190,851,560 $ (185,157,240 ) $ 5,694,320 $ — $ — $ 5,694,320 Liabilities Commodity Futures Contracts $ (185,157,240 ) $ 185,157,240 $ — $ — $ — $ — (a) As of December 31, 2016 and 2015, a portion of the Fund’s U.S. Treasury Obligations were required to be deposited as maintenance margin in support of the Fund’s futures positions.
Brokerage Commissions and Fees	(j) Brokerage Commissions and Fees The Fund incurs all brokerage commissions, including applicable exchange fees, National Futures Association (“NFA”) fees, give-up fees, pit brokerage fees and other transaction related fees and expenses charged in connection with trading activities by the Commodity Broker. These costs are recorded as Brokerage Commissions and Fees in the Statements of Income and Expenses. The Commodity Broker’s brokerage commissions and trading fees are determined on a contract-by-contract basis. On average, total charges paid to the Commodity Broker and the Predecessor Commodity Broker, as applicable, were less than $6.00, $6.00 and $10.00 per round-turn trade during the Years Ended December 31, 2016, 2015 and 2014, respectively.
Routine Operational, Administrative and Other Ordinary Expenses	(k) Routine Operational, Administrative and Other Ordinary Expenses After the Closing Date, the Managing Owner assumed all routine operational, administrative and other ordinary expenses of the Fund, including, but not limited to, computer services, the fees and expenses of the Trustee, legal and accounting fees and expenses, tax preparation expenses, filing fees and printing, mailing and duplication costs. Prior to the Closing Date, the Predecessor Managing Owner assumed all routine operational, administrative and other ordinary expenses of the Fund. Accordingly, such expenses are not reflected in the Statements of Income and Expenses of the Fund. For the avoidance of doubt, the Fund does not reimburse the Managing Owner for the routine operational, administrative and other ordinary expenses of the Fund.
Non-Recurring Fees and Expenses	(l) Non-Recurring Fees and Expenses The Fund pays all non-recurring and unusual fees and expenses (referred to as extraordinary fees and expenses in the Trust Agreement), if any, of itself, as determined by the Managing Owner. Non-recurring and unusual fees and expenses are fees and expenses which are non-recurring and unusual in nature, such as legal claims and liabilities, litigation costs or indemnification or other unanticipated expenses. Such non-recurring and unusual fees and expenses, by their nature, are unpredictable in terms of timing and amount. For the Years Ended December 31, 2016, 2015 and 2014, the Fund did not incur such expenses.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of the Tiered Valuation Input Levels	The following is a summary of the tiered valuation input levels as of December 31, 2016: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 438,601,879 $ — $ 438,601,879 Money Market Mutual Fund 14,942,839 — — 14,942,839 14,942,839 438,601,879 — 453,544,718 Commodity Futures Contracts (a) 105,525,095 — — 105,525,095 Total Investments $ 120,467,934 $ 438,601,879 $ — $ 559,069,813 (a) Unrealized appreciation (depreciation). The following is a summary of the tiered valuation input levels as of December 31, 2015: Level 1 Level 2 Level 3 Total United States Treasury Obligations $ — $ 372,479,154 $ — $ 372,479,154 Commodity Futures Contracts (a) (185,157,240 ) — — (185,157,240 ) Total Investments $ (185,157,240 ) $ 372,479,154 $ — $ 187,321,914 (a) Unrealized appreciation (depreciation).
Fair Value of Derivative Instruments and Effect of Derivative Instruments on Statements of Income and Expenses	The Fair Value of Derivative Instruments is as follows: December 31, 2016 2015 Risk Exposure/Derivative Type (a) Assets Liabilities Assets Liabilities Commodity risk Commodity Futures Contracts $ 105,525,095 $ — $ — $ (185,157,240 ) (a) Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the December 31, 2016 and 2015 Statements of Financial Condition. The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows: Location of Gain or (Loss) on Derivatives For the Years Ended December 31, Risk Exposure/Derivative Type Recognized in Income 2016 2015 2014 Commodity risk Commodity Futures Contracts Net Realized Gain (Loss) $ (240,714,315 ) $ (95,881,678 ) $ (60,962,520 ) Net Change in Unrealized Gain (Loss) 290,682,335 (125,969,790 ) (73,797,040 ) Total $ 49,968,020 $ (221,851,468 ) $ (134,759,560 )
Summary of Average Monthly Notional Value of Future Contracts Outstanding	The table below summarizes the average monthly notional value of futures contracts outstanding during the period: Years Ended December 31, 2016 2015 2014 Average Notional Value $ 441,139,713 $ 514,600,121 $ 289,615,233
Summary of Gross and Net Amounts of Offsetting Assets and Liabilities	The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2016, net by contract: Gross Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 105,525,095 $ (105,525,095 ) $ — $ — $ — $ — Liabilities Commodity Futures Contracts $ (106,022,075 ) $ 105,525,095 $ (496,980 ) $ 496,980 $ — $ — The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2015, net by contract: Gross Amounts Offset in the Net Amounts Presented in Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts Recognized Statement of Financial Condition the Statement of Financial Condition Financial Instruments (a) Cash Collateral Pledged (a) Net Amount Assets Commodity Futures Contracts $ 190,851,560 $ (185,157,240 ) $ 5,694,320 $ — $ — $ 5,694,320 Liabilities Commodity Futures Contracts $ (185,157,240 ) $ 185,157,240 $ — $ — $ — $ — (a) As of December 31, 2016 and 2015, a portion of the Fund’s U.S. Treasury Obligations were required to be deposited as maintenance margin in support of the Fund’s futures positions.

Net Asset Value and Financial21

Net Asset Value and Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Net Asset Value Per Share	Net asset value per Share is the net asset value of the Fund divided by the number of outstanding Shares at the date of each respective period presented. Years Ended December 31, 2016 2015 2014 Net Asset Value Net asset value per Share, beginning of period $ 9.07 $ 15.51 $ 27.69 Net realized and change in unrealized gain (loss) on United States Treasury Obligations and Commodity Futures Contracts 0.64 (6.34 ) (11.99 ) Net investment income (loss) (a) (0.04 ) (0.10 ) (0.19 ) Net income (loss) 0.60 (6.44 ) (12.18 ) Net asset value per Share, end of period $ 9.67 $ 9.07 $ 15.51 Market value per Share, beginning of period $ 9.08 (b) $ 15.67 (b)(c) $ 27.70 Market value per Share, end of period $ 9.68 (b) $ 9.08 (b) $ 15.70 Ratio to average Net Assets Net investment income (loss) (0.49 )% (0.76 )% (0.74 )% Expenses, after waivers 0.78 % 0.76 % 0.78 % Expenses, prior to waivers 0.78 % 0.76 % 0.78 % Total Return, at net asset value (d) 6.62 % (41.52 )% (43.99 )% Total Return, at market value (d) 6.61 % (42.06 )% (43.32 )% (a) Based on average shares outstanding. (b) The mean between the last bid and ask prices. (c) (d) Total Return, at net asset value is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption of Shares on the last day of the period. Total Return, at net asset value includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Total Return, at market value is calculated assuming an initial investment made at the market value at the beginning of the period, reinvestment of all dividends and distributions at market value during the period, and redemption of Shares at the market value on the last day of the period. Not annualized for periods less than one year, if applicable.

Background - Additional Informa

Background - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016Trust
Related Party Transactions [Abstract]
Number of series of trusts	7
Purchase agreement transaction date	Feb. 23, 2015

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)TrustBasketshares	Dec. 31, 2015shares
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of series of trusts | Trust	7
Partners' capital contribution | $	$ 1,000
General shares, shares issued	40	40
Minimum number of Baskets that can be purchased | Basket	1
Number of shares issued per basket	200,000

Service Providers and Related24

Service Providers and Related Party Agreements - Additional Information (Detail) - USD ($)	Feb. 26, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Management fee percentage per annum of daily net asset		0.75%
Managing owner waived fees		$ 14,569
United States Treasury Obligations, at value (cost $438,609,436 and $372,481,672, respectively)		$ 438,601,879	$ 372,479,154	$ 280,990,311
Cash held by commodity broker				$ 68,613,950
Cash transfer to Commodity Broker to satisfy variation margin requirements			$ 3,341,590
Bank of New York Mellon [Member]
Related Party Transaction [Line Items]
Cash transferred to custodian	$ 21,627,202
United States Treasury Obligations transferred to custodian	470,990,982
Commodity Broker [Member]
Related Party Transaction [Line Items]
United States Treasury Obligations transferred to Commodity Broker	3,341,590
Cash transfer to Commodity Broker to satisfy variation margin requirements	$ 67,993,200

Summary of Significant Accoun25

Summary of Significant Accounting Policies - Summary of the Tiered Valuation Input Levels (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
United States Treasury Obligations	$ 438,601,879	$ 372,479,154	$ 280,990,311
Money Market Mutual Fund	14,942,839
Total Investments, at value (cost $453,552,275 and $372,481,672, respectively)	453,544,718	372,479,154
Commodity Futures Contracts	105,525,095	(185,157,240)
Total Investments	559,069,813	187,321,914
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Mutual Fund	14,942,839
Total Investments, at value (cost $453,552,275 and $372,481,672, respectively)	14,942,839
Commodity Futures Contracts	105,525,095	(185,157,240)
Total Investments	120,467,934	(185,157,240)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
United States Treasury Obligations	438,601,879	372,479,154
Total Investments, at value (cost $453,552,275 and $372,481,672, respectively)	438,601,879
Total Investments	$ 438,601,879	$ 372,479,154

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Fair Value of Derivative Instruments (Detail) - Commodity Futures Contract [Member] - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Assets	$ 105,525,095	$ 190,851,560
Liabilities	(106,022,075)	(185,157,240)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Assets	$ 105,525,095
Liabilities		$ (185,157,240)

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Effect of Derivative Instruments on Statements of Income and Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Futures contracts, realized gain (loss)	$ (240,714,315)	$ (95,881,678)	$ (60,962,520)
Futures contracts, unrealized gain (loss)	290,682,335	(125,969,790)	(73,797,040)
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	49,964,955	(221,862,791)	(134,761,696)
Commodity Futures Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Futures contracts, realized gain (loss)	(240,714,315)	(95,881,678)	(60,962,520)
Futures contracts, unrealized gain (loss)	290,682,335	(125,969,790)	(73,797,040)
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Commodity Futures Contracts	$ 49,968,020	$ (221,851,468)	$ (134,759,560)

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Summary of Average Monthly Notional Value of Future Contracts Outstanding (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Weighted Average [Member] | Commodity Futures Contract [Member]
Derivative [Line Items]
Average Notional Value	$ 441,139,713	$ 514,600,121	$ 289,615,233

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Summary of Gross and Net Amounts of Offsetting Assets (Detail) - Commodity Futures Contract [Member] - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Offsetting Assets And Liabilities [Line Items]
Gross Amounts of Recognized Assets	$ 105,525,095	$ 190,851,560
Gross Amounts Offset Assets in the Statement of Financial Condition	(105,525,095)	(185,157,240)
Net Amounts of Assets Presented in the Statement of Financial Condition		5,694,320
Assets Net Amount		5,694,320
Gross Amounts of Recognized Liabilities	(106,022,075)	(185,157,240)
Gross Amounts Offset Liabilities in the Statement of Financial Condition	105,525,095	$ 185,157,240
Net Amounts of Liabilities Presented in the Statement of Financial Condition	(496,980)
Gross Amounts Not Offset In The Statement of Financial Condition - Financial Instruments Liabilities	$ 496,980

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Average charges paid to broker per round-turn trade, maximum	$ 6	$ 6	$ 10

Share Purchases and Redemptio31

Share Purchases and Redemptions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016Basketshares
Equity [Abstract]
Minimum number of Baskets that can be purchased	1
Minimum number of Baskets that can be redeemed	1
Number of shares issued per basket | shares	200,000

Profit and Loss Allocations a32

Profit and Loss Allocations and Distributions - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Distributed earnings	$ 0	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Claim	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Indemnification Agreement [Member]
Loss Contingencies [Line Items]
Claims received by fund	0	0

Net Asset Value and Financial34

Net Asset Value and Financial Highlights - Schedule of Net Asset Value Per Share (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Asset Value
Net asset value per Share, beginning of period	$ 9.07	$ 15.51	$ 27.69
Net realized and change in unrealized gain (loss) on United States Treasury Obligations and Commodity Futures Contracts	0.64	(6.34)	(11.99)
Net investment income (loss)	(0.04)	(0.10)	(0.19)
Net income (loss)	0.60	(6.44)	(12.18)
Net asset value per Share, end of period	9.67	9.07	15.51
Market value per Share, beginning of period	9.08	15.67	27.70
Market value per Share, end of period	$ 9.68	$ 9.08	$ 15.67
Ratio to average Net Assets
Net investment income (loss)	(0.49%)	(0.76%)	(0.74%)
Expenses, after waivers	0.78%	0.76%	0.78%
Expenses, prior to waivers	0.78%	0.76%	0.78%
Total Return, at net asset value	6.62%	(41.52%)	(43.99%)
Total Return, at market value	6.61%	(42.06%)	(43.32%)
Scenario, Previously Reported
Net Asset Value
Market value per Share, beginning of period		$ 15.70
Market value per Share, end of period			$ 15.70