Prospectus Supplement

424B3 1 d424b3.htm PROSPECTUS SUPPLEMENT Prospectus Supplement

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-158733

333-158733-01

POWERSHARES DB COMMODITY INDEX TRACKING FUND

SUPPLEMENT DATED OCTOBER 1, 2010 TO

PROSPECTUS DATED JANUARY 4, 2010

This Supplement updates certain information contained in the Prospectus dated January 4, 2010, as supplemented from time-to-time (the “Prospectus”), of PowerShares DB Commodity Index Tracking Fund (the “Fund”) and DB Commodity Index Tracking Master Fund. All capitalized terms used in this Supplement have the same meaning as in the Prospectus.

Prospective investors in the Fund should review carefully the contents of both this Supplement and the Prospectus.

* * * * * * * * * * * * * * * * * * *

All information in the Prospectus is restated pursuant to this Supplement, except as updated hereby.

Neither the Securities and Exchange Commission nor any state securities commission

has approved or disapproved of these securities or determined if this Prospectus is

truthful or complete. Any representation to the contrary is a criminal offense.

THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS

OF PARTICIPATING IN THIS POOL NOR HAS THE COMMISSION PASSED UPON THE

ADEQUACY OR ACCURACY OF THIS DISCLOSURE DOCUMENT.

DB COMMODITY SERVICES LLC

Managing Owner

I.	Risk Factor (12) on page 21 of the Prospectus is hereby deleted and replaced, in its entirety, with the following:

“ (12) Price Volatility May Possibly Cause the Total Loss of Your Investment.

Futures contracts have a high degree of price variability and are subject to occasional rapid and substantial changes. Consequently, you could lose all or substantially all of your investment in the Fund.

The following table reflects various measures of volatility* of the Index as calculated on an excess return basis:


Volatility Type		Volatility
Daily volatility over full history		16.30%
Average rolling 3 month daily volatility		15.39%
Monthly return volatility		19.13%
Average annual volatility		15.34%

The following table reflects the daily volatility on an annual basis of the Index:


Year		Daily Volatility
1997**		8.07%
1998		11.88%
1999		12.78%
2000		14.74%
2001		13.40%
2002		12.37%
2003		13.74%
2004		15.93%
2005		14.71%
2006		16.30%
2007		13.96%
2008		28.39%
2009		22.08%
2010***		16.42%

*Volatility, for these purposes, means the following:

Daily Volatility: The relative rate at which the price of the Index moves up and down, found by calculating the annualized standard deviation of the daily change in price.

Monthly Return Volatility: The relative rate at which the price of the Index moves up and down, found by calculating the annualized standard deviation of the monthly change in price.

Average Annual Volatility: The average of yearly volatilities for a given sample period. The yearly volatility is the relative rate at which the price of the Index moves up and down, found by calculating the annualized standard deviation of the daily change in price for each business day in the given year.

** As of September 3, 1997.

*** As of June 30, 2010.

Past Index results are not necessarily indicative of future changes, positive or negative, in the Index levels.”

-2-

II.

Page 29 of the Prospectus is hereby deleted and replaced, in its entirety, with the following:

“PERFORMANCE OF POWERSHARES DB COMMODITY INDEX TRACKING FUND (TICKER: DBC)

Name of Pool: PowerShares DB Commodity Index Tracking Fund

Type of Pool: Public, Exchange-Listed Commodity Pool

Inception of Trading: February 2006

Aggregate Gross Capital Subscriptions as of June 30, 2010¹: $6,259,318,286

Net Asset Value as of June 30, 2010²: $4,310,326,827

Net Asset Value per Share as of June 30, 2010³: $21.68

Worst Monthly Drawdown⁴: (23.77)% October 2008

Worst Peak-to-Valley Drawdown: (57.34)% June 2008 – February 2009⁵


Monthly Rate of Return	2010(%)	2009(%)	2008(%)	2007(%)	2006(%)
January	(7.64)	(5.18)	3.24	(2.36)	—
February	3.61	(5.61)	11.21	5.30	(4.66)
March	0.03	5.32	(0.61)	0.67	3.63
April	3.61	(1.54)	4.46	0.55	6.51
May	(10.35)	16.50	8.32	(0.51)	(0.42)
June	(1.09)	(3.02)	10.64	1.22	(0.29)
July		2.58	(10.61)	1.94	1.65
August		(3.39)	(5.97)	(2.21)	(2.71)
September		(0.31)	(11.01)	8.58	(4.54)
October		6.17	(23.77)	8.58	1.21
November		4.65	(10.38)	0.26	6.40
December		(0.03)	(6.71) ⁶	3.76 ⁷	(4.70) ⁸
Compound Rate of Return⁹	(12.05)% (6 months)	15.08%	(31.91)%	28.15%	1.23% (11 months)

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Footnotes to Performance Information

1. “Aggregate Gross Capital Subscriptions” is the aggregate of all amounts ever contributed to the pool, including investors who subsequently redeemed their investments.

2. “Net Asset Value” is the net asset value of the pool as of June 30, 2010.

3. “Net Asset Value per Share” is the Net Asset Value of the pool divided by the total number of Shares outstanding as of June 30, 2010.

4. “Worst Monthly Drawdown” is the largest single month loss sustained since inception of trading. “Drawdown” as used in this section of the Prospectus means losses experienced by the relevant pool over the specified period and is calculated on a rate of return basis, i.e., dividing net performance by beginning equity. “Drawdown” is measured on the basis of monthly returns only, and does not reflect intra-month figures. “Month” is the month of the Worst Monthly Drawdown.

5. The Worst Peak-to-Valley Drawdown from June 2008 – February 2009 includes the effect of the $0.34 per Share distribution made to Shareholders of record as of December 17, 2008. “Worst Peak-to-Valley Drawdown” is the largest percentage decline in the Net Asset Value per Share over the history of the pool. This need not be a continuous decline, but can be a series of positive and negative returns where the negative returns are larger than the positive returns. “Worst Peak-to-Valley Drawdown” represents the greatest percentage decline from any month-end Net Asset Value per Share that occurs without such month-end Net Asset Value per Share being equaled or exceeded as of a subsequent month-end. For example, if the Net Asset Value per Share of a particular pool declined by $1 in each of January and February, increased by $1 in March and declined again by $2 in April, a “peak-to-valley drawdown” analysis conducted as of the end of April would consider that “drawdown” to be still continuing and to be $3 in amount, whereas if the Net Asset Value per Share had increased by $2 in March, the January-February drawdown would have ended as of the end of February at the $2 level.

6. The December 2008 return of (6.71)% includes the $0.34 per Share distribution made to Shareholders of record as of December 17, 2008. Prior to the December 30, 2008 distribution, the pool’s return for December 2008 was (5.23)%.

7. The December 2007 return of 3.76% includes the $0.76 per Share distribution made to Shareholders of record as of December 19, 2007. Prior to the December 28, 2007 distribution, the pool’s return for December 2007 was 6.23%.

8. The December 2006 return of (4.70)% includes the $0.61 per Share distribution made to Shareholders of record as of December 20, 2006. Prior to the December 29, 2006 distribution, the pool’s return for December 2006 was (2.33)%.

9. “Compound Rate of Return” is based on an initial net asset value per share of $24.25 and is calculated by multiplying on a compound basis each of the monthly rates of return set forth in the chart above and not by adding or averaging such monthly rates of return. For periods of less than one year, the results are year-to-date.

* As of October 19, 2009, the Fund commenced tracking the Deutsche Bank Liquid Commodity Index–Optimum Yield Diversified Excess Return™. Prior to October 19, 2009, the Fund tracked the Deutsche Bank Liquid Commodity Index–Optimum Yield Excess Return™.”

-3-

III.

Pages 35-46 of the Prospectus are hereby deleted and replaced, in their entirety, with the following:

“CLOSING LEVELS TABLE

DEUTSCHE BANK LIQUID COMMODITY INDEX – OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™



	CLOSING LEVEL		CHANGES
	High¹	Low²	Annual Index Changes³		Index Changes Since Inception⁴
1997⁵	103.35	92.60	-7.40	%	-7.40	%
1998	93.07	63.74	-30.22	%	-35.38	%
1999	88.04	60.62	34.94	%	-12.80	%
2000	123.09	85.21	24.43	%	8.50	%
2001	114.11	88.26	-16.62	%	-9.54	%
2002	115.96	88.19	25.81	%	13.81	%
2003	145.82	112.87	27.03	%	44.58	%
2004	217.09	144.58	36.68	%	97.60	%
2005	279.17	194.39	39.69	%	176.03	%
2006	343.18	273.89	9.73	%	202.88	%
2007	380.11	276.40	24.79	%	277.95	%
2008	538.39	228.67	-32.86	%	153.77	%
2009	326.84	222.81	27.68	%	224.02	%
2010 ⁶	337.69	278.59	-11.92	%	185.41	%

THE FUND WILL TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR

NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE.

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™



	CLOSING LEVEL		CHANGES
	High¹	Low²	Annual Index Changes³		Index Changes Since Inception⁴
1997⁵	103.91	94.17	-5.83	%	-5.83	%
1998	95.03	67.96	-26.74	%	-31.01	%
1999	98.49	65.09	41.46	%	-2.41	%
2000	144.25	95.46	32.04	%	28.86	%
2001	136.34	108.28	-13.67	%	11.24	%
2002	144.95	108.59	27.90	%	42.27	%
2003	184.10	141.63	28.34	%	82.58	%
2004	276.91	182.59	38.58	%	153.03	%
2005	365.39	248.99	44.21	%	264.89	%
2006	461.10	364.06	15.10	%	320.00	%
2007	550.99	384.35	30.49	%	448.05	%
2008	788.19	336.20	-31.92	%	273.11	%
2009	481.22	327.67	27.87	%	377.08	%
2010 ⁶	497.22	410.40	-11.86	%	320.49	%

THE FUND WILL NOT TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR

NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE.

Please refer to notes and legends that follow on page 43.

-4-

INDEX COMMODITY WEIGHTS TABLE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™



	CL⁷				HO⁷				XB⁷				NG⁷				CO⁷				GC⁷				SI⁷

	High		Low		High		Low		High		Low		High		Low		High		Low		High		Low		High		Low
1997⁵	12.5	%	12.2	%	12.5	%	12.2	%	13.0	%	12.5	%	5.8	%	5.5	%	12.7	%	11.7	%	7.8	%	8.0	%	2.2	%	2.6	%
1998	12.1	%	11.7	%	12.4	%	12.1	%	12.7	%	11.6	%	5.3	%	5.3	%	11.5	%	10.9	%	8.3	%	8.9	%	2.6	%	2.2	%
1999	13.3	%	11.9	%	12.9	%	11.4	%	13.5	%	11.5	%	5.0	%	5.3	%	13.2	%	11.5	%	7.5	%	9.2	%	2.0	%	2.5	%
2000	15.1	%	12.9	%	15.6	%	12.5	%	16.1	%	13.0	%	7.9	%	5.0	%	14.7	%	12.8	%	5.0	%	7.6	%	1.3	%	2.0	%
2001	12.5	%	11.8	%	12.3	%	11.5	%	12.3	%	11.7	%	6.7	%	5.4	%	12.3	%	11.2	%	7.7	%	8.4	%	1.9	%	2.1	%
2002	12.5	%	12.3	%	13.1	%	11.8	%	12.8	%	12.2	%	6.0	%	4.2	%	14.2	%	12.0	%	7.9	%	8.6	%	1.9	%	2.2	%
2003	12.8	%	12.2	%	12.7	%	12.3	%	12.5	%	12.5	%	5.7	%	7.1	%	12.5	%	13.3	%	7.9	%	7.7	%	2.1	%	1.9	%
2004	16.5	%	12.6	%	15.9	%	12.4	%	14.5	%	12.4	%	6.0	%	5.7	%	16.0	%	12.4	%	5.4	%	8.0	%	1.8	%	2.2	%
2005	12.6	%	11.8	%	14.6	%	12.0	%	16.1	%	12.1	%	6.7	%	5.0	%	13.4	%	11.4	%	6.2	%	8.3	%	1.4	%	1.8	%
2006	11.1	%	11.4	%	10.9	%	11.1	%	12.0	%	11.5	%	3.0	%	3.9	%	11.0	%	11.4	%	9.1	%	8.7	%	2.9	%	2.3	%
2007	12.4	%	11.3	%	12.5	%	11.7	%	12.6	%	11.6	%	5.0	%	5.2	%	12.3	%	11.3	%	7.6	%	9.0	%	1.8	%	2.2	%
2008	13.7	%	11.3	%	14.9	%	11.4	%	13.1	%	11.3	%	6.2	%	5.5	%	13.8	%	11.5	%	5.9	%	10.0	%	1.6	%	2.3	%
2009	12.1	%	9.8	%	11.9	%	8.9	%	12.1	%	10.5	%	5.1	%	4.1	%	12.2	%	9.8	%	8.4	%	13.3	%	2.1	%	3.6	%
2010 ⁶	12.0	%	11.6	%	11.9	%	12.1	%	11.9	%	12.1	%	5.7	%	4.8	%	11.9	%	12.0	%	7.7	%	9.9	%	1.9	%	2.3	%

THE FUND WILL TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR NEGATIVE, SHOULD BE TAKEN AS AN

INDICATION OF THE FUND’S FUTURE PERFORMANCE.

LEGEND:


Symbol	Index Commodity	Symbol	Index Commodity
CL	Light Sweet Crude Oil (WTI)	AL	Aluminum
HO	Heating Oil	LX	Zinc
XB	RBOB Gasoline	LP	Copper Grade A
NG	Natural Gas	C	Corn
CO	Brent Crude	W	Wheat
GC	Gold	S	Soybeans
SI	Silver	SB	Sugar

Please refer to notes and legends that follow on page 43.

-5-

INDEX COMMODITY WEIGHTS TABLE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™



	AL⁷				LX⁷				LP⁷				C⁷				W⁷				S⁷				SB⁷

	High		Low		High		Low		High		Low		High		Low		High		Low		High		Low		High		Low
1997⁵	3.9	%	4.3	%	3.6	%	4.2	%	3.7	%	3.9	%	5.8	%	5.9	%	5.4	%	5.4	%	5.7	%	5.8	%	5.4	%	5.9	%
1998	4.2	%	4.4	%	4.2	%	4.7	%	3.9	%	4.1	%	5.9	%	6.2	%	5.6	%	5.7	%	5.8	%	6.0	%	5.5	%	6.1	%
1999	4.2	%	4.4	%	4.2	%	5.1	%	4.2	%	4.1	%	5.2	%	6.3	%	4.9	%	5.5	%	5.2	%	5.7	%	4.9	%	5.5	%
2000	2.8	%	4.5	%	2.8	%	4.4	%	3.0	%	4.3	%	3.3	%	5.4	%	3.3	%	5.2	%	3.6	%	5.5	%	5.5	%	5.0	%
2001	4.5	%	4.7	%	3.8	%	4.7	%	4.1	%	4.7	%	5.3	%	6.0	%	5.5	%	5.9	%	5.0	%	6.0	%	6.1	%	5.9	%
2002	3.8	%	4.7	%	3.9	%	4.6	%	3.8	%	4.9	%	5.1	%	5.7	%	4.8	%	5.8	%	5.2	%	5.8	%	5.0	%	5.2	%
2003	4.1	%	3.8	%	4.2	%	3.9	%	4.2	%	3.9	%	5.3	%	5.1	%	5.4	%	4.6	%	5.5	%	5.7	%	5.2	%	6.0	%
2004	3.1	%	4.2	%	3.0	%	4.3	%	3.7	%	4.4	%	3.0	%	5.4	%	3.1	%	5.4	%	3.2	%	5.8	%	4.8	%	4.9	%
2005	3.3	%	4.5	%	3.9	%	4.9	%	4.7	%	4.6	%	3.5	%	5.7	%	4.0	%	5.6	%	4.3	%	6.0	%	5.3	%	6.4	%
2006	5.1	%	4.7	%	7.4	%	5.2	%	7.0	%	4.9	%	4.7	%	5.6	%	4.8	%	5.7	%	4.3	%	5.3	%	6.8	%	8.4	%
2007	3.7	%	4.7	%	3.6	%	3.9	%	3.9	%	3.6	%	5.9	%	6.8	%	6.3	%	6.4	%	6.3	%	6.8	%	6.0	%	5.6	%
2008	3.4	%	3.9	%	1.9	%	5.0	%	3.4	%	4.1	%	6.9	%	5.5	%	4.8	%	6.2	%	6.4	%	5.8	%	4.0	%	6.4	%
2009	4.3	%	3.5	%	4.4	%	5.3	%	4.4	%	4.4	%	5.5	%	6.2	%	5.8	%	6.7	%	5.8	%	6.2	%	5.7	%	7.6	%
2010 ⁶	4.7	%	4.8	%	4.9	%	4.0	%	4.6	%	4.9	%	5.4	%	5.6	%	5.5	%	5.2	%	5.5	%	5.9	%	6.4	%	4.9	%

THE FUND WILL TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED EXCESS RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR NEGATIVE, SHOULD BE TAKEN AS AN

INDICATION OF THE FUND’S FUTURE PERFORMANCE.

LEGEND:


Symbol	Index Commodity	Symbol	Index Commodity
CL	Light Sweet Crude Oil (WTI)	AL	Aluminum
HO	Heating Oil	LX	Zinc
XB	RBOB Gasoline	LP	Copper Grade A
NG	Natural Gas	C	Corn
CO	Brent Crude	W	Wheat
GC	Gold	S	Soybeans
SI	Silver	SB	Sugar

Please refer to notes and legends that follow on page 43.

-6-

INDEX COMMODITY WEIGHTS TABLE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™



	CL⁷				HO⁷				XB⁷				NG⁷				CO⁷				GC⁷				SI⁷

	High		Low		High		Low		High		Low		High		Low		High		Low		High		Low		High		Low
1997⁵	12.5	%	12.2	%	12.5	%	12.2	%	13.0	%	12.5	%	5.8	%	5.5	%	12.7	%	11.7	%	7.8	%	8.0	%	2.2	%	2.6	%
1998	12.1	%	11.7	%	12.4	%	12.1	%	12.7	%	11.6	%	5.3	%	5.3	%	11.5	%	10.9	%	8.3	%	8.9	%	2.6	%	2.2	%
1999	13.1	%	11.9	%	12.8	%	11.4	%	13.3	%	11.5	%	5.0	%	5.3	%	13.3	%	11.5	%	7.6	%	9.2	%	2.0	%	2.5	%
2000	15.1	%	12.9	%	15.6	%	12.5	%	16.1	%	13.0	%	7.9	%	5.0	%	14.7	%	12.8	%	5.0	%	7.6	%	1.3	%	2.0	%
2001	13.4	%	11.8	%	12.5	%	11.5	%	12.8	%	11.7	%	6.0	%	5.4	%	12.2	%	11.2	%	8.4	%	8.4	%	1.9	%	2.1	%
2002	12.5	%	12.3	%	13.1	%	11.8	%	12.8	%	12.2	%	6.0	%	4.2	%	14.2	%	12.0	%	7.9	%	8.6	%	1.9	%	2.2	%
2003	12.8	%	12.2	%	12.7	%	12.3	%	12.5	%	12.5	%	5.7	%	7.1	%	12.5	%	13.3	%	7.9	%	7.7	%	2.1	%	1.9	%
2004	16.5	%	12.6	%	15.9	%	12.4	%	14.5	%	12.4	%	6.0	%	5.7	%	16.0	%	12.4	%	5.4	%	8.0	%	1.8	%	2.2	%
2005	12.6	%	11.8	%	14.6	%	12.0	%	16.1	%	12.1	%	6.7	%	5.0	%	13.4	%	11.4	%	6.2	%	8.3	%	1.4	%	1.8	%
2006	11.1	%	11.4	%	10.9	%	11.1	%	12.0	%	11.5	%	3.0	%	3.9	%	11.0	%	11.4	%	9.1	%	8.7	%	2.9	%	2.3	%
2007	12.4	%	11.3	%	12.5	%	11.7	%	12.6	%	11.6	%	5.0	%	5.2	%	12.3	%	11.3	%	7.6	%	9.0	%	1.8	%	2.2	%
2008	13.7	%	11.3	%	14.9	%	11.4	%	13.1	%	11.3	%	6.2	%	5.5	%	13.8	%	11.5	%	5.9	%	10.0	%	1.6	%	2.3	%
2009	12.1	%	9.8	%	11.9	%	8.9	%	12.1	%	10.5	%	5.1	%	4.1	%	12.2	%	9.8	%	8.4	%	13.3	%	2.1	%	3.6	%
2010 ⁶	12.0	%	11.6	%	11.9	%	12.1	%	11.9	%	12.1	%	5.7	%	4.8	%	11.9	%	12.0	%	7.7	%	9.9	%	1.9	%	2.3	%

THE FUND WILL NOT TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR NEGATIVE, SHOULD BE TAKEN AS AN

INDICATION OF THE FUND’S FUTURE PERFORMANCE.

LEGEND:


Symbol	Index Commodity	Symbol	Index Commodity
CL	Light Sweet Crude Oil (WTI)	AL	Aluminum
HO	Heating Oil	LX	Zinc
XB	RBOB Gasoline	LP	Copper Grade A
NG	Natural Gas	C	Corn
CO	Brent Crude	W	Wheat
GC	Gold	S	Soybeans
SI	Silver	SB	Sugar

Please refer to notes and legends that follow on page 43.

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INDEX COMMODITY WEIGHTS TABLE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™



	AL⁷				LX⁷				LP⁷				C⁷				W⁷				S⁷				SB⁷

	High		Low		High		Low		High		Low		High		Low		High		Low		High		Low		High		Low
1997⁵	3.9	%	4.3	%	3.6	%	4.2	%	3.7	%	3.9	%	5.8	%	5.9	%	5.4	%	5.4	%	5.7	%	5.8	%	5.4	%	5.9	%
1998	4.2	%	4.4	%	4.2	%	4.7	%	3.9	%	4.1	%	5.9	%	6.2	%	5.6	%	5.7	%	5.8	%	6.0	%	5.5	%	6.1	%
1999	4.3	%	4.4	%	4.2	%	5.1	%	4.2	%	4.1	%	5.2	%	6.3	%	4.9	%	5.5	%	5.1	%	5.7	%	5.0	%	5.5	%
2000	2.8	%	4.5	%	2.8	%	4.4	%	3.0	%	4.3	%	3.3	%	5.4	%	3.3	%	5.2	%	3.6	%	5.5	%	5.5	%	5.0	%
2001	4.3	%	4.7	%	3.6	%	4.7	%	4.0	%	4.7	%	4.8	%	6.0	%	5.2	%	5.9	%	4.8	%	6.0	%	6.1	%	5.9	%
2002	3.8	%	4.7	%	3.9	%	4.6	%	3.8	%	4.9	%	5.1	%	5.7	%	4.8	%	5.8	%	5.2	%	5.8	%	5.0	%	5.2	%
2003	4.1	%	3.8	%	4.2	%	3.9	%	4.2	%	3.9	%	5.3	%	5.1	%	5.4	%	4.6	%	5.5	%	5.7	%	5.2	%	6.0	%
2004	3.1	%	4.2	%	3.0	%	4.3	%	3.7	%	4.4	%	3.0	%	5.4	%	3.1	%	5.4	%	3.2	%	5.8	%	4.8	%	4.9	%
2005	3.3	%	4.5	%	3.9	%	4.9	%	4.7	%	4.6	%	3.5	%	5.7	%	4.0	%	5.6	%	4.3	%	6.0	%	5.3	%	6.4	%
2006	5.1	%	4.7	%	7.4	%	5.2	%	7.0	%	4.9	%	4.7	%	5.6	%	4.8	%	5.7	%	4.3	%	5.3	%	6.8	%	8.4	%
2007	3.7	%	4.7	%	3.6	%	3.9	%	3.9	%	3.6	%	5.9	%	6.8	%	6.3	%	6.4	%	6.3	%	6.8	%	6.0	%	5.6	%
2008	3.4	%	3.9	%	1.9	%	5.0	%	3.4	%	4.1	%	6.9	%	5.5	%	4.8	%	6.2	%	6.4	%	5.8	%	4.0	%	6.4	%
2009	4.3	%	3.5	%	4.4	%	5.3	%	4.4	%	4.4	%	5.5	%	6.2	%	5.8	%	6.7	%	5.8	%	6.2	%	5.7	%	7.6	%
2010 ⁶	4.7	%	4.8	%	4.9	%	4.0	%	4.6	%	4.9	%	5.4	%	5.6	%	5.5	%	5.2	%	5.5	%	5.9	%	6.4	%	4.9	%

THE FUND WILL NOT TRADE WITH A VIEW TO TRACKING THE

DEUTSCHE BANK LIQUID COMMODITY INDEX–OPTIMUM YIELD DIVERSIFIED TOTAL RETURN™ OVER TIME.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE OR NEGATIVE, SHOULD BE TAKEN AS AN

INDICATION OF THE FUND’S FUTURE PERFORMANCE.

LEGEND:


Symbol	Index Commodity	Symbol	Index Commodity
CL	Light Sweet Crude Oil (WTI)	AL	Aluminum
HO	Heating Oil	LX	Zinc
XB	RBOB Gasoline	LP	Copper Grade A
NG	Natural Gas	C	Corn
CO	Brent Crude	W	Wheat
GC	Gold	S	Soybeans
SI	Silver	SB	Sugar

Please refer to notes and legends that follow on page 43.

-8-


*All Statistics from July 31, 1998 to June 30, 2010.**
VARIOUS STATISTICAL MEASURES	DBLCI-OY Diversified ER™^8,9		DBLCI-OY Diversified TR™^8,9		GSCI-TR¹⁰		RICI-TR¹¹		DJ UBS-TR¹²
Annualized Changes to Index Level¹³	13.5	%	16.9	%	6.1	%	10.9	%	7.0	%
Average rolling 3 month daily volatility¹⁴	19.0	%	19.0	%	24.0	%	18.9	%	16.7	%
Sharpe Ratio¹⁵	0.5	6	0.7	4	0.1	4	0.4	3	0.2	5
% of months with positive change¹⁶	57%		62%		57	%	62	%	59	%
Average monthly positive change¹⁷	4.8	%	4.7	%	5.5	%	4.4	%	3.9	%
Average monthly negative change¹⁸	-3.9	%	-4.1	%	-5.9	%	-4.6	%	-4.1	%

ANNUALIZED INDEX LEVELS¹⁹	DBLCI-OY Diversified ER™		DBLCI-OY Diversified TR™		GSCI-TR		RICI-TR		DJ UBS-TR
1 year	0.6%		0.7%		-5.4	%	1.4	%	2.7	%
3 year	-3.5%		-2.3%		-12.4	%	-6.8	%	-8.3	%
5 year	3.6%		6.2%		-8.1	%	-0.5	%	-1.3	%
7 year	12.6%		15.2%		0.0	%	6.3	%	3.5	%

* July 31, 1998 represents the first date on which statistical data was available for each of DBLCI-OY Diversified ER, DBLCI-OY Diversified TR, GSCI-TR, RICI-TR and DJUBS-TR.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE.

WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN JANUARY 2007 CERTAIN INFORMATION RELATING TO THE INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.

NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE.

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD SEPTEMBER 1997 (BASE DATE OF THE INDEX) THROUGH DECEMBER 2006 (INCEPTION DATE OF THE INDEX), THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX METHODOLOGY, AND SELECTION OF INDEX COMMODITIES, IN HINDSIGHT.

NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE COMMODITIES MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK THE INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF THE INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND.

THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUND AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS.

Please refer to notes and legends that follow on page 43.

-9-

COMPARISON OF THE VARIOUS COMMODITIES INDICES

(July 31, 1998* – June 30, 2010)

LOGO

* July 31, 1998 represents the first date on which statistical data was available for each of DBLCI Diversified TR, DBLCI Diversified ER, DBLCI-OY TR, DBLCI TR, RICI-TR, DJUBS-TR and DBLCI-OY ER.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE.

Each of DBLCI Diversified TR, DBLCI Diversified ER, DBLCI –OY TR, DBLCI TR, GSCI– TR, RICI– TR, DJUBS– TR and DBLCI –OY ER are indices and do not reflect actual trading.

Each of the indices are calculated on an excess return basis and does not reflect any fees or expenses.

WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN JANUARY 2007, CERTAIN INFORMATION RELATING TO THE INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD SEPTEMBER 1997 (BASE DATE OF THE INDEX) THROUGH DECEMBER 2006 (INCEPTION OF THE INDEX), THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX METHODOLOGY, AND SELECTION OF INDEX COMMODITIES, IN HINDSIGHT.

Please refer to notes and legends that follow on page 43.

-10-

COMPARISON OF ANNUAL RETURNS OF THE VARIOUS COMMODITIES INDICES

(July 31, 1998* – June 30, 2010)

LOGO

* July 31, 1998 represents the first date on which statistical data was available for each of DBLCI Diversified TR, DBLCI Diversified ER, DBLCI-OY TR, DBLCI TR, RICI-TR, DJUBS-TR and DBLCI-OY ER.

NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE.

Each of DBLCI Diversified TR, DBLCI Diversified ER, DBLCI –OY TR, DBLCI TR, GSCI– TR, RICI– TR, DJUBS– TR and DBLCI –OY ER are indices and do not reflect actual trading.

Each of the indices are calculated on an excess return basis and does not reflect any fees or expenses.

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD SEPTEMBER 1997 (BASE DATE OF THE INDEX) THROUGH DECEMBER 2006 (INCEPTION OF THE INDEX). THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX METHODOLOGY, AND SELECTION OF INDEX COMMODITIES, IN HINDSIGHT.

Please refer to notes and legends that follow on page 43.

-11-

NOTES AND LEGENDS:

1.	“High” reflects the highest closing level of the Index during the applicable year.

2.	“Low” reflects the lowest closing level of the Index during the applicable year.

3.	“Annual Index Changes” reflect the change to the Index level on an annual basis as of December 31 of each applicable year.

4.	“Index Changes Since Inception” reflect the change of the Index closing levels since inception on a compounded annual basis as of December 31 of each applicable year.

5.	Closing levels as of inception on September 3, 1997.

6.	Closing levels as of June 30, 2010.

The Deutsche Bank Liquid Commodity Index–Optimum Yield Diversified Excess Return™ and Deutsche Bank Liquid Commodity Index–Optimum Yield Diversified Total Return™ reflect the change in market value of the following underlying index commodities: (1) CL (Light Sweet Crude Oil (WTI)), (2) HO (Heating Oil), (3) XB (RBOB Gasoline), (4) NG (Natural Gas), (5) CO (Brent Crude), (6) GC (Gold), (7) SI (Silver), (8) AL (Aluminum), (9) LX (Zinc), (10) LP (Copper Grade A), (11) C (Corn), (12) W (Wheat), (13) S (Soybeans) and (14) SB (Sugar), on an optimum yield basis.

“DBLCI–OY Diversified ER™” is the Deutsche Bank Liquid Commodity Index-Optimum Yield Diversified Excess Return™ and “DBLCI–OY Diversified TR™” is the Deutsche Bank Liquid Commodity Index-Optimum Yield Diversified Total Return™. The DBLCI–OY Diversified ER™ is calculated on an excess return basis, which is unfunded and reflects the change in market value of the underlying index commodities. The DBLCI–OY Diversified TR™ is calculated on a total return basis, which is funded and reflects the change in market value of the underlying index commodities and interest income from a hypothetical basket of fixed income securities. Both DBLCI–OY Diversified ER™ and DBLCI–OY Diversified TR™ are calculated to reflect rolling on an optimum yield basis. Optimum yield enables each of DBLCI–OY Diversified ER™ and DBLCI–OY Diversified TR™ to rollover to the futures contract which generates the highest ‘roll yield,’ rather than select a new future based on a fixed schedule (e.g. monthly). The result will tend to maximize the benefits of rolling in backwardated markets and minimize the loss from rolling in contangoed markets.

If the Fund’s interest income from its holdings of fixed income securities were to exceed the Fund’s fees and expenses, the total return on an investment in the Fund is expected to outperform the DBLCI–OY Diversified ER™ and underperform the DBLCI–OY Diversified TR™. The only difference between the DBLCI–OY Diversified ER™ and the DBLCI–OY Diversified TR™ is that the DBLCI–OY Diversified ER™ does not include interest income from a hypothetical basket of fixed income securities while the DBLCI–OY Diversified TR™ does include such a component. The difference between the DBLCI–OY Diversified ER™ and the DBLCI–OY Diversified TR™ is attributable entirely to the hypothetical interest income from this hypothetical basket of fixed income securities. If the Fund’s interest income from its holdings of fixed-income securities exceeds the Fund’s fees and expenses, then the amount of such excess is expected to be distributed periodically. The market price of the Shares is expected to track closely the DBLCI–OY Diversified ER™. The total return on an investment in the Fund over any period is the sum of the capital appreciation or depreciation of the Shares over the period, plus the amount of any distributions during the period. Consequently, the Fund’s total return is expected to outperform the DBLCI–OY Diversified ER™ by the amount of the excess, if any, of its interest income over its fees and expenses but, as a result of the Fund’s fees and expenses, the total return on the Fund is expected to underperform the DBLCI–OY Diversified TR™. If the Fund’s fees and expenses were to exceed the Fund’s interest income from its holdings of fixed income securities, the total return on an investment in the Fund is expected to underperform the DBLCI–OY Diversified ER™.

10.

“GSCI – TR” is the S&P GSCI Commodity Index^® calculated on a total return basis. The GSCI is designed to provide investors with a reliable and publicly available benchmark for investment in the commodity market. The GSCI is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures that is broadly diversified across the spectrum of commodities. In turn, the GSCI provides investors with a representative and realistic picture of realizable returns attainable in the commodities markets.

-12-

11.

“RICI – TR” is the Rogers International Commodity Index calculated on a total return basis. RICI represents the value of a basket of commodities employed in the global economy, ranging from agricultural products (such as wheat, corn and cotton) and energy products (including crude oil, gasoline and natural gas) to metals and minerals (including gold, silver, aluminum and lead). As of its launch in 1998 there were thirty-five different contracts represented in the Index. As of 2009, the Index represents thirty-six different contracts. The value of each component is based on monthly closing prices of the corresponding futures and/or forward contracts, each of which is valued as part of a fixed-weight portfolio. The RICI-TR Index was developed to be an effective measure of the price action of raw materials on a worldwide basis. The broad based representation of commodities contracts is intended to provide two important characteristics: The large number of contracts and underlying raw materials represents “diversification” and the global coverage of those contracts reflects the current state of international trade and commerce.

12.

“DJ UBS – TR” is the Dow Jones - UBS Commodity Index^SMcalculated on a total return basis. The DJ UBS is designed to be a highly liquid and diversified benchmark for the commodity futures market. The DJ-UBS is composed of futures contracts on 19 physical commodities. The DJ-UBS is composed of commodities traded on U.S. exchanges, with the exception of aluminum, nickel and zinc, which trade on the London Metal Exchange (LME). An Oversight Committee meets annually to determine the composition of the index in accordance with the rules established in the DJ-UBSCI Handbook. Committee members are drawn from the academic, financial and legal communities. The most recent Oversight Committee meeting took place in August 2008, with changes in index composition effective January 2009.

13.	“Annualized Changes to Index Level” reflect the change to the level of the applicable index level on an annual basis as of December 31 of each applicable year.

14.

“Average rolling 3 month daily volatility.” The daily volatility reflects the relative rate at which the price of the applicable index moves up and down, which is found by calculating the annualized standard deviation of the daily change in price. In turn, an average of this value is calculated on a 3 month rolling basis.

15.

“Sharpe Ratio” compares the annualized rate of return minus the annualized risk free rate of return to the annualized variability — often referred to as the “standard deviation” — of the monthly rates of return. A Sharpe Ratio of 1:1 or higher indicates that, according to the measures used in calculating the ratio, the rate of return achieved by a particular strategy has equaled or exceeded the risks assumed by such strategy. The risk-free rate of return that was used in all the Sharpe Ratio calculations was assumed to be 2.81%.

16.	“% of months with positive change” during the period from inception to June 30, 2010.

17.	“Average monthly positive change” during the period from inception to June 30, 2010.

18.	“Average monthly negative change” during the period from inception to June 30, 2010.

19.	“Annualized Index Levels” reflect the change to the level of the applicable index on an annual basis as of December 31 of each the applicable time period (e.g., 1 year, 3, 5 or 7 years).

20.

The Deutsche Bank Liquid Commodity Index–Optimum Yield Excess Return™ and Deutsche Bank Liquid Commodity Index–Optimum Yield Total Return™ reflect the change in market value of the following underlying index commodities: CL (Light Sweet Crude Oil), HO (Heating Oil), GC (Gold), AL (Aluminum), C (Corn) and W (Wheat) on an optimum yield basis. “DBLCI–TR™” is the Deutsche Bank Liquid Commodity Index–Total Return™. DBLCI–TR™ is composed of the same index commodities as both DBLCI–OYER™ and DBLCI–OYTR™ and is calculated on a total return basis. Unlike the DBLCI–OYER™ and DBLCI–OYTR™, each of which are rolled on an optimum yield basis, DBLCI–TR™ rolls both CL and HO on a monthly basis and GC, AL, C and W on an annual basis.

-13-

* As of October 19, 2009, the Fund commenced tracking the Deutsche Bank Liquid Commodity Index–Optimum Yield Diversified Excess Return™. Prior to October 19, 2009, the Fund tracked Deutsche Bank Liquid Commodity Index–Optimum Yield Excess Return™.

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD SEPTEMBER 1997 THROUGH DECEMBER 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX METHODOLOGY, AND SELECTION OF INDEX COMMODITIES, IN HINDSIGHT.

ALTHOUGH THE INDEX SPONSOR WILL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE INDEX FROM SOURCE(S) WHICH THE INDEX SPONSOR CONSIDERS RELIABLE, THE INDEX SPONSOR WILL NOT INDEPENDENTLY VERIFY SUCH INFORMATION AND DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN. THE INDEX SPONSOR WILL NOT BE LIABLE (WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR IN THE INDEX AND THE INDEX SPONSOR IS UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN.

UNLESS OTHERWISE SPECIFIED, NO TRANSACTION RELATING TO THE INDEX IS SPONSORED, ENDORSED, SOLD OR PROMOTED BY THE INDEX SPONSOR AND THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES AS TO (A) THE ADVISABILITY OF PURCHASING OR ASSUMING ANY RISK IN CONNECTION WITH ANY SUCH TRANSACTION, (B) THE LEVELS AT WHICH THE INDEX STANDS AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE, (C) THE RESULTS TO BE OBTAINED BY THE ISSUER OF ANY SECURITY OR ANY COUNTERPARTY OR ANY SUCH ISSUER’S SECURITY HOLDERS OR CUSTOMERS OR ANY SUCH COUNTERPARTY’S CUSTOMERS OR COUNTERPARTIES OR ANY

-14-

OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN IN CONNECTION WITH ANY LICENSED RIGHTS OR FOR ANY OTHER USE, OR (D) ANY OTHER MATTER. THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN.

WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE INDEX SPONSOR HAVE ANY LIABILITY (WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.”

-15-