Note 1 - Organization Invesco DB Silver Fund (the Fund), a separate series of Invesco DB Multi-Sector Commodity Trust (the Trust), a Delaware statutory trust organized in seven separate series, was formed on August 3, 2006. 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. Invesco Capital Management LLC (Invesco) has served as the managing owner (the Managing Owner), commodity pool operator and commodity trading advisor of the Trust and the Fund, since February 23, 2015. The Managing Owner holds 40 general shares (the General Shares) of the Fund. The fiscal year end of the Fund is December 31st. The Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Silver Index Excess Return (the Index) over time, plus the excess, if any, of the sum of the Funds interest income from its holdings of United States Treasury Obligations (Treasury Income), dividends from its holdings in money market mutual funds (affiliated or otherwise) (Money Market Income) and dividends or distributions of capital gains from its holdings of T-Bill ETFs (as defined below) (T-Bill ETF Income) over the expenses of the Fund. The Fund invests in futures contracts in an attempt to track its Index. The Index is intended to reflect the change in market value of the silver sector. Silver (the Index Commodity) is the single commodity comprising the Index. The Fund may invest directly in United States Treasury Obligations. The Fund may also gain exposure to United States Treasury Obligations through investments in exchange-traded funds (ETFs) (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) The Fund holds as collateral United States Treasury Obligations, money market mutual funds and T-Bill ETFs (affiliated or otherwise), if any, for margin and/or cash management purposes. While the Fund's performance reflects the appreciation and depreciation of those holdings, the Fund's performance, whether positive or negative, is driven primarily by its strategy of trading futures contracts with the aim of seeking to track the Index. The Commodity Futures Trading Commission (the CFTC) and certain futures exchanges impose position limits on futures contracts that reference the Index Commodity (the Index Contracts). The Managing Owner may determine to invest in other futures contracts if at any time it is impractical or inefficient to gain full or partial exposure to the Index Commodity through the use of Index Contracts. These other futures contracts may or may not be based on the Index Commodity. When they are not, the Managing Owner may seek to select futures contracts that it reasonably believes tend to exhibit trading prices that correlate with an Index Contract. 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 (Creation Units). 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) on January 5, 2007 and, since November 25, 2008, has been listed on the NYSE Arca, Inc. (the NYSE Arca). This Annual Report (the Annual Report) covers the years ended December 31, 2019, 2018 and 2017. Past performance of the Fund is not necessarily indicative of future performance.