FLUD vs. ZSC

Last updated Jun 23, 2026

FLUD (Franklin Ultra Short Bond ETF) and ZSC (USCF Sustainable Commodity Strategy Fund) are both exchange-traded funds - FLUD is a Ultrashort Bond fund actively managed by Franklin Templeton, while ZSC is a Commodities fund actively managed by USCF. Both are actively managed. Over the past year, FLUD returned 4.25% vs 30.82% for ZSC. At a correlation of -0.05, they often move in opposite directions. FLUD charges 0.15%/yr vs 0.59%/yr for ZSC.

Performance

FLUD vs. ZSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Ultra Short Bond ETF (FLUD) and USCF Sustainable Commodity Strategy Fund (ZSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLUD achieves a 1.60% return, which is significantly lower than ZSC's 6.58% return.

FLUD

• 1D: 0.00%
• 1M: 0.23%
• YTD: 1.60%
• 6M: 1.77%
• 1Y: 4.25%
• 3Y*: 5.23%
• 5Y*: 3.65%
• 10Y*: —

ZSC

• 1D: 0.28%
• 1M: -3.16%
• YTD: 6.58%
• 6M: 8.81%
• 1Y: 30.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLUD vs. ZSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLUD Franklin Ultra Short Bond ETF	1.60%	5.36%	5.44%	2.62%
ZSC USCF Sustainable Commodity Strategy Fund	6.58%	28.43%	-14.39%	-10.63%

Correlation

The correlation between FLUD and ZSC is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Aug 9, 2023	-0.05

Return for Risk

FLUD vs. ZSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLUD

FLUD Risk / Return Rank: 92
FLUD Sharpe Ratio Rank: 85
FLUD Sortino Ratio Rank: 92
FLUD Omega Ratio Rank: 91
FLUD Calmar Ratio Rank: 97
FLUD Martin Ratio Rank: 97

ZSC

ZSC Risk / Return Rank: 76
ZSC Sharpe Ratio Rank: 79
ZSC Sortino Ratio Rank: 74
ZSC Omega Ratio Rank: 81
ZSC Calmar Ratio Rank: 80
ZSC Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLUD vs. ZSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ultra Short Bond ETF (FLUD) and USCF Sustainable Commodity Strategy Fund (ZSC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FLUD	ZSC	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.43	+0.23
Sortino ratio: Return per unit of downside risk	4.19	3.18	+1.01
Omega ratio: Gain probability vs. loss probability	1.57	1.46	+0.11
Calmar ratio: Return relative to maximum drawdown	9.76	4.03	+5.73
Martin ratio: Return relative to average drawdown	38.93	11.40	+27.53

FLUD vs. ZSC - Sharpe Ratio Comparison

The current FLUD Sharpe Ratio is 2.66, which is comparable to the ZSC Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FLUD and ZSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLUD vs. ZSC - Drawdown Comparison

The maximum FLUD drawdown since its inception was -1.66%, smaller than the maximum ZSC drawdown of -26.49%. Use the drawdown chart below to compare losses from any high point for FLUD and ZSC.

Drawdown Indicators

	FLUD	ZSC	Difference
Max Drawdown Largest peak-to-trough decline	-1.66%	-26.49%	+24.83%
Max Drawdown (1Y) Largest decline over 1 year	-0.44%	-7.69%	+7.25%
Max Drawdown (3Y) Largest decline over 3 years	-0.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-1.66%	—	—
Current Drawdown Current decline from peak	-0.08%	-5.28%	+5.20%
Average Drawdown Average peak-to-trough decline	-0.24%	-14.56%	+14.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	2.71%	-2.60%

Volatility

FLUD vs. ZSC - Volatility Comparison

The current volatility for Franklin Ultra Short Bond ETF (FLUD) is 0.39%, while USCF Sustainable Commodity Strategy Fund (ZSC) has a volatility of 3.23%. This indicates that FLUD experiences smaller price fluctuations and is considered to be less risky than ZSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLUD	ZSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	3.23%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	0.78%	9.40%	-8.62%
Volatility (1Y) Calculated over the trailing 1-year period	1.61%	12.77%	-11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.34%	12.23%	-10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.26%	12.23%	-10.97%

FLUD vs. ZSC - Expense Ratio Comparison

FLUD has a 0.15% expense ratio, which is lower than ZSC's 0.59% expense ratio.

Dividends

FLUD vs. ZSC - Dividend Comparison

FLUD's dividend yield for the trailing twelve months is around 4.27%, more than ZSC's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLUD Franklin Ultra Short Bond ETF	4.27%	4.51%	4.97%	4.72%	1.39%	0.92%	0.93%
ZSC USCF Sustainable Commodity Strategy Fund	1.64%	1.75%	2.18%	1.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLUD and ZSC in my portfolio?

FLUD and ZSC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLUD or ZSC?

ZSC has higher volatility (3.23%) compared to FLUD (0.39%). In terms of maximum drawdown, FLUD dropped -1.66% vs ZSC's -26.49%.

Which ETF is better, FLUD or ZSC?

On 1-year performance, ZSC leads with 30.82% vs 4.25% for FLUD. On fees, FLUD is cheaper at 0.15% per year. On volatility, FLUD has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLUD or ZSC?

Over the 1-year period, ZSC has performed better with a 30.82% return vs 4.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLUD or ZSC?

FLUD is cheaper with a 0.15% expense ratio, compared with 0.59% for ZSC.

Which ETF pays a higher dividend yield, FLUD or ZSC?

FLUD has the higher dividend yield at 4.27%, compared with 1.64% for ZSC.

What is the main difference between FLUD and ZSC?

FLUD is categorized as Ultrashort Bond, while ZSC is Commodities. They also come from different issuers: Franklin Templeton and USCF. Their fees differ too: 0.15% for FLUD and 0.59% for ZSC.

Which has better risk-adjusted returns?

FLUD currently has the higher Sharpe Ratio (2.66 vs 2.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.