HGER vs. ZSC

Last updated Jun 4, 2026

HGER (Harbor Commodity All-Weather Strategy ETF) and ZSC (USCF Sustainable Commodity Strategy Fund) are both Commodities funds. HGER is passively managed, while ZSC is actively managed. Over the past year, HGER returned 41.90% vs 36.39% for ZSC. At a 0.32 correlation, their price movements are largely independent. HGER charges 0.68%/yr vs 0.59%/yr for ZSC.

Performance

HGER vs. ZSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Commodity All-Weather Strategy ETF (HGER) 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, HGER achieves a 28.12% return, which is significantly higher than ZSC's 9.47% return.

HGER

• 1D: -0.28%
• 1M: -2.72%
• YTD: 28.12%
• 6M: 27.93%
• 1Y: 41.90%
• 3Y*: 21.26%
• 5Y*: —
• 10Y*: —

ZSC

• 1D: -0.63%
• 1M: 0.21%
• YTD: 9.47%
• 6M: 15.02%
• 1Y: 36.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HGER vs. ZSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HGER Harbor Commodity All-Weather Strategy ETF	28.12%	20.08%	9.25%	-2.16%
ZSC USCF Sustainable Commodity Strategy Fund	9.47%	28.43%	-14.39%	-10.63%

Correlation

The correlation between HGER and ZSC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Aug 10, 2023	0.32

HGER vs. ZSC - Sectors Allocation Comparison

Sectors	HGER	ZSC
Basic Materials	102.4%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	33.2%
Real Estate	-	-
Technology	-	42.0%
Utilities	-	24.8%

Return for Risk

HGER vs. ZSC — Risk / Return Rank

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

HGER

HGER Risk / Return Rank: 78
HGER Sharpe Ratio Rank: 75
HGER Sortino Ratio Rank: 69
HGER Omega Ratio Rank: 76
HGER Calmar Ratio Rank: 88
HGER Martin Ratio Rank: 84

ZSC

ZSC Risk / Return Rank: 84
ZSC Sharpe Ratio Rank: 87
ZSC Sortino Ratio Rank: 83
ZSC Omega Ratio Rank: 87
ZSC Calmar Ratio Rank: 86
ZSC Martin Ratio Rank: 77

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.

HGER vs. ZSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) 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.

	HGER	ZSC	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.88	-0.39
Sortino ratio: Return per unit of downside risk	3.23	3.73	-0.50
Omega ratio: Gain probability vs. loss probability	1.46	1.54	-0.08
Calmar ratio: Return relative to maximum drawdown	5.20	4.76	+0.45
Martin ratio: Return relative to average drawdown	17.52	14.69	+2.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGER vs. ZSC - Sharpe Ratio Comparison

The current HGER Sharpe Ratio is 2.50, which is comparable to the ZSC Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of HGER 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.

Sharpe Ratios by Period

	HGER	ZSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.88	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.22	+0.69

Drawdowns

HGER vs. ZSC - Drawdown Comparison

The maximum HGER drawdown since its inception was -23.31%, smaller than the maximum ZSC drawdown of -26.49%. Use the drawdown chart below to compare losses from any high point for HGER and ZSC.

Drawdown Indicators

	HGER	ZSC	Difference
Max Drawdown Largest peak-to-trough decline	-23.31%	-26.49%	+3.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-7.69%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-8.84%	—	—
Current Drawdown Current decline from peak	-4.99%	-2.71%	-2.28%
Average Drawdown Average peak-to-trough decline	-7.66%	-14.74%	+7.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	2.48%	-0.08%

Volatility

HGER vs. ZSC - Volatility Comparison

Harbor Commodity All-Weather Strategy ETF (HGER) has a higher volatility of 4.02% compared to USCF Sustainable Commodity Strategy Fund (ZSC) at 3.19%. This indicates that HGER's price experiences larger fluctuations and is considered to be riskier than ZSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGER	ZSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	3.19%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	9.09%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	16.87%	12.70%	+4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.62%	12.24%	+5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	12.24%	+5.38%

HGER vs. ZSC - Expense Ratio Comparison

HGER has a 0.68% expense ratio, which is higher than ZSC's 0.59% expense ratio.

Dividends

HGER vs. ZSC - Dividend Comparison

HGER's dividend yield for the trailing twelve months is around 5.53%, more than ZSC's 1.60% yield.

Position	TTM	2025	2024	2023	2022
HGER Harbor Commodity All-Weather Strategy ETF	5.53%	7.09%	3.28%	7.24%	0.64%
ZSC USCF Sustainable Commodity Strategy Fund	1.60%	1.75%	2.18%	1.40%	0.00%

Frequently Asked Questions

Can I hold both HGER and ZSC in my portfolio?

HGER and ZSC have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HGER or ZSC?

HGER has higher volatility (4.02%) compared to ZSC (3.19%). In terms of maximum drawdown, HGER dropped -23.31% vs ZSC's -26.49%.

Which ETF is better, HGER or ZSC?

On 1-year performance, HGER leads with 41.90% vs 36.39% for ZSC. On fees, ZSC is cheaper at 0.59% per year. On volatility, ZSC has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HGER or ZSC?

Over the 1-year period, HGER has performed better with a 41.90% return vs 36.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HGER or ZSC?

ZSC is cheaper with a 0.59% expense ratio, compared with 0.68% for HGER.

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

HGER has the higher dividend yield at 5.53%, compared with 1.60% for ZSC.

What is the main difference between HGER and ZSC?

They also come from different issuers: Harbor and USCF. Their fees differ too: 0.68% for HGER and 0.59% for ZSC.

Which has better risk-adjusted returns?

ZSC currently has the higher Sharpe Ratio (2.88 vs 2.50), 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.