KRBN vs. ZSB

Last updated Jul 15, 2026

KRBN (KraneShares Global Carbon ETF) and ZSB (USCF Sustainable Battery Metals Strategy Fund) are both exchange-traded funds - KRBN is a Commodities fund tracking the IHS Markit Global Carbon Index, while ZSB is a Lithium & Battery Metals fund tracking the S&P GSCI Electric Vehicle Meals Index. Both are passively managed. Over the past 3 years, KRBN returned 0.09%/yr vs -0.16%/yr for ZSB. At a 0.28 correlation, their price movements are largely independent. KRBN charges 0.79%/yr vs 0.59%/yr for ZSB.

Performance

KRBN vs. ZSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Global Carbon ETF (KRBN) and USCF Sustainable Battery Metals Strategy Fund (ZSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KRBN achieves a -4.41% return, which is significantly lower than ZSB's 4.29% return.

KRBN

• 1D: 0.65%
• 1M: 4.12%
• 6M: -5.53%
• YTD: -4.41%
• 1Y: 15.24%
• 3Y*: 0.09%
• 5Y*: 6.66%
• 10Y*: —

ZSB

• 1D: 0.66%
• 1M: -4.06%
• 6M: -8.61%
• YTD: 4.29%
• 1Y: 58.26%
• 3Y*: -0.16%
• 5Y*: —
• 10Y*: —

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

KRBN vs. ZSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KRBN KraneShares Global Carbon ETF	-4.41%	23.11%	-13.56%	9.51%
ZSB USCF Sustainable Battery Metals Strategy Fund	4.29%	64.34%	-19.70%	-31.38%

Correlation

The correlation between KRBN and ZSB is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	0.28

Return for Risk

KRBN vs. ZSB — Risk / Return Rank

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

KRBN

KRBN Risk / Return Rank: 23
KRBN Sharpe Ratio Rank: 27
KRBN Sortino Ratio Rank: 25
KRBN Omega Ratio Rank: 27
KRBN Calmar Ratio Rank: 18
KRBN Martin Ratio Rank: 18

ZSB

ZSB Risk / Return Rank: 78
ZSB Sharpe Ratio Rank: 86
ZSB Sortino Ratio Rank: 75
ZSB Omega Ratio Rank: 86
ZSB Calmar Ratio Rank: 82
ZSB Martin Ratio Rank: 60

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.

KRBN vs. ZSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Global Carbon ETF (KRBN) and USCF Sustainable Battery Metals Strategy Fund (ZSB). 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.

	KRBN	ZSB	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.21	-1.40
Sortino ratio: Return per unit of downside risk	1.15	2.67	-1.52
Omega ratio: Gain probability vs. loss probability	1.15	1.41	-0.26
Calmar ratio: Return relative to maximum drawdown	0.61	3.50	-2.88
Martin ratio: Return relative to average drawdown	1.53	8.38	-6.84

KRBN vs. ZSB - Sharpe Ratio Comparison

The current KRBN Sharpe Ratio is 0.80, which is lower than the ZSB Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of KRBN and ZSB, 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

KRBN vs. ZSB - Drawdown Comparison

The maximum KRBN drawdown since its inception was -36.42%, smaller than the maximum ZSB drawdown of -49.26%. Use the drawdown chart below to compare losses from any high point for KRBN and ZSB.

Drawdown Indicators

	KRBN	ZSB	Difference
Max Drawdown Largest peak-to-trough decline	-36.42%	-49.26%	+12.84%
Max Drawdown (1Y) Largest decline over 1 year	-24.98%	-16.75%	-8.23%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	-43.22%	+15.88%
Max Drawdown (5Y) Largest decline over 5 years	-36.42%	—	—
Current Drawdown Current decline from peak	-12.86%	-12.07%	-0.79%
Average Drawdown Average peak-to-trough decline	-16.10%	-30.30%	+14.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.95%	6.97%	+2.98%

Volatility

KRBN vs. ZSB - Volatility Comparison

The current volatility for KraneShares Global Carbon ETF (KRBN) is 4.73%, while USCF Sustainable Battery Metals Strategy Fund (ZSB) has a volatility of 5.06%. This indicates that KRBN experiences smaller price fluctuations and is considered to be less risky than ZSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KRBN	ZSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	5.06%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	16.95%	21.55%	-4.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	26.57%	-7.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.83%	19.56%	+8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.45%	19.56%	+8.89%

KRBN vs. ZSB - Expense Ratio Comparison

KRBN has a 0.79% expense ratio, which is higher than ZSB's 0.59% expense ratio.

Dividends

KRBN vs. ZSB - Dividend Comparison

KRBN's dividend yield for the trailing twelve months is around 1.99%, more than ZSB's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021
KRBN KraneShares Global Carbon ETF	1.99%	1.90%	7.10%	7.60%	22.91%	0.49%
ZSB USCF Sustainable Battery Metals Strategy Fund	0.88%	0.92%	2.96%	3.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KRBN and ZSB in my portfolio?

KRBN and ZSB have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KRBN or ZSB?

ZSB has higher volatility (5.06%) compared to KRBN (4.73%). In terms of maximum drawdown, KRBN dropped -36.42% vs ZSB's -49.26%.

Which ETF is better, KRBN or ZSB?

On 3-year performance, KRBN leads with 0.09% vs -0.16% for ZSB. On fees, ZSB is cheaper at 0.59% per year. On volatility, KRBN has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KRBN or ZSB?

Over the 3-year period, KRBN has performed better with a 0.09% return vs -0.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KRBN or ZSB?

ZSB is cheaper with a 0.59% expense ratio, compared with 0.79% for KRBN.

Which ETF pays a higher dividend yield, KRBN or ZSB?

KRBN has the higher dividend yield at 1.99%, compared with 0.88% for ZSB.

What is the main difference between KRBN and ZSB?

KRBN is categorized as Commodities, while ZSB is Lithium & Battery Metals. KRBN tracks IHS Markit Global Carbon Index, while ZSB tracks S&P GSCI Electric Vehicle Meals Index. They also come from different issuers: CICC and USCF. Their fees differ too: 0.79% for KRBN and 0.59% for ZSB.

Which has better risk-adjusted returns?

ZSB currently has the higher Sharpe Ratio (2.21 vs 0.80), 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.