ZSB vs. BESF

Last updated Jun 3, 2026

ZSB (USCF Sustainable Battery Metals Strategy Fund) and BESF (Bastion Energy ETF) are both exchange-traded funds - ZSB is a Commodities fund tracking the S&P GSCI Electric Vehicle Meals Index, while BESF is a Energy Equities fund actively managed by Bastion. ZSB is passively managed, while BESF is actively managed. At a correlation of -0.07, they often move in opposite directions. ZSB charges 0.59%/yr vs 0.80%/yr for BESF.

Performance

ZSB vs. BESF - Performance Comparison

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

Returns By Period

In the year-to-date period, ZSB achieves a 14.02% return, which is significantly lower than BESF's 18.93% return.

ZSB

• 1D: 0.48%
• 1M: 2.34%
• YTD: 14.02%
• 6M: 28.85%
• 1Y: 78.36%
• 3Y*: 6.63%
• 5Y*: —
• 10Y*: —

BESF

• 1D: 1.00%
• 1M: -2.84%
• YTD: 18.93%
• 6M: 21.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZSB vs. BESF - Yearly Performance Comparison

	2026 (YTD)	2025
ZSB USCF Sustainable Battery Metals Strategy Fund	14.02%	55.63%
BESF Bastion Energy ETF	18.93%	41.15%

Correlation

The correlation between ZSB and BESF is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.07

Return for Risk

ZSB vs. BESF — Risk / Return Rank

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

ZSB

ZSB Risk / Return Rank: 81
ZSB Sharpe Ratio Rank: 88
ZSB Sortino Ratio Rank: 73
ZSB Omega Ratio Rank: 86
ZSB Calmar Ratio Rank: 85
ZSB Martin Ratio Rank: 71

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.

ZSB vs. BESF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Battery Metals Strategy Fund (ZSB) and Bastion Energy ETF (BESF). 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.

	ZSB	BESF	Difference
Sharpe ratio Return per unit of total volatility	2.99	—	—
Sortino ratio Return per unit of downside risk	3.38	—	—
Omega ratio Gain probability vs. loss probability	1.54	—	—
Calmar ratio Return relative to maximum drawdown	4.77	—	—
Martin ratio Return relative to average drawdown	13.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZSB	BESF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	2.83	-2.78

Drawdowns

ZSB vs. BESF - Drawdown Comparison

The maximum ZSB drawdown since its inception was -49.26%, which is greater than BESF's maximum drawdown of -9.89%. Use the drawdown chart below to compare losses from any high point for ZSB and BESF.

Drawdown Indicators

	ZSB	BESF	Difference
Max Drawdown Largest peak-to-trough decline	-49.26%	-9.89%	-39.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-43.22%	—	—
Current Drawdown Current decline from peak	-3.87%	-6.52%	+2.65%
Average Drawdown Average peak-to-trough decline	-30.98%	-2.43%	-28.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	—	—

Volatility

Volatility by Period

	ZSB	BESF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.31%	24.37%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.60%	24.37%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	24.37%	-4.77%

ZSB vs. BESF - Expense Ratio Comparison

ZSB has a 0.59% expense ratio, which is lower than BESF's 0.80% expense ratio.

Dividends

ZSB vs. BESF - Dividend Comparison

ZSB's dividend yield for the trailing twelve months is around 0.81%, less than BESF's 5.72% yield.

Position	TTM	2025	2024	2023
BESF Bastion Energy ETF	5.72%	6.39%	0.00%	0.00%
ZSB USCF Sustainable Battery Metals Strategy Fund	0.81%	0.92%	2.96%	3.59%

Frequently Asked Questions

Can I hold both ZSB and BESF in my portfolio?

ZSB and BESF have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZSB or BESF?

On fees, ZSB is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZSB or BESF?

ZSB is cheaper with a 0.59% expense ratio, compared with 0.80% for BESF.

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

BESF has the higher dividend yield at 5.72%, compared with 0.81% for ZSB.

What is the main difference between ZSB and BESF?

ZSB is categorized as Commodities, while BESF is Energy Equities. They also come from different issuers: USCF and Bastion. Their fees differ too: 0.59% for ZSB and 0.80% for BESF.