ZSB vs. BWET
ZSB (USCF Sustainable Battery Metals Strategy Fund) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - ZSB is a Lithium & Battery Metals fund tracking the S&P GSCI Electric Vehicle Meals Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, ZSB returned 1.20%/yr vs 137.18%/yr for BWET. Their 0.04 correlation means their historical movements had little consistent relationship. ZSB charges 0.59%/yr vs 3.50%/yr for BWET.
Performance
ZSB vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, ZSB achieves a 2.41% return, which is significantly lower than BWET's 1,293.70% return.
ZSB
- 1D
- -0.91%
- 1M
- -0.65%
- 6M
- -5.21%
- YTD
- 2.41%
- 1Y
- 53.88%
- 3Y*
- 1.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.10%
BWET
- 1D
- 1.74%
- 1M
- 57.43%
- 6M
- 631.38%
- YTD
- 1,293.70%
- 1Y
- 2,229.63%
- 3Y*
- 137.18%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 147.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $41.53M | $35.69M | $28.56M | |
| $1.74K | $3.93K | $10.44K |
ZSB vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSB USCF Sustainable Battery Metals Strategy Fund | 2.41% | 64.34% | -19.70% | -21.96% |
BWET Breakwave Tanker Shipping ETF | 1,293.70% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between ZSB and BWET is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.04 |
The correlation between ZSB and BWET shifts across timeframes, from -0.06 (1 year) to 0.04 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZSB vs. BWET — Risk / Return Rank
ZSB
BWET
ZSB vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Battery Metals Strategy Fund (ZSB) and Breakwave Tanker Shipping ETF (BWET). 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.
| ZSB | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.87 | ||
| Sortino ratioReturn per unit of downside risk | -4.00 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.94 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 57.28 | -54.12 |
| Martin ratioReturn relative to average drawdown | 7.10 | 215.11 | -208.00 |
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Drawdowns
ZSB vs. BWET - Drawdown Comparison
The maximum ZSB drawdown since its inception was -49.26%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for ZSB and BWET.
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Drawdown Indicators
| ZSB | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.26% | -56.90% | +7.64% |
Max Drawdown (1Y)Largest decline over 1 year | -16.75% | -41.22% | +24.47% |
Max Drawdown (3Y)Largest decline over 3 years | -37.91% | -56.81% | +18.90% |
Current DrawdownCurrent decline from peak | -13.65% | 0.00% | -13.65% |
Average DrawdownAverage peak-to-trough decline | -30.05% | -23.41% | -6.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.43% | 10.95% | -3.52% |
Volatility
ZSB vs. BWET - Volatility Comparison
The current volatility for USCF Sustainable Battery Metals Strategy Fund (ZSB) is 3.57%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 32.52%. This indicates that ZSB experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSB | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 32.52% | -28.95% |
Volatility (6M)Calculated over the trailing 6-month period | 20.54% | 95.71% | -75.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.15% | 107.87% | -81.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.48% | 74.46% | -54.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.48% | 74.46% | -54.98% |
ZSB vs. BWET - Expense Ratio Comparison
ZSB has a 0.59% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
ZSB vs. BWET - Dividend Comparison
ZSB's dividend yield for the trailing twelve months is around 0.90%, while BWET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% |
ZSB USCF Sustainable Battery Metals Strategy Fund | 0.90% | 0.92% | 2.96% | 3.59% |
Frequently Asked Questions
ZSB and BWET have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (32.52%) compared to ZSB (3.57%). In terms of maximum drawdown, ZSB dropped -49.26% vs BWET's -56.90%.
On 3-year performance, BWET leads with 137.18% vs 1.20% for ZSB. On fees, ZSB is cheaper at 0.59% per year. On volatility, ZSB has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BWET has performed better with a 137.18% return vs 1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZSB is cheaper with a 0.59% expense ratio, compared with 3.50% for BWET.
ZSB has the higher dividend yield at 0.90%, compared with 0.00% for BWET.
ZSB is categorized as Lithium & Battery Metals, while BWET is Commodities. ZSB tracks S&P GSCI Electric Vehicle Meals Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: USCF and Amplify. Their fees differ too: 0.59% for ZSB and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (21.89 vs 2.02), 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.
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