ZSB vs. CMDY
ZSB (USCF Sustainable Battery Metals Strategy Fund) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - ZSB is a Lithium & Battery Metals fund tracking the S&P GSCI Electric Vehicle Meals Index, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, ZSB returned 1.91%/yr vs 11.39%/yr for CMDY. At a 0.39 correlation, their price movements are largely independent. ZSB charges 0.59%/yr vs 0.28%/yr for CMDY.
Performance
ZSB vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, ZSB achieves a 4.41% return, which is significantly lower than CMDY's 14.22% return.
ZSB
- 1D
- -2.97%
- 1M
- -7.84%
- YTD
- 4.41%
- 6M
- 6.25%
- 1Y
- 59.70%
- 3Y*
- 1.91%
- 5Y*
- —
- 10Y*
- —
CMDY
- 1D
- -1.43%
- 1M
- -9.33%
- YTD
- 14.22%
- 6M
- 12.70%
- 1Y
- 21.95%
- 3Y*
- 11.39%
- 5Y*
- 9.18%
- 10Y*
- —
ZSB vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSB USCF Sustainable Battery Metals Strategy Fund | 4.41% | 64.34% | -19.70% | -31.38% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 14.22% | 15.81% | 5.43% | -6.32% |
Correlation
The correlation between ZSB and CMDY is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.39 |
The correlation between ZSB and CMDY shifts across timeframes, from 0.28 (1 year) to 0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZSB vs. CMDY — Risk / Return Rank
ZSB
CMDY
ZSB vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Battery Metals Strategy Fund (ZSB) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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 | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.25 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 1.75 | +1.83 |
| Martin ratioReturn relative to average drawdown | 9.56 | 7.16 | +2.39 |
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Drawdowns
ZSB vs. CMDY - Drawdown Comparison
The maximum ZSB drawdown since its inception was -49.26%, which is greater than CMDY's maximum drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for ZSB and CMDY.
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Drawdown Indicators
| ZSB | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.26% | -31.19% | -18.07% |
Max Drawdown (1Y)Largest decline over 1 year | -16.75% | -12.56% | -4.19% |
Max Drawdown (3Y)Largest decline over 3 years | -43.22% | -12.56% | -30.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | -11.97% | -12.56% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -30.58% | -13.11% | -17.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.27% | 3.09% | +3.18% |
Volatility
ZSB vs. CMDY - Volatility Comparison
USCF Sustainable Battery Metals Strategy Fund (ZSB) has a higher volatility of 5.63% compared to iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) at 3.63%. This indicates that ZSB's price experiences larger fluctuations and is considered to be riskier than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSB | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 3.63% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 22.46% | 14.45% | +8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.67% | 16.35% | +10.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 15.77% | +3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 14.63% | +4.99% |
ZSB vs. CMDY - Expense Ratio Comparison
ZSB has a 0.59% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
ZSB vs. CMDY - Dividend Comparison
ZSB's dividend yield for the trailing twelve months is around 0.88%, less than CMDY's 11.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 11.29% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
ZSB USCF Sustainable Battery Metals Strategy Fund | 0.88% | 0.92% | 2.96% | 3.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSB and CMDY have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSB has higher volatility (5.63%) compared to CMDY (3.63%). In terms of maximum drawdown, ZSB dropped -49.26% vs CMDY's -31.19%.
On 3-year performance, CMDY leads with 11.39% vs 1.91% for ZSB. On fees, CMDY is cheaper at 0.28% per year. On volatility, CMDY has been the lower-risk option at 3.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDY has performed better with a 11.39% return vs 1.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDY is cheaper with a 0.28% expense ratio, compared with 0.59% for ZSB.
CMDY has the higher dividend yield at 11.29%, compared with 0.88% for ZSB.
ZSB is categorized as Lithium & Battery Metals, while CMDY is Commodities. ZSB tracks S&P GSCI Electric Vehicle Meals Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: USCF and iShares. Their fees differ too: 0.59% for ZSB and 0.28% for CMDY.
ZSB currently has the higher Sharpe Ratio (2.26 vs 1.36), 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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