ZSB vs. ENFR

Last updated Jun 3, 2026

ZSB (USCF Sustainable Battery Metals Strategy Fund) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - ZSB is a Commodities fund tracking the S&P GSCI Electric Vehicle Meals Index, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. Both are passively managed. Over the past 3 years, ZSB returned 6.63%/yr vs 27.95%/yr for ENFR. At a 0.06 correlation, their price movements are largely independent. ZSB charges 0.59%/yr vs 0.35%/yr for ENFR.

Performance

ZSB vs. ENFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USCF Sustainable Battery Metals Strategy Fund (ZSB) and Alerian Energy Infrastructure ETF (ENFR). 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 ENFR's 24.47% return.

ZSB

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

ENFR

• 1D: 1.21%
• 1M: 0.07%
• YTD: 24.47%
• 6M: 25.55%
• 1Y: 26.54%
• 3Y*: 27.95%
• 5Y*: 20.27%
• 10Y*: 11.95%

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

ZSB vs. ENFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZSB USCF Sustainable Battery Metals Strategy Fund	14.02%	64.34%	-19.70%	-31.38%
ENFR Alerian Energy Infrastructure ETF	24.47%	5.88%	42.17%	11.42%

Correlation

The correlation between ZSB and ENFR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023	0.06

The correlation between ZSB and ENFR shifts across timeframes, from -0.13 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

ZSB vs. ENFR - Sectors Allocation Comparison

Sectors	ZSB	ENFR
Basic Materials	90.9%	-
Industrials	8.3%	3.4%
Technology	0.8%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	98.8%
Financial Services	-	0.2%
Healthcare	-	-
Real Estate	-	-
Utilities	-	1.0%

Return for Risk

ZSB vs. ENFR — 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

ENFR

ENFR Risk / Return Rank: 54
ENFR Sharpe Ratio Rank: 52
ENFR Sortino Ratio Rank: 51
ENFR Omega Ratio Rank: 49
ENFR Calmar Ratio Rank: 64
ENFR Martin Ratio Rank: 52

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. ENFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Battery Metals Strategy Fund (ZSB) and Alerian Energy Infrastructure ETF (ENFR). 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	ENFR	Difference
Sharpe ratio Return per unit of total volatility	2.99	1.82	+1.17
Sortino ratio Return per unit of downside risk	3.38	2.50	+0.88
Omega ratio Gain probability vs. loss probability	1.54	1.31	+0.23
Calmar ratio Return relative to maximum drawdown	4.77	3.25	+1.51
Martin ratio Return relative to average drawdown	13.48	8.93	+4.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZSB vs. ENFR - Sharpe Ratio Comparison

The current ZSB Sharpe Ratio is 2.99, which is higher than the ENFR Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ZSB and ENFR, 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

	ZSB	ENFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	1.82	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.34	-0.29

Drawdowns

ZSB vs. ENFR - Drawdown Comparison

The maximum ZSB drawdown since its inception was -49.26%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for ZSB and ENFR.

Drawdown Indicators

	ZSB	ENFR	Difference
Max Drawdown Largest peak-to-trough decline	-49.26%	-68.28%	+19.02%
Max Drawdown (1Y) Largest decline over 1 year	-16.75%	-8.64%	-8.11%
Max Drawdown (3Y) Largest decline over 3 years	-43.22%	-15.58%	-27.64%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.64%	—
Current Drawdown Current decline from peak	-3.87%	-5.05%	+1.18%
Average Drawdown Average peak-to-trough decline	-30.98%	-15.99%	-14.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	3.15%	+2.77%

Volatility

ZSB vs. ENFR - Volatility Comparison

The current volatility for USCF Sustainable Battery Metals Strategy Fund (ZSB) is 5.39%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 6.30%. This indicates that ZSB experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZSB	ENFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	6.30%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	22.64%	11.48%	+11.16%
Volatility (1Y) Calculated over the trailing 1-year period	26.31%	14.69%	+11.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.60%	19.30%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	24.69%	-5.09%

ZSB vs. ENFR - Expense Ratio Comparison

ZSB has a 0.59% expense ratio, which is higher than ENFR's 0.35% expense ratio.

Dividends

ZSB vs. ENFR - Dividend Comparison

ZSB's dividend yield for the trailing twelve months is around 0.81%, less than ENFR's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENFR Alerian Energy Infrastructure ETF	4.03%	4.77%	4.41%	5.48%	5.23%	7.86%	7.57%	5.81%	3.98%	2.98%	3.31%	3.34%
ZSB USCF Sustainable Battery Metals Strategy Fund	0.81%	0.92%	2.96%	3.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZSB and ENFR in my portfolio?

ZSB and ENFR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZSB or ENFR?

ENFR has higher volatility (6.30%) compared to ZSB (5.39%). In terms of maximum drawdown, ZSB dropped -49.26% vs ENFR's -68.28%.

Which ETF is better, ZSB or ENFR?

On 3-year performance, ENFR leads with 27.95% vs 6.63% for ZSB. On fees, ENFR is cheaper at 0.35% per year. On volatility, ZSB has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZSB or ENFR?

Over the 3-year period, ENFR has performed better with a 27.95% return vs 6.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZSB or ENFR?

ENFR is cheaper with a 0.35% expense ratio, compared with 0.59% for ZSB.

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

ENFR has the higher dividend yield at 4.03%, compared with 0.81% for ZSB.

What is the main difference between ZSB and ENFR?

ZSB is categorized as Commodities, while ENFR is Energy Equities. ZSB tracks S&P GSCI Electric Vehicle Meals Index, while ENFR tracks Alerian Midstream Energy Select Index. They also come from different issuers: USCF and SS&C. Their fees differ too: 0.59% for ZSB and 0.35% for ENFR.

Which has better risk-adjusted returns?

ZSB currently has the higher Sharpe Ratio (2.99 vs 1.82), 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.