ZSC vs. BDRY

Last updated Apr 1, 2026

Compare and contrast key facts about USCF Sustainable Commodity Strategy Fund (ZSC) and Breakwave Dry Bulk Shipping ETF (BDRY).

ZSC and BDRY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSC is an actively managed fund by USCF. It was launched on Aug 8, 2023. BDRY is a passively managed fund by ETFMG that tracks the performance of the Breakwave Dry Freight Futures Index. It was launched on Mar 22, 2018.

Performance

ZSC vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USCF Sustainable Commodity Strategy Fund (ZSC) and Breakwave Dry Bulk Shipping ETF (BDRY). The values are adjusted to include any dividend payments, if applicable.

ZSC vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZSC USCF Sustainable Commodity Strategy Fund	4.85%	28.43%	-14.39%	-10.63%
BDRY Breakwave Dry Bulk Shipping ETF	13.68%	44.24%	-47.40%	128.46%

Returns By Period

In the year-to-date period, ZSC achieves a 4.85% return, which is significantly lower than BDRY's 13.68% return.

ZSC

• 1D: 0.44%
• 1M: 1.03%
• YTD: 4.85%
• 6M: 17.52%
• 1Y: 30.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 0.30%
• 1M: -17.40%
• YTD: 13.68%
• 6M: 32.76%
• 1Y: 59.52%
• 3Y*: -0.43%
• 5Y*: -11.08%
• 10Y*: —

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

ZSC vs. BDRY - Expense Ratio Comparison

ZSC has a 0.59% expense ratio, which is lower than BDRY's 3.76% expense ratio.

BDRY

Breakwave Dry Bulk Shipping ETF

ZSC

USCF Sustainable Commodity Strategy Fund

Return for Risk

ZSC vs. BDRY — Risk / Return Rank

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

ZSC

ZSC Risk / Return Rank: 93
ZSC Sharpe Ratio Rank: 93
ZSC Sortino Ratio Rank: 94
ZSC Omega Ratio Rank: 93
ZSC Calmar Ratio Rank: 95
ZSC Martin Ratio Rank: 90

BDRY

BDRY Risk / Return Rank: 74
BDRY Sharpe Ratio Rank: 78
BDRY Sortino Ratio Rank: 77
BDRY Omega Ratio Rank: 66
BDRY Calmar Ratio Rank: 87
BDRY Martin Ratio Rank: 61

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.

ZSC vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Commodity Strategy Fund (ZSC) and Breakwave Dry Bulk Shipping ETF (BDRY). 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.

	ZSC	BDRY	Difference
Sharpe ratio Return per unit of total volatility	2.27	1.39	+0.87
Sortino ratio Return per unit of downside risk	2.95	1.92	+1.03
Omega ratio Gain probability vs. loss probability	1.43	1.23	+0.19
Calmar ratio Return relative to maximum drawdown	4.05	2.63	+1.42
Martin ratio Return relative to average drawdown	12.11	5.84	+6.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZSC vs. BDRY - Sharpe Ratio Comparison

The current ZSC Sharpe Ratio is 2.27, which is higher than the BDRY Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of ZSC and BDRY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZSC	BDRY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.39	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	-0.18	+0.27

Correlation

The correlation between ZSC and BDRY is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZSC vs. BDRY - Dividend Comparison

ZSC's dividend yield for the trailing twelve months is around 1.67%, while BDRY has not paid dividends to shareholders.

	TTM	2025	2024	2023
ZSC USCF Sustainable Commodity Strategy Fund	1.67%	1.75%	2.18%	1.40%
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

ZSC vs. BDRY - Drawdown Comparison

The maximum ZSC drawdown since its inception was -26.49%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for ZSC and BDRY.

Drawdown Indicators

	ZSC	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-26.49%	-89.16%	+62.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-21.60%	+13.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-2.33%	-75.98%	+73.65%
Average Drawdown Average peak-to-trough decline	-15.63%	-58.10%	+42.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	9.71%	-7.14%

Volatility

ZSC vs. BDRY - Volatility Comparison

The current volatility for USCF Sustainable Commodity Strategy Fund (ZSC) is 3.98%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 14.92%. This indicates that ZSC experiences smaller price fluctuations and is considered to be less risky than BDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZSC	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	14.92%	-10.94%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	30.83%	-20.24%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	42.98%	-29.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.42%	62.16%	-49.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.42%	62.97%	-50.55%