ZTRE vs. BESF

Last updated Aug 2, 2026

ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and BESF (Bastion Energy ETF) are both exchange-traded funds - ZTRE is a Short-Term Bond fund tracking the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while BESF is a Energy Equities fund actively managed by Bastion. ZTRE is passively managed, while BESF is actively managed. Over the past year, ZTRE returned 3.03% vs 58.60% for BESF. Their -0.22 correlation means they have often moved in opposite directions in the past. ZTRE charges 0.15%/yr vs 0.80%/yr for BESF.

Performance

ZTRE vs. BESF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) 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, ZTRE achieves a 0.80% return, which is significantly lower than BESF's 17.62% return.

ZTRE

• 1D: -0.04%
• 1M: -0.06%
• 6M: 0.41%
• YTD: 0.80%
• 1Y: 3.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.76%

BESF

• 1D: 1.19%
• 1M: 2.81%
• 6M: 7.68%
• YTD: 17.62%
• 1Y: 58.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 52.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BESF Bastion Energy ETF	$43.42K	$94.04K	$92.36K
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	$361.74K	$257.68K	$173.89K

ZTRE vs. BESF - Yearly Performance Comparison

	2026 (YTD)	2025
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	0.80%	3.72%
BESF Bastion Energy ETF	17.62%	38.76%

Correlation

The correlation between ZTRE and BESF is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.27
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	-0.22

Return for Risk

ZTRE vs. BESF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ZTRE

ZTRE Risk / Return Rank: 79
ZTRE Sharpe Ratio Rank: 80
ZTRE Sortino Ratio Rank: 85
ZTRE Omega Ratio Rank: 84
ZTRE Calmar Ratio Rank: 70
ZTRE Martin Ratio Rank: 76

BESF

BESF Risk / Return Rank: 88
BESF Sharpe Ratio Rank: 90
BESF Sortino Ratio Rank: 88
BESF Omega Ratio Rank: 85
BESF Calmar Ratio Rank: 94
BESF Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ZTRE vs. BESF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) 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.

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.

	ZTRE	BESF	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.22	-0.36
Sortino ratio: Return per unit of downside risk	2.80	3.00	-0.19
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	2.47	5.06	-2.60
Martin ratio: Return relative to average drawdown	9.68	11.87	-2.19

ZTRE vs. BESF - Sharpe Ratio Comparison

The current ZTRE Sharpe Ratio is 1.86, which is comparable to the BESF Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of ZTRE and BESF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZTRE vs. BESF - Drawdown Comparison

The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum BESF drawdown of -10.97%. Use the drawdown chart below to compare losses from any high point for ZTRE and BESF.

Drawdown Indicators

	ZTRE	BESF	Difference
Max Drawdown Largest peak-to-trough decline	-1.45%	-10.97%	+9.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-10.97%	+9.52%
Current Drawdown Current decline from peak	-0.10%	-7.55%	+7.45%
Average Drawdown Average peak-to-trough decline	-0.21%	-3.22%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	4.68%	-4.31%

Volatility

ZTRE vs. BESF - Volatility Comparison

The current volatility for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) is 0.65%, while Bastion Energy ETF (BESF) has a volatility of 7.28%. This indicates that ZTRE experiences smaller price fluctuations and is considered to be less risky than BESF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZTRE	BESF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	7.28%	-6.63%
Volatility (6M) Calculated over the trailing 6-month period	1.58%	15.33%	-13.75%
Volatility (1Y) Calculated over the trailing 1-year period	1.93%	25.02%	-23.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.10%	24.31%	-22.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.10%	24.31%	-22.21%

ZTRE vs. BESF - Expense Ratio Comparison

ZTRE has a 0.15% expense ratio, which is lower than BESF's 0.80% expense ratio.

Dividends

ZTRE vs. BESF - Dividend Comparison

ZTRE's dividend yield for the trailing twelve months is around 4.56%, less than BESF's 5.85% yield.

Position	TTM	2025	2024
BESF Bastion Energy ETF	5.85%	6.39%	0.00%
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	4.23%	4.37%	0.39%

Frequently Asked Questions

Can I hold both ZTRE and BESF in my portfolio?

ZTRE and BESF have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZTRE or BESF?

BESF has higher volatility (7.28%) compared to ZTRE (0.65%). In terms of maximum drawdown, ZTRE dropped -1.45% vs BESF's -10.97%.

Which ETF is better, ZTRE or BESF?

On 1-year performance, BESF leads with 58.60% vs 3.03% for ZTRE. On fees, ZTRE is cheaper at 0.15% per year. On volatility, ZTRE has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZTRE or BESF?

Over the 1-year period, BESF has performed better with a 58.60% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZTRE or BESF?

ZTRE is cheaper with a 0.15% expense ratio, compared with 0.80% for BESF.

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

BESF has the higher dividend yield at 5.85%, compared with 4.23% for ZTRE.

What is the main difference between ZTRE and BESF?

ZTRE is categorized as Short-Term Bond, while BESF is Energy Equities. They also come from different issuers: F/m and Bastion. Their fees differ too: 0.15% for ZTRE and 0.80% for BESF.

Which has better risk-adjusted returns?

BESF currently has the higher Sharpe Ratio (2.22 vs 1.86), 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.