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ZSB

GradeDNew York Stock Exchange Arca

USCF Sustainable Battery Metals Strategy Fund

Themes · USCF · Inception 2023-01-11

$21.89+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Jan 11, 2023.
Intraday session: up, 8 prints from 21.08 to 21.89. Range 21.08 to 21.89. Use the arrow keys to read each point.$21.00$21.20$21.40$21.60Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
0.79%
Fund size
$2M
1Y return
+40.6%
Yield · Last 12 months
0.88%
Holdings
32
Volume · 30D
0M sh
NAV per share
$21.65
52W range
low $15.72high $25.47

The ETF.net ZSB Grade

D

29/ 100

Rank 12 of 13 in Critical Materials⁠

Confidence Low

Six-pillar profile for ZSB. Scores out of 100: Cost 2, Risk 80, Mission not scored, Tradability 34, Holdings not scored, Durability 23. Strongest: Risk (80). Weakest: Cost (2). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned29This cap took−0Published score29 Grade D

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 2
    Category rank13/13 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 80
    Category rank2/13 · top 15%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 34
    Category rank11/13 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 23
    Category rank12/13 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on ZSB

ETF.net Research

DMost battery-metal funds buy mining stocks. ZSB goes at the metals themselves through futures and swaps, then buys carbon offsets sized to the emissions behind those positions. A commodity trade with an emissions ledger attached.

Stated mandate

The fund intends to invest primarily in metals-related derivatives and may use carbon-credit futures to offset the aggregate emissions associated with those metals derivatives.

Why people hold it

  1. 01Exposure to the metals, not the miners: futures and swaps on cobalt, copper, lithium, nickel and other electrification metals, so the ride follows metal prices rather than mining company margins, strikes and share issuance.nasdaq.com
  2. 02The green part is built into the mandate, not the marketing: the fund may buy carbon-credit futures to offset the estimated emissions tied to its metals positions. Almost nothing else in critical materials does this.prnewswire.com
  3. 03Actively managed and compact, roughly 30 positions, with the eligible metals list free to change as battery chemistry moves. No index committee waiting a year to notice.prnewswire.comnasdaq.com

Worth knowing

  1. 01At 0.79% a year it is priced above most of its peer group, where broad metals and mining options like PICK (0.39%) and REMX (0.53%) charge less for stock-based exposure.
  2. 02Small asset base and light trading volume. Spreads can widen and sizeable orders can push the price, so execution matters more here than in the cohort's giants.
  3. 03Futures-based commodity exposure has its own weather: contract rolls can add or subtract return, some battery metal contracts are thinly traded, and the fund only launched in 2023, so the track record is short.prnewswire.com

ZSB Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Stocks
Holdings
32
Top-10 weight
91%
Largest holding
TREASURY BILL 0 10/8/202621.1%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TREASURY BILL 0 10/8/202621.10%1,000,000$998K25
002—BNY CASH RESERVE17.32%819,721$820K13
003—US DOLLARS9.60%454,403$454K67
004—Aluminum Futures Dec269.16%5$433K2
005—Lithium LiOH COME Dec267.35%21$348K2
006—ECX EMISSION Dec266.31%3$299K2
007—MICRO COPPER Dec266.01%17$284K3
008—Cobalt Fastmarket Dec265.30%5$251K2
009—Micro Silver Dec264.26%3$201K2
010—LME ZINC FUTURE Dec264.15%2$196K2
011—LME NICKEL FUTURE Dec264.10%2$194K5
012—IODEX IO FUT Dec262.88%14$136K2
013—CCA Vintage 2026 Dec262.01%3$95K2
014—Lith Carb CIF CJK Dec261.85%5$87K2

Showing 1–14 of 14 holdings

ZSB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

ZSB$14,058
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. ZSB $14,058. SPY $11,723. Use the arrow keys to read each point.$9,009$12,796$16,584Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ZSB. Periods over one year show the average yearly return.
PeriodZSB
Year to date+3.8%
1 month−1.4%
3 months−3.5%
1 year+40.6%
3 years+7.0%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ZSB
YearReturn barZSB
2026 YTD+3.8%
2025+64.3%
2024−19.7%
2023−31.4%

Since listing, Jan 11, 2023

ZSB in the news

ZSB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.88%Last 12 months
Payout per share
$0.19Last 12 months
Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 27, 2023 $0.60; Dec 27, 2024 $0.38; Dec 22, 2025 $0.19. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 23, 2025$0.19
Dec 27, 2024Dec 31, 2024$0.38
Dec 27, 2023Dec 29, 2023$0.60

ZSB Risk

How much the fund’s monthly returns vary, scaled to a year.
21.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.15
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−49.3%
44 months · trough Sep 2024
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.77
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

ZSB Cost

Expense ratio0.79%
  • The middle half of Critical Materials funds
  • Median 0.65%

Every other Critical Materials fund charges less.

ZSB costs $79.00 a year on $10,000. The median Critical Materials fund costs $65.00.