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EVMT vs USG

Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF

EVMTCNasdaq

USCF Gold Strategy Plus Income Fund

USGBNYSE Arca

Overlap

Expense ratio

USG −0.14pt a year

EVMT0.59%USG0.45%

Avg volume · 30D

USG 1.3×the volume

EVMT3.34KUSG4.23K

3Y return · a year

USG +16.3pt

EVMT+3.6%USG+19.9%

EVMT vs USG Performance

Oct 31, 2025 – Nov 2, 2026

+6.6%EVMT−5.1%USG

Oct 31, 2025 to Nov 2, 2026. EVMT +6.6%. USG −5.1%. Use the arrow keys to read each point.0%20%30%Oct 2025May 2026Nov 2026
Expense ratio
EVMT 0.59%
USG 0.45%, better
Fund size
EVMT $4M
USG $9M
1Y total return
EVMT +6.6%, better
USG −5.1%
Yield (12M)
EVMT 12.06%
USG 31.56%, better
Holdings
EVMT 3
USG 3
Avg volume (30D)
EVMT 3.34K sh
USG 4.23K sh, better
NAV per share
EVMT $16.40
USG $30.34
52W range

ETF.net Grade

EVMT: Cost 87, Risk 48, Mission not scored, Tradability 28, Holdings not scored, Durability 47. USG: Cost 99, Risk 32, Mission not scored, Tradability 27, Holdings not scored, Durability 39.
Pillar letters and Scores for EVMT, USG, with each pillar’s weight
PillarEVMTUSG
Cost30% weightA87A99Higher
Mission25% weightNot scoredNot scored
Risk15% weightC48HigherD32
Tradability15% weightD28HigherD27
Holdings10% weightNot scoredNot scored
Durability5% weightC47HigherD39

Rank among Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EVMT and USG are both graded against the same 13 Commodity Futures funds, so their Grades compare head to head.

Commodity Futures⁠

Category · 13 funds
See all 13 ›

USG ranks 5th and EVMT 9th of 13 funds in the Commodity Futures Category.

  1. Rank 4BCMDTPIMCO Commodity Strategy Active Exchange-Traded FundScore 63
  2. Rank 5BUSGUSCF Gold Strategy Plus Income FundScore 62
  3. Rank 6BDBBInvesco DB Base Metals FundScore 61
  4. Rank 8CHARDSimplify Commodities Strategy No K-1 ETFScore 41
  5. Rank 9CEVMTInvesco Electric Vehicle Metals Commodity Strategy No K-1 ETFScore 40
  6. Rank 9CUSEUSCF Energy Commodity Strategy Absolute Return FundScore 40

Our read on each fund

ETF.net Research

EVMTCInvesco Electric Vehicle Metals Commodity Strategy No K-1 ETF

USGBUSCF Gold Strategy Plus Income Fund

In short

EVMT Most EV-metals funds buy the miners. EVMT buys the metals: an actively managed basket of futures on copper, nickel, aluminum, cobalt, iron ore and lithium, with 1099 tax reporting instead of a K-1.

USG Gold with a paycheck attached. USG holds claims on real gold bars plus collateralized futures, sells call options against that gold, and distributes quarterly, at one of the lowest fees in the commodity-futures crowd.

Stated mandate

EVMT The Fund seeks to outperform the excess-return version of its Benchmark, identified as SPGEVMUP.

USG The Fund seeks long-term results that generally correspond to gold-price performance while generating dividend income from selling gold call options and collateral interest. It obtains gold exposure through gold warrants, collateralized futures, and related derivatives.

Why people hold it

  • EVMT Owns the commodity, not the company. Futures on iron ore, copper, aluminum, nickel, cobalt and lithium mean no mine strikes, balance sheets or equity-market beta riding along.invesco.comsec.gov
  • Actively managed and benchmark-aware: it aims to outperform the excess-return version of the S&P GSCI Electric Vehicle Metals Index rather than simply mirror it.invesco.com
  • The "No K-1" in the name is the whole point: a 1940 Act fund, so futures-based metals exposure shows up on a standard 1099 at tax time.invesco.com
  • The benchmark reweights twice a year (January and July) toward the metals used most in EV production, so the mix follows the recipe rather than a fixed list.invesco.com
  • USG At 0.45% a year it charges well under the 0.79% cohort median, and less than top-ranked commodity peers PDBC, SOYB and WEAT.
  • Gold that throws off cash: the fund writes call options against its gold exposure and earns collateral interest, then pays shareholders quarterly.uscfinvestments.com
  • Exposure comes via COMEX gold warrants (ownership claims on bars in licensed depositories) and fully collateralized futures, actively run through a Cayman subsidiary capped at 25% of assets.alpsinc.com
  • USCF states the fund delivers its gold-plus-income strategy without a K-1, sparing the tax-form headache common to commodity products.uscfinvestments.comalpsinc.com

Worth knowing

  • EVMT Costs 0.74% a year, above the cohort median of 0.65% and well above miner funds like PICK (0.39%) and REMX (0.53%).
  • A small fund that trades thinly, so spreads can run wider than the category's household names.
  • Futures carry roll costs, and a handful of metals prices drive everything. No miner earnings or dividends soften a flat stretch in the metals themselves.invesco.com
  • USG Covered calls swap upside for income. Above the strike plus premium collected, further gold gains go to the option buyer, while the fund keeps the downside if gold slides.alpsinc.com
  • A small fund that trades thinly, so bid-ask spreads can run wider than on the household-name gold ETFs.
  • Payouts can include return of capital, meaning part of a distribution may be capital coming back rather than income the fund earned.

Full EVMT profile⁠

Full USG profile⁠

EVMT vs USG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EVMT vs USG Cost

Overpaying EVMT vs USG

$2,594

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EVMT 0.59%

    $11,635

  • USG 0.45%

    $9,041

$10,000
30 years

Cost over time

  • EVMT 0.59%
  • USG 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530EVMT $11,635USG $9,041

Year by year

YearEVMTUSGOverpaying
10$1,058$812$246
20$4,051$3,128$923
30$11,635$9,041$2,594

Expense ratio

  • 0.59%EVMT
  • 0.45%USG, cheaper
  • Middle half of Commodity Futures funds
  • Median 0.79%

USG cheapest of 13 funds

EVMT 2nd cheapest of 13 funds

EVMT vs USG Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
EVMT 12.06%
USG 31.56%, better
Payout (12M)
EVMT $2.00
USG $9.52
Last payment
EVMT $2.00
USG $0.17
Ex-dividend
EVMT Dec 22, 2025
USG Sep 21, 2026
Paid on
EVMT Dec 26, 2025
USG Sep 23, 2026
Frequency
EVMT Annual
USG Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

EVMTAnnual · 4 paymentsAll EVMT payments⁠
One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 19, 2022 $0.21; Dec 18, 2023 $0.93; Dec 23, 2024 $0.53; Dec 22, 2025 $2.00. Use the arrow keys to read each point.$0$1020232026YTD
USGQuarterly · 18 paymentsAll USG payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Jun 27, 2022 $0.17; Sep 27, 2022 $0.44; Dec 27, 2022 $0.12; Mar 21, 2023 $0.18; Jun 20, 2023 $0.26; Sep 19, 2023 $0.84; Dec 19, 2023 $0.80; Mar 19, 2024 $0.17; Jun 20, 2024 $0.09; Sep 20, 2024 $1.59; Dec 23, 2024 $0.33; Mar 19, 2025 $0.16; Jun 20, 2025 $0.21; Sep 22, 2025 $0.21; Dec 22, 2025 $8.92; Mar 20, 2026 $0.19; Jun 18, 2026 $0.25; Sep 21, 2026 $0.17. Use the arrow keys to read each point.$0$1020232026YTD

EVMT vs USG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
EVMT 16.0%, betterUSG 17.1%
Return per unit of riskSharpe ratio, 3 years
EVMT −0.03USG 0.87, better
Worst fallMax drawdown, 5 years
EVMT −48.3%since Apr 2022USG −28.8%since Nov 2021
Market sensitivityBeta, 5 years
EVMT 0.69USG 0.28

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