USCF Sustainable Battery Metals Strategy Fund (ZSB) Performance
ZSB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.3% since Dec 31, 2025
- 1 year
- +13.5% total return
- 3 years
- +6.7% a year
- Since first price
- −3.2% a year since 2023
ZSB trailing returns vs SPY, QQQ, AGG
| Period | ZSB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.6% | −4.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.7% | −5.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −12.7% | −12.7% | +7.8% | +8.4% | −1.5% |
| YTD | −2.3% | −2.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.5% | +12.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +21.6%+6.7%/yr | +12.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJan 11, 2023 | −11.6%−3.2%/yr | −17.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ZSB vs SPY
From Jan 11, 2023: ZSB grew to $8,844, SPY to $20,145.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ZSB returns by calendar year
1 of 2 full years positive. Best 2025 (+64.3%), worst 2024 (−19.7%). 2026 is year to date.
ZSB annual returns table
| Year | ZSB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −2.3% | −57.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +64.3% | −15.6% | +17.7% | +20.8% | +7.2% |
| 2024 | −19.7% | −22.4% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ZSB largest drawdowns
Now 57.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 15, 2026 | −57.2% | Oct 19, 2026 | not yet | 4 days | 8 days so far |
| Jan 31, 2023 | −49.3% | Sep 10, 2024 | Jan 23, 2026 | 1.6 years | 3.0 years |
| Jan 27, 2026 | −21.5% | Oct 14, 2026 | Oct 15, 2026 | 9 months | 9 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ZSB risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +5.4% | −4.7% |
| Volatility (annualized) | 22.0% | 21.7% |
| Sharpe ratio | 0.15 | -0.32 |
| Sortino ratio | 0.24 | -0.46 |
| Best month | +15.6% | +15.6% |
| Worst month | −10.1% | −10.2% |
| Best 12 months | +83.2% | +83.2% |
| Worst 12 months | −22.5% | −41.9% |
| Positive months | 53% | 48% |
| Beta vs S&P 500 | -0.04 | — |
| Correlation with S&P 500 | -0.03 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ZSB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 34 | −41.9% | +0.5% | +83.2% | 50% |
| 3-year (a year) | 10 | −2.7% | +3.0% | +6.8% | 90% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
ZSB performance overview
USCF Sustainable Battery Metals Strategy Fund (ZSB) returned +13.5% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned −3.2% a year, turning $10,000 into about $8,844. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −57.2%, from Oct 15, 2026 to Oct 19, 2026; the fund has not yet regained that high. Volatility has been 21.7% a year.
Related: ZSB chart, ZSB dividends. See the ZSB overview for the latest quote and fund facts.
ZSB performance FAQ
What is the ZSB return over the past year?
ZSB returned +13.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.4%.
How much would $10,000 invested in ZSB be worth?
$10,000 invested in ZSB at its first recorded close on January 11, 2023 would be worth about $8,844 on October 23, 2026 with distributions reinvested.
What was the worst year for ZSB?
The worst calendar year was 2024, with a total return of −19.7%. The best was 2025 at +64.3%.
What is the biggest drawdown of ZSB?
The largest peak-to-trough decline was −57.2% between October 15, 2026 and October 19, 2026. It has not yet recovered to that high; it is 57.2% below its peak.
How volatile is ZSB?
Over the past 3 years ZSB had an annualized volatility of 22.0% and a Sharpe ratio of 0.15 (excess return over 1–3 month T-bills per unit of risk).