ETF Evaluator:
USCF Sustainable Battery Metals Stgy Fd ()
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(as of Aug 20)
Best Performing in Commodities Focused Over the Last Year
| 2251.5% | Breakwave Tanker Shipping ETF (BWET) |
| 81.8% | United States Gasoline (UGA) |
| 64.2% | Commodities Focused () |
| 63.3% | Invesco DB Energy (DBE) |
| 61.8% | United States Oil (USO) |
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ETF Details
USCF Sustainable Battery Metals Stgy Fd Overview
USCF Sustainable Battery Metals Stgy Fd (ZSB) is an actively managed Commodities Commodities Focused exchange-traded fund (ETF). USCF Investments launched the ETF in 2023.
The investment seeks total return.
The fund seeks to achieve its investment objective by investing primarily in metals derivative instruments (“Metals Derivatives”) and, to a lesser extent in the equity securities of companies that are economically tied to the metals that are necessary for “Electrification.” As an important component of the fund’s sustainable strategy, the fund also seeks to achieve a “net-zero” carbon footprint by purchasing carbon offset investments (“Carbon Offset Investments”) in an amount equal to the estimated aggregate carbon emissions of the fund’s holdings. It is non-diversified.
About USCF Sustainable Battery Metals Stgy Fd (ZSB)
There are 3 members of the management team with an average tenure of 3.56 years: Andrew Ngim (2023), Seth Lancaster (2023) and Darius Coby (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg Commodity TR USD index with a weighting of 100%. USCF Sustainable Battery Metals Stgy Fd has 3 securities in its portfolio. The top 10 holdings constitute 62.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
USCF Sustainable Battery Metals Stgy Fd is part of the Real Assets global asset class and is within the Commodities ETF group. USCF Sustainable Battery Metals Stgy Fd has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). USCF Sustainable Battery Metals Stgy Fd has 83.7% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $4 billion average for the Commodities Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ZSB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The USCF Sustainable Battery Metals Stgy Fd expense ratio is average compared to funds in the Commodities Focused category. USCF Sustainable Battery Metals Stgy Fd has an expense ratio of 0.59%, which is 23% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. USCF Sustainable Battery Metals Stgy Fd has a portfolio turnover rate of 138%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 15% for the Commodities Focused category.
Recently, in the month of July 2026, USCF Sustainable Battery Metals Stgy Fd returned -1.4%, which earned it a grade of F, as the Commodities Focused category had an average return of 5.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
USCF Sustainable Battery Metals Stgy Fd has a trailing yield of 0.90%, which is below the 7.11% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
USCF Sustainable Battery Metals Stgy Fd Grades
Year to date, the ETF has returned 1.6%, 29.8 percentage points worse than the category, which translates into a grade of C. The fund has returned 52.5% over the past year (grade of A) and 1.1% over the past three years (grade of D).
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ZSB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ZSB Return (NAV) | -1.4% | -8.5% | 52.5% | 1.1% | na | na |
| ZSB Return (Price) | 1.7% | -6.8% | 54.9% | 1.7% | na | na |
| NAV +/- Price Return | -3.053% | -1.681% | -2.413% | -0.556% | na | na |
| Commodities Focused Avg | 5.1% | -6.8% | 64.2% | 14.3% | 9.6% | 6.0% |
| ZSB Grade (NAV) | F | C | A | D | na | na |
| +/- Category (NAV) | -6.5% | -1.6% | -11.7% | -13.2% | na | na |
| ZSB Tax-Cost Ratio | na | na | 0.4% | 1.0% | na | na |
ZSB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ZSB Return (NAV) | 1.6% | 65.1% | -19.7% | na | na | na | na | na | na | na | na |
| ZSB Return (Price) | 3.7% | 61.4% | -18.3% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 1.321% | -0.057% | -0.069% | na | na | na | na | na | na | na | na |
| Commodities Focused Avg | 31.4% | 35.6% | 6.2% | -1.1% | 9.2% | 27.8% | 1.5% | 14.9% | -9.5% | 3.1% | 10.0% |
| ZSB Grade (NAV) | C | B | F | na | na | na | na | na | na | na | na |
| +/- Category | -29.8% | 29.5% | -25.9% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.74 |
| R-Squared: | 19% |
| Standard Deviation: | 22.7% |
| Category Risk Index: | 0.89 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.85 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | 138.0% |
| Expense Ratio: | 0.59% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.6 years | |||
| Average Tenure: 3.6 years | |||
| Managers (Year): Ngim Andrew (2023), Lancaster Seth (2023), Coby Darius (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 3 |
| % in Top 10 Holdings: | 62.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 16.3% |
| Cash: | 83.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | USCF Investments |
| Phone Number: | 800-920-0259 |
| Website: | www.uscfinvestments.com |
| Inception Date: | January 10, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.59% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
