ZSC Fees and Costs — USCF Sustainable Commodity Strategy Fund
Data updated: 2026-09-11
The net expense ratio is 0.59% (0.79% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0458% of average net assets, and portfolio turnover was 14%.
ZSC Fees and Expenses
Annual operating expenses and sales charges of ZSC. Prospectus, as of January 5, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.59% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
ZSC Costs Over Time
On $10,000 invested in ZSC, assuming 5% a year before costs, total costs come to $401 over 5 years, cutting the return by 0.67% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.59%) | $62 | $194 | $338 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $219 | $401 |
| Value after costs | $10,433 | $11,357 | $12,362 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
ZSC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0458%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $3.8M
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
ZSC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $1K | 95.04% |
| SOCOPA Sociedade Corretora Paulista SA Brazil | $34 | 2.72% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $28 | 2.24% |
ZSC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $3.7M | 96.36% |
| RBC CAPITAL MARKETS, LLC | $130K | 3.38% |
| SERENA ENERGIA SA | $10K | 0.26% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.