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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember_label_en-US" xlink:label="lab_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ETF Risks, Costs Of Buying Or Selling Shares Risk Member</link:label>
    <link:label id="lab_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ETF Risks, Costs Of Buying Or Selling Shares Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember" xlink:to="lab_ck0001540305_ETFRisksCostsOfBuyingOrSellingSharesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember_label_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk, Large-Capitalization Investing Risk Member</link:label>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk, Large-Capitalization Investing Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember" xlink:to="lab_ck0001540305_MarketCapitalizationRiskLargeCapitalizationInvestingRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskMember_label_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk Member</link:label>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_MarketCapitalizationRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_MarketCapitalizationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_MarketCapitalizationRiskMember" xlink:to="lab_ck0001540305_MarketCapitalizationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_SectorRiskMember_label_en-US" xlink:label="lab_ck0001540305_SectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Risk Member</link:label>
    <link:label id="lab_ck0001540305_SectorRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_SectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_SectorRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_SectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_SectorRiskMember" xlink:to="lab_ck0001540305_SectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember_label_en-US" xlink:label="lab_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">S&amp;P 500 Total Return Index (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:label id="lab_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember_documentation_en-US" xlink:label="lab_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S&amp;P 500 Total Return Index (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:to="lab_ck0001540305_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember_label_en-US" xlink:label="lab_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Risk, Consumer Cyclical Sector Risk Member`</link:label>
    <link:label id="lab_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Risk, Consumer Cyclical Sector Risk Member`</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember" xlink:to="lab_ck0001540305_SectorRiskConsumerCyclicalSectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember_label_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk, Mid-Capitalization Investing Risk Member</link:label>
    <link:label id="lab_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Capitalization Risk, Mid-Capitalization Investing Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember" xlink:to="lab_ck0001540305_MarketCapitalizationRiskMidCapitalizationInvestingRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ManagementRiskMember_label_en-US" xlink:label="lab_ck0001540305_ManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Risk Member</link:label>
    <link:label id="lab_ck0001540305_ManagementRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ManagementRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ManagementRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ManagementRiskMember" xlink:to="lab_ck0001540305_ManagementRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember_label_en-US" xlink:label="lab_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ETF Risks, Shares May Trade At Prices Other Than NAV Risk Member</link:label>
    <link:label id="lab_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ETF Risks, Shares May Trade At Prices Other Than NAV Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember" xlink:to="lab_ck0001540305_ETFRisksSharesMayTradeAtPricesOtherThanNAVRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_S000065204Member_label_en-US" xlink:label="lab_ck0001540305_S000065204Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Acquirers Fund</link:label>
    <link:label id="lab_ck0001540305_S000065204Member_documentation_en-US" xlink:label="lab_ck0001540305_S000065204Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Acquirers Fund Series, S000065204 Series</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_S000065204Member" xlink:href="ck0001540305-20260826.xsd#ck0001540305_S000065204Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_S000065204Member" xlink:to="lab_ck0001540305_S000065204Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_HighPortfolioTurnoverRiskMember_label_en-US" xlink:label="lab_ck0001540305_HighPortfolioTurnoverRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">High Portfolio Turnover Risk Member</link:label>
    <link:label id="lab_ck0001540305_HighPortfolioTurnoverRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_HighPortfolioTurnoverRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">High Portfolio Turnover Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_HighPortfolioTurnoverRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_HighPortfolioTurnoverRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_HighPortfolioTurnoverRiskMember" xlink:to="lab_ck0001540305_HighPortfolioTurnoverRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember_label_en-US" xlink:label="lab_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ETF Risks, Authorized Participants, Market Makers, And Liquidity Providers Concentration Risk Member</link:label>
    <link:label id="lab_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ETF Risks, Authorized Participants, Market Makers, And Liquidity Providers Concentration Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember" xlink:to="lab_ck0001540305_ETFRisksAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ETFRisksTradingRiskMember_label_en-US" xlink:label="lab_ck0001540305_ETFRisksTradingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ETF Risks, Trading Risk Member</link:label>
    <link:label id="lab_ck0001540305_ETFRisksTradingRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ETFRisksTradingRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ETF Risks, Trading Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ETFRisksTradingRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ETFRisksTradingRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ETFRisksTradingRiskMember" xlink:to="lab_ck0001540305_ETFRisksTradingRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_C000211051Member_label_en-US" xlink:label="lab_ck0001540305_C000211051Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Acquirers Fund Class</link:label>
    <link:label id="lab_ck0001540305_C000211051Member_documentation_en-US" xlink:label="lab_ck0001540305_C000211051Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Acquirers Fund, C000211051</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_C000211051Member" xlink:href="ck0001540305-20260826.xsd#ck0001540305_C000211051Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_C000211051Member" xlink:to="lab_ck0001540305_C000211051Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_SectorRiskEnergySectorRiskMember_label_en-US" xlink:label="lab_ck0001540305_SectorRiskEnergySectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Risk, Energy Sector Risk Member</link:label>
    <link:label id="lab_ck0001540305_SectorRiskEnergySectorRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_SectorRiskEnergySectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Risk, Energy Sector Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_SectorRiskEnergySectorRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_SectorRiskEnergySectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_SectorRiskEnergySectorRiskMember" xlink:to="lab_ck0001540305_SectorRiskEnergySectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ETFRisksMember_label_en-US" xlink:label="lab_ck0001540305_ETFRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ETF Risks Member</link:label>
    <link:label id="lab_ck0001540305_ETFRisksMember_documentation_en-US" xlink:label="lab_ck0001540305_ETFRisksMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ETF Risks Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ETFRisksMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ETFRisksMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ETFRisksMember" xlink:to="lab_ck0001540305_ETFRisksMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_ModelsAndDataRiskMember_label_en-US" xlink:label="lab_ck0001540305_ModelsAndDataRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Models And Data Risk Member</link:label>
    <link:label id="lab_ck0001540305_ModelsAndDataRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_ModelsAndDataRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Models And Data Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_ModelsAndDataRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_ModelsAndDataRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_ModelsAndDataRiskMember" xlink:to="lab_ck0001540305_ModelsAndDataRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_SectorRiskIndustrialsSectorRiskMember_label_en-US" xlink:label="lab_ck0001540305_SectorRiskIndustrialsSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sector Risk, Industrials Sector Risk Member</link:label>
    <link:label id="lab_ck0001540305_SectorRiskIndustrialsSectorRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_SectorRiskIndustrialsSectorRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sector Risk, Industrials Sector Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_SectorRiskIndustrialsSectorRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_SectorRiskIndustrialsSectorRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_SectorRiskIndustrialsSectorRiskMember" xlink:to="lab_ck0001540305_SectorRiskIndustrialsSectorRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001540305_EquityMarketRiskMember_label_en-US" xlink:label="lab_ck0001540305_EquityMarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Market Risk Member</link:label>
    <link:label id="lab_ck0001540305_EquityMarketRiskMember_documentation_en-US" xlink:label="lab_ck0001540305_EquityMarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Market Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001540305_EquityMarketRiskMember" xlink:href="ck0001540305-20260826.xsd#ck0001540305_EquityMarketRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001540305_EquityMarketRiskMember" xlink:to="lab_ck0001540305_EquityMarketRiskMember" xlink:type="arc" order="1"/>
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