EIS vs. ION

Last updated Jun 14, 2026

EIS (iShares MSCI Israel ETF) and ION (Proshares S&P Global Core Battery Metals ETF) are both exchange-traded funds - EIS is a Foreign Large Cap Equities fund tracking the MSCI Israel Capped Investable Market Index (Net), while ION is a Lithium & Battery Metals fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, EIS returned 33.86%/yr vs 17.31%/yr for ION. At a 0.37 correlation, their price movements are largely independent. EIS charges 0.59%/yr vs 0.58%/yr for ION.

Performance

EIS vs. ION - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Israel ETF (EIS) and Proshares S&P Global Core Battery Metals ETF (ION). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIS achieves a 18.11% return, which is significantly higher than ION's 13.12% return.

EIS

• 1D: 1.32%
• 1M: -0.03%
• YTD: 18.11%
• 6M: 18.71%
• 1Y: 61.04%
• 3Y*: 33.86%
• 5Y*: 15.01%
• 10Y*: 12.35%

ION

• 1D: 4.15%
• 1M: -8.49%
• YTD: 13.12%
• 6M: 23.38%
• 1Y: 112.30%
• 3Y*: 17.31%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EIS vs. ION - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIS iShares MSCI Israel ETF	18.11%	45.11%	34.50%	5.48%	-8.18%
ION Proshares S&P Global Core Battery Metals ETF	13.12%	108.37%	-20.02%	-14.10%	-8.45%

Correlation

The correlation between EIS and ION is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022	0.37

EIS vs. ION - Sectors Allocation Comparison

Sectors	EIS	ION
Financial Services	32.0%	13.0%
Technology	19.7%	-
Industrials	10.8%	1.7%
Healthcare	9.6%	1.7%
Real Estate	8.8%	2.3%
Utilities	6.5%	-
Consumer Cyclical	2.7%	-
Communication Services	2.5%	-
Energy	2.3%	2.3%
Consumer Defensive	1.8%	-
Basic Materials	1.7%	13.7%

Return for Risk

EIS vs. ION — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIS

EIS Risk / Return Rank: 85
EIS Sharpe Ratio Rank: 86
EIS Sortino Ratio Rank: 85
EIS Omega Ratio Rank: 80
EIS Calmar Ratio Rank: 89
EIS Martin Ratio Rank: 86

ION

ION Risk / Return Rank: 84
ION Sharpe Ratio Rank: 92
ION Sortino Ratio Rank: 79
ION Omega Ratio Rank: 78
ION Calmar Ratio Rank: 89
ION Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EIS vs. ION - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Israel ETF (EIS) and Proshares S&P Global Core Battery Metals ETF (ION). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EIS	ION	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.81	-0.40
Sortino ratio: Return per unit of downside risk	3.29	3.09	+0.20
Omega ratio: Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	4.62	4.74	-0.12
Martin ratio: Return relative to average drawdown	15.86	15.01	+0.85

EIS vs. ION - Sharpe Ratio Comparison

The current EIS Sharpe Ratio is 2.41, which is comparable to the ION Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of EIS and ION, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EIS vs. ION - Drawdown Comparison

The maximum EIS drawdown since its inception was -51.94%, roughly equal to the maximum ION drawdown of -52.08%. Use the drawdown chart below to compare losses from any high point for EIS and ION.

Drawdown Indicators

	EIS	ION	Difference
Max Drawdown Largest peak-to-trough decline	-51.94%	-52.08%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-23.30%	+10.90%
Max Drawdown (3Y) Largest decline over 3 years	-24.10%	-46.47%	+22.37%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.88%	—	—
Current Drawdown Current decline from peak	-5.61%	-14.68%	+9.07%
Average Drawdown Average peak-to-trough decline	-13.89%	-23.64%	+9.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	7.34%	-3.73%

Volatility

EIS vs. ION - Volatility Comparison

The current volatility for iShares MSCI Israel ETF (EIS) is 9.80%, while Proshares S&P Global Core Battery Metals ETF (ION) has a volatility of 15.42%. This indicates that EIS experiences smaller price fluctuations and is considered to be less risky than ION based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIS	ION	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.80%	15.42%	-5.62%
Volatility (6M) Calculated over the trailing 6-month period	17.62%	31.74%	-14.12%
Volatility (1Y) Calculated over the trailing 1-year period	23.81%	39.38%	-15.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.06%	31.51%	-9.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	31.51%	-10.30%

EIS vs. ION - Expense Ratio Comparison

EIS has a 0.59% expense ratio, which is higher than ION's 0.58% expense ratio.

Dividends

EIS vs. ION - Dividend Comparison

EIS's dividend yield for the trailing twelve months is around 1.22%, less than ION's 1.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIS iShares MSCI Israel ETF	1.22%	1.44%	1.38%	1.39%	1.66%	1.04%	0.16%	2.06%	0.87%	2.02%	1.78%	2.55%
ION Proshares S&P Global Core Battery Metals ETF	1.41%	1.63%	1.74%	2.23%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EIS and ION in my portfolio?

EIS and ION have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIS or ION?

ION has higher volatility (15.42%) compared to EIS (9.80%). In terms of maximum drawdown, EIS dropped -51.94% vs ION's -52.08%.

Which ETF is better, EIS or ION?

On 3-year performance, EIS leads with 33.86% vs 17.31% for ION. On fees, ION is cheaper at 0.58% per year. On volatility, EIS has been the lower-risk option at 9.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIS or ION?

Over the 3-year period, EIS has performed better with a 33.86% return vs 17.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIS or ION?

ION is cheaper with a 0.58% expense ratio, compared with 0.59% for EIS.

Which ETF pays a higher dividend yield, EIS or ION?

ION has the higher dividend yield at 1.41%, compared with 1.22% for EIS.

What is the main difference between EIS and ION?

EIS is categorized as Foreign Large Cap Equities, while ION is Lithium & Battery Metals. EIS tracks MSCI Israel Capped Investable Market Index (Net), while ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.59% for EIS and 0.58% for ION.

Which has better risk-adjusted returns?

ION currently has the higher Sharpe Ratio (2.81 vs 2.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.