ION vs. BITO
ION (Proshares S&P Global Core Battery Metals ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - ION is a Energy Equities fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net, while BITO is a Cryptocurrency fund actively managed by ProShares. ION is passively managed, while BITO is actively managed. Over the past 3 years, ION returned 18.91%/yr vs 25.27%/yr for BITO. At a 0.25 correlation, their price movements are largely independent. ION charges 0.58%/yr vs 0.95%/yr for BITO.
Performance
ION vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, ION achieves a 14.02% return, which is significantly higher than BITO's -26.37% return.
ION
- 1D
- -3.20%
- 1M
- -9.27%
- YTD
- 14.02%
- 6M
- 27.44%
- 1Y
- 123.41%
- 3Y*
- 18.91%
- 5Y*
- —
- 10Y*
- —
BITO
- 1D
- -2.94%
- 1M
- -18.61%
- YTD
- -26.37%
- 6M
- -30.81%
- 1Y
- -41.01%
- 3Y*
- 25.27%
- 5Y*
- —
- 10Y*
- —
ION vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 14.02% | 108.37% | -20.02% | -14.10% | -8.86% |
BITO ProShares Bitcoin Strategy ETF | -26.37% | -11.19% | 104.45% | 137.33% | -1.04% |
Correlation
The correlation between ION and BITO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2022 | 0.25 |
ION vs. BITO - Sectors Allocation Comparison
Sectors
ION
BITO
Basic Materials
-
Financial Services
Energy
-
Real Estate
-
Healthcare
-
Industrials
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Technology
-
-
Utilities
-
-
Basic Materials
ION
BITO
-
Financial Services
ION
BITO
Energy
ION
BITO
-
Real Estate
ION
BITO
-
Healthcare
ION
BITO
-
Industrials
ION
BITO
-
Communication Services
ION
-
BITO
-
Consumer Cyclical
ION
-
BITO
-
Consumer Defensive
ION
-
BITO
-
Technology
ION
-
BITO
-
Utilities
ION
-
BITO
-
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Return for Risk
ION vs. BITO — Risk / Return Rank
ION
BITO
ION vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares S&P Global Core Battery Metals ETF (ION) and ProShares Bitcoin Strategy ETF (BITO). 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.
| ION | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.22 | ||
| Sortino ratioReturn per unit of downside risk | +4.80 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.85 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 5.33 | -0.82 | +6.15 |
| Martin ratioReturn relative to average drawdown | 18.79 | -1.41 | +20.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ION | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.27 | -0.95 | +4.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | -0.09 | +0.48 |
Drawdowns
ION vs. BITO - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for ION and BITO.
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Drawdown Indicators
| ION | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -77.86% | +25.78% |
Max Drawdown (1Y)Largest decline over 1 year | -23.30% | -50.05% | +26.75% |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | -50.05% | +3.58% |
Current DrawdownCurrent decline from peak | -13.99% | -49.22% | +35.23% |
Average DrawdownAverage peak-to-trough decline | -23.70% | -36.73% | +13.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 29.09% | -22.50% |
Volatility
ION vs. BITO - Volatility Comparison
Proshares S&P Global Core Battery Metals ETF (ION) has a higher volatility of 12.06% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.43%. This indicates that ION's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ION | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.06% | 9.43% | +2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 29.90% | 34.26% | -4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.92% | 43.57% | -5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.08% | 55.11% | -24.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.08% | 55.11% | -24.03% |
ION vs. BITO - Expense Ratio Comparison
ION has a 0.58% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
ION vs. BITO - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.40%, less than BITO's 67.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 67.63% | 78.29% | 61.59% | 15.14% | 0.00% |
ION Proshares S&P Global Core Battery Metals ETF | 1.40% | 1.63% | 1.74% | 2.23% | 0.13% |
Frequently Asked Questions
ION and BITO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ION has higher volatility (12.06%) compared to BITO (9.43%). In terms of maximum drawdown, ION dropped -52.08% vs BITO's -77.86%.
On 3-year performance, BITO leads with 25.27% vs 18.91% for ION. On fees, ION is cheaper at 0.58% per year. On volatility, BITO has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 25.27% return vs 18.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ION is cheaper with a 0.58% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 67.63%, compared with 1.40% for ION.
ION is categorized as Energy Equities, while BITO is Cryptocurrency. Their fees differ too: 0.58% for ION and 0.95% for BITO.
ION currently has the higher Sharpe Ratio (3.27 vs -0.94), 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.
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