ION vs. HL
ION (Proshares S&P Global Core Battery Metals ETF) is Lithium & Battery Metals fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net, while HL (Hecla Mining Company) is a stock. Over the past 3 years, ION returned 13.08%/yr vs 44.78%/yr for HL. At a 0.47 correlation, their price movements are largely independent.
Performance
ION vs. HL - Performance Comparison
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Returns By Period
In the year-to-date period, ION achieves a -1.19% return, which is significantly higher than HL's -19.56% return.
ION
- 1D
- 1.88%
- 1M
- -15.33%
- YTD
- -1.19%
- 6M
- -1.36%
- 1Y
- 78.17%
- 3Y*
- 13.08%
- 5Y*
- —
- 10Y*
- —
HL
- 1D
- 0.19%
- 1M
- -13.17%
- YTD
- -19.56%
- 6M
- -20.80%
- 1Y
- 157.90%
- 3Y*
- 44.78%
- 5Y*
- 16.35%
- 10Y*
- 11.45%
ION vs. HL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | -1.19% | 108.37% | -20.02% | -14.10% | -8.45% |
HL Hecla Mining Company | -19.56% | 291.70% | 2.82% | -12.93% | 2.02% |
Correlation
The correlation between ION and HL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.47 |
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Return for Risk
ION vs. HL — Risk / Return Rank
ION
HL
ION vs. HL - 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 Hecla Mining Company (HL). 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.
| ION | HL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.85 | +0.08 |
| Martin ratioReturn relative to average drawdown | 9.15 | 5.91 | +3.25 |
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Drawdowns
ION vs. HL - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for ION and HL.
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Drawdown Indicators
| ION | HL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -97.92% | +45.84% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -55.81% | +28.96% |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | -55.81% | +9.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.45% | — |
Current DrawdownCurrent decline from peak | -25.47% | -51.47% | +26.00% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -69.91% | +46.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.57% | 26.84% | -18.27% |
Volatility
ION vs. HL - Volatility Comparison
The current volatility for Proshares S&P Global Core Battery Metals ETF (ION) is 13.79%, while Hecla Mining Company (HL) has a volatility of 21.36%. This indicates that ION experiences smaller price fluctuations and is considered to be less risky than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ION | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.79% | 21.36% | -7.57% |
Volatility (6M)Calculated over the trailing 6-month period | 32.01% | 54.58% | -22.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 73.45% | -33.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.57% | 59.39% | -27.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.57% | 62.83% | -31.26% |
Dividends
ION vs. HL - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.50%, more than HL's 0.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HL Hecla Mining Company | 0.10% | 0.08% | 0.81% | 0.65% | 0.40% | 0.72% | 0.25% | 0.29% | 0.42% | 0.25% | 0.19% | 0.53% |
ION Proshares S&P Global Core Battery Metals ETF | 1.50% | 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
ION and HL have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HL has higher volatility (21.36%) compared to ION (13.79%). In terms of maximum drawdown, ION dropped -52.08% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (2.16 vs 1.99), 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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