ION vs. MNS.TO
ION (Proshares S&P Global Core Battery Metals ETF) and MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) are both exchange-traded funds - ION is a Lithium & Battery Metals fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net, while MNS.TO is a Silver fund tracking the N/A (Physical Bullion). Both are passively managed. Over the past 3 years, ION returned 13.08%/yr vs 39.00%/yr for MNS.TO. At a 0.38 correlation, their price movements are largely independent. ION charges 0.58%/yr vs 0.45%/yr for MNS.TO.
Performance
ION vs. MNS.TO - Performance Comparison
Loading charts...
Different Trading Currencies
ION is traded in USD, while MNS.TO is traded in CAD. To make them comparable, the MNS.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ION achieves a -1.19% return, which is significantly higher than MNS.TO's -25.76% return.
ION
- 1D
- 1.88%
- 1M
- -15.33%
- YTD
- -1.19%
- 6M
- -1.36%
- 1Y
- 78.17%
- 3Y*
- 13.08%
- 5Y*
- —
- 10Y*
- —
MNS.TO
- 1D
- 2.77%
- 1M
- -20.90%
- YTD
- -25.76%
- 6M
- -29.21%
- 1Y
- 59.09%
- 3Y*
- 39.00%
- 5Y*
- 16.91%
- 10Y*
- —
ION vs. MNS.TO - 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% |
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | -25.76% | 173.61% | 30.67% | -3.55% | 6.08% |
Correlation
The correlation between ION and MNS.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.38 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ION vs. MNS.TO — Risk / Return Rank
ION
MNS.TO
ION vs. MNS.TO - 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 Royal Canadian Mint - Canadian Silver Reserves (MNS.TO). 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 | MNS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 1.20 | +1.73 |
| Martin ratioReturn relative to average drawdown | 9.15 | 2.80 | +6.35 |
Loading charts...
Drawdowns
ION vs. MNS.TO - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, roughly equal to the maximum MNS.TO drawdown of -49.67%. Use the drawdown chart below to compare losses from any high point for ION and MNS.TO.
Loading charts...
Drawdown Indicators
| ION | MNS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -49.67% | -2.41% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -49.67% | +22.82% |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | -49.67% | +3.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -49.67% | — |
Current DrawdownCurrent decline from peak | -25.47% | -45.50% | +20.03% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -17.27% | -6.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.57% | 21.13% | -12.56% |
Volatility
ION vs. MNS.TO - Volatility Comparison
The current volatility for Proshares S&P Global Core Battery Metals ETF (ION) is 13.79%, while Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) has a volatility of 14.87%. This indicates that ION experiences smaller price fluctuations and is considered to be less risky than MNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ION | MNS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.79% | 14.87% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 32.01% | 52.95% | -20.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 56.45% | -16.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.57% | 35.25% | -3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.57% | 31.97% | -0.40% |
ION vs. MNS.TO - Expense Ratio Comparison
ION has a 0.58% expense ratio, which is higher than MNS.TO's 0.45% expense ratio.
Dividends
ION vs. MNS.TO - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.50%, while MNS.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.50% | 1.63% | 1.74% | 2.23% | 0.13% |
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ION and MNS.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MNS.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MNS.TO is cheaper with a 0.45% expense ratio, compared with 0.58% for ION.
ION is categorized as Lithium & Battery Metals, while MNS.TO is Silver. ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net, while MNS.TO tracks N/A (Physical Bullion). They also come from different issuers: ProShares and Royal Canadian Mint. Their fees differ too: 0.58% for ION and 0.45% for MNS.TO.
Find the right allocation for ION and MNS.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer