ION vs. NUKZ

Last updated Aug 2, 2026

ION (Proshares S&P Global Core Battery Metals ETF) and NUKZ (Range Nuclear Renaissance ETF) 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 NUKZ is a Energy Equities fund tracking the Range Nuclear Renaissance Index. Both are passively managed. Over the past year, ION returned 56.19% vs 9.75% for NUKZ. Their 0.46 correlation means their historical movements had little consistent relationship. ION charges 0.58%/yr vs 0.85%/yr for NUKZ.

Performance

ION vs. NUKZ - Performance Comparison

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

Returns By Period

In the year-to-date period, ION achieves a -7.96% return, which is significantly lower than NUKZ's 0.28% return.

ION

• 1D: -0.29%
• 1M: -7.01%
• 6M: -17.55%
• YTD: -7.96%
• 1Y: 56.19%
• 3Y*: 9.85%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.25%

NUKZ

• 1D: -0.20%
• 1M: -4.27%
• 6M: -8.28%
• YTD: 0.28%
• 1Y: 9.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ION Proshares S&P Global Core Battery Metals ETF	$76.11K	$91.53K	$254.87K
NUKZ Range Nuclear Renaissance ETF	$6.06M	$6.01M	$8.30M

ION vs. NUKZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ION Proshares S&P Global Core Battery Metals ETF	-7.96%	108.37%	-8.77%
NUKZ Range Nuclear Renaissance ETF	0.28%	56.57%	60.11%

Correlation

The correlation between ION and NUKZ is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024	0.46

The correlation between ION and NUKZ has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

ION vs. NUKZ - Sectors Allocation Comparison

Sectors	ION	NUKZ
Financial Services	13.1%	-
Basic Materials	12.8%	4.7%
Healthcare	5.6%	-
Consumer Cyclical	3.6%	-
Real Estate	2.7%	-
Energy	2.6%	11.2%
Industrials	1.9%	47.1%
Communication Services	-	-
Consumer Defensive	-	-
Technology	-	1.4%
Utilities	-	35.6%

Return for Risk

ION vs. NUKZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ION

ION Risk / Return Rank: 53
ION Sharpe Ratio Rank: 63
ION Sortino Ratio Rank: 56
ION Omega Ratio Rank: 54
ION Calmar Ratio Rank: 47
ION Martin Ratio Rank: 43

NUKZ

NUKZ Risk / Return Rank: 16
NUKZ Sharpe Ratio Rank: 16
NUKZ Sortino Ratio Rank: 17
NUKZ Omega Ratio Rank: 16
NUKZ Calmar Ratio Rank: 17
NUKZ Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ION vs. NUKZ - 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 Range Nuclear Renaissance ETF (NUKZ). 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	NUKZ	Difference
Sharpe ratio: Return per unit of total volatility	1.45	0.22	+1.24
Sortino ratio: Return per unit of downside risk	1.94	0.53	+1.40
Omega ratio: Gain probability vs. loss probability	1.24	1.06	+0.18
Calmar ratio: Return relative to maximum drawdown	1.70	0.33	+1.37
Martin ratio: Return relative to average drawdown	4.67	0.80	+3.87

ION vs. NUKZ - Sharpe Ratio Comparison

The current ION Sharpe Ratio is 1.45, which is higher than the NUKZ Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of ION and NUKZ, 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

ION vs. NUKZ - Drawdown Comparison

The maximum ION drawdown since its inception was -52.08%, which is greater than NUKZ's maximum drawdown of -33.03%. Use the drawdown chart below to compare losses from any high point for ION and NUKZ.

Drawdown Indicators

	ION	NUKZ	Difference
Max Drawdown Largest peak-to-trough decline	-52.08%	-33.03%	-19.05%
Max Drawdown (1Y) Largest decline over 1 year	-33.66%	-20.29%	-13.37%
Max Drawdown (3Y) Largest decline over 3 years	-42.44%	—	—
Current Drawdown Current decline from peak	-30.57%	-16.46%	-14.11%
Average Drawdown Average peak-to-trough decline	-23.76%	-6.44%	-17.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.26%	8.42%	+3.84%

Volatility

ION vs. NUKZ - Volatility Comparison

Proshares S&P Global Core Battery Metals ETF (ION) and Range Nuclear Renaissance ETF (NUKZ) have volatilities of 9.49% and 9.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ION	NUKZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.49%	9.21%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	30.92%	23.79%	+7.13%
Volatility (1Y) Calculated over the trailing 1-year period	39.63%	31.03%	+8.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.58%	32.74%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.58%	32.74%	-1.16%

ION vs. NUKZ - Expense Ratio Comparison

ION has a 0.58% expense ratio, which is lower than NUKZ's 0.85% expense ratio.

Dividends

ION vs. NUKZ - Dividend Comparison

ION's dividend yield for the trailing twelve months is around 1.61%, more than NUKZ's 0.91% yield.

Position	TTM	2025	2024	2023	2022
ION Proshares S&P Global Core Battery Metals ETF	1.61%	1.63%	1.74%	2.23%	0.13%
NUKZ Range Nuclear Renaissance ETF	0.91%	0.91%	0.09%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ION and NUKZ in my portfolio?

ION and NUKZ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ION or NUKZ?

ION has higher volatility (9.49%) compared to NUKZ (9.21%). In terms of maximum drawdown, ION dropped -52.08% vs NUKZ's -33.03%.

Which ETF is better, ION or NUKZ?

On 1-year performance, ION leads with 56.19% vs 9.75% for NUKZ. On fees, ION is cheaper at 0.58% per year. On volatility, NUKZ has been the lower-risk option at 9.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ION or NUKZ?

Over the 1-year period, ION has performed better with a 56.19% return vs 9.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ION or NUKZ?

ION is cheaper with a 0.58% expense ratio, compared with 0.85% for NUKZ.

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

ION has the higher dividend yield at 1.61%, compared with 0.91% for NUKZ.

What is the main difference between ION and NUKZ?

ION is categorized as Lithium & Battery Metals, while NUKZ is Energy Equities. ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net, while NUKZ tracks Range Nuclear Renaissance Index. They also come from different issuers: ProShares and Exchange Traded Concepts. Their fees differ too: 0.58% for ION and 0.85% for NUKZ.

Which has better risk-adjusted returns?

ION currently has the higher Sharpe Ratio (1.45 vs 0.22), 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.