ION vs. PL
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 PL (Planet Labs PBC) is a stock. Over the past 3 years, ION returned 13.08%/yr vs 117.50%/yr for PL. At a 0.34 correlation, their price movements are largely independent.
Performance
ION vs. PL - Performance Comparison
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Returns By Period
In the year-to-date period, ION achieves a -1.19% return, which is significantly lower than PL's 68.00% return.
ION
- 1D
- 1.88%
- 1M
- -15.33%
- YTD
- -1.19%
- 6M
- -1.36%
- 1Y
- 78.17%
- 3Y*
- 13.08%
- 5Y*
- —
- 10Y*
- —
PL
- 1D
- 5.91%
- 1M
- -35.22%
- YTD
- 68.00%
- 6M
- 67.83%
- 1Y
- 443.11%
- 3Y*
- 117.50%
- 5Y*
- —
- 10Y*
- —
ION vs. PL - 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% |
PL Planet Labs PBC | 68.00% | 388.12% | 63.56% | -43.22% | -19.59% |
Correlation
The correlation between ION and PL is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.34 |
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Return for Risk
ION vs. PL — Risk / Return Rank
ION
PL
ION vs. PL - 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 Planet Labs PBC (PL). 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 | PL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.53 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 9.15 | -6.22 |
| Martin ratioReturn relative to average drawdown | 9.15 | 28.19 | -19.04 |
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Drawdowns
ION vs. PL - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, smaller than the maximum PL drawdown of -85.11%. Use the drawdown chart below to compare losses from any high point for ION and PL.
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Drawdown Indicators
| ION | PL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -85.11% | +33.03% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -48.83% | +21.98% |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | -55.17% | +8.70% |
Current DrawdownCurrent decline from peak | -25.47% | -35.54% | +10.07% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -55.27% | +31.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.57% | 15.82% | -7.25% |
Volatility
ION vs. PL - Volatility Comparison
The current volatility for Proshares S&P Global Core Battery Metals ETF (ION) is 13.79%, while Planet Labs PBC (PL) has a volatility of 41.66%. This indicates that ION experiences smaller price fluctuations and is considered to be less risky than PL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ION | PL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.79% | 41.66% | -27.87% |
Volatility (6M)Calculated over the trailing 6-month period | 32.01% | 73.65% | -41.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 103.54% | -63.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.57% | 85.01% | -53.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.57% | 85.01% | -53.44% |
Dividends
ION vs. PL - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.50%, while PL 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% |
PL Planet Labs PBC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ION and PL have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PL has higher volatility (41.66%) compared to ION (13.79%). In terms of maximum drawdown, ION dropped -52.08% vs PL's -85.11%.
PL currently has the higher Sharpe Ratio (4.32 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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