ION vs. TNGY
ION (Proshares S&P Global Core Battery Metals ETF) and TNGY (Tortoise Energy Fund) are both Energy Equities funds. ION is passively managed, while TNGY is actively managed. At a 0.01 correlation, their price movements are largely independent. ION charges 0.58%/yr vs 0.85%/yr for TNGY.
Performance
ION vs. TNGY - Performance Comparison
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Returns By Period
In the year-to-date period, ION achieves a 14.02% return, which is significantly lower than TNGY's 15.21% return.
ION
- 1D
- -3.20%
- 1M
- -9.27%
- YTD
- 14.02%
- 6M
- 27.44%
- 1Y
- 123.41%
- 3Y*
- 18.91%
- 5Y*
- —
- 10Y*
- —
TNGY
- 1D
- 0.39%
- 1M
- -3.15%
- YTD
- 15.21%
- 6M
- 12.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ION vs. TNGY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 14.02% | 85.69% |
TNGY Tortoise Energy Fund | 15.21% | 1.81% |
Correlation
The correlation between ION and TNGY is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.01 |
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Return for Risk
ION vs. TNGY — Risk / Return Rank
ION
TNGY
ION vs. TNGY - 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 Tortoise Energy Fund (TNGY). 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 | TNGY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.33 | — | — |
| Martin ratioReturn relative to average drawdown | 18.79 | — | — |
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 | TNGY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 1.15 | -0.76 |
Drawdowns
ION vs. TNGY - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, which is greater than TNGY's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for ION and TNGY.
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Drawdown Indicators
| ION | TNGY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -8.86% | -43.22% |
Max Drawdown (1Y)Largest decline over 1 year | -23.30% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | — | — |
Current DrawdownCurrent decline from peak | -13.99% | -3.92% | -10.07% |
Average DrawdownAverage peak-to-trough decline | -23.70% | -2.18% | -21.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | — | — |
Volatility
ION vs. TNGY - Volatility Comparison
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Volatility by Period
| ION | TNGY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.06% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 29.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 37.92% | 15.70% | +22.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.08% | 15.70% | +15.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.08% | 15.70% | +15.38% |
ION vs. TNGY - Expense Ratio Comparison
ION has a 0.58% expense ratio, which is lower than TNGY's 0.85% expense ratio.
Dividends
ION vs. TNGY - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.40%, less than TNGY's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.40% | 1.63% | 1.74% | 2.23% | 0.13% |
TNGY Tortoise Energy Fund | 3.41% | 2.59% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ION and TNGY have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ION is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ION is cheaper with a 0.58% expense ratio, compared with 0.85% for TNGY.
TNGY has the higher dividend yield at 3.41%, compared with 1.40% for ION.
They also come from different issuers: ProShares and Tortoise Capital. Their fees differ too: 0.58% for ION and 0.85% for TNGY.
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