ION vs. TSLA
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 TSLA (Tesla, Inc.) is a stock. Over the past 3 years, ION returned 17.02%/yr vs 16.44%/yr for TSLA. At a 0.31 correlation, their price movements are largely independent.
Performance
ION vs. TSLA - Performance Comparison
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Returns By Period
In the year-to-date period, ION achieves a 8.52% return, which is significantly higher than TSLA's -9.93% return.
ION
- 1D
- -0.40%
- 1M
- -6.82%
- YTD
- 8.52%
- 6M
- 8.91%
- 1Y
- 111.43%
- 3Y*
- 17.02%
- 5Y*
- —
- 10Y*
- —
TSLA
- 1D
- 1.14%
- 1M
- -4.92%
- YTD
- -9.93%
- 6M
- -17.12%
- 1Y
- 25.73%
- 3Y*
- 16.44%
- 5Y*
- 13.10%
- 10Y*
- 41.18%
ION vs. TSLA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 8.52% | 108.37% | -20.02% | -14.10% | -8.45% |
TSLA Tesla, Inc. | -9.93% | 11.36% | 62.52% | 101.72% | -36.73% |
Correlation
The correlation between ION and TSLA is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.31 |
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Return for Risk
ION vs. TSLA — Risk / Return Rank
ION
TSLA
ION vs. TSLA - 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 Tesla, Inc. (TSLA). 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 | TSLA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.27 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.12 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.81 | 0.86 | +3.95 |
| Martin ratioReturn relative to average drawdown | 14.58 | 1.94 | +12.64 |
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Drawdowns
ION vs. TSLA - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, smaller than the maximum TSLA drawdown of -73.63%. Use the drawdown chart below to compare losses from any high point for ION and TSLA.
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Drawdown Indicators
| ION | TSLA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -73.63% | +21.55% |
Max Drawdown (1Y)Largest decline over 1 year | -23.30% | -29.93% | +6.63% |
Max Drawdown (3Y)Largest decline over 3 years | -46.47% | -53.77% | +7.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -73.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.63% | — |
Current DrawdownCurrent decline from peak | -18.15% | -17.32% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -22.71% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.67% | 13.29% | -5.62% |
Volatility
ION vs. TSLA - Volatility Comparison
Proshares S&P Global Core Battery Metals ETF (ION) and Tesla, Inc. (TSLA) have volatilities of 13.14% and 13.06%, 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.
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Volatility by Period
| ION | TSLA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.14% | 13.06% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 31.78% | 27.98% | +3.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.41% | 44.37% | -4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.50% | 59.01% | -27.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.50% | 59.08% | -27.58% |
Dividends
ION vs. TSLA - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.47%, while TSLA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.47% | 1.63% | 1.74% | 2.23% | 0.13% |
TSLA Tesla, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ION and TSLA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ION has higher volatility (13.14%) compared to TSLA (13.06%). In terms of maximum drawdown, ION dropped -52.08% vs TSLA's -73.63%.
ION currently has the higher Sharpe Ratio (2.85 vs 0.58), 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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