ION vs. UPRO
Compare and contrast key facts about Proshares S&P Global Core Battery Metals ETF (ION) and ProShares UltraPro S&P 500 (UPRO).
ION and UPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ION is a passively managed fund by ProShares that tracks the performance of the S&P Global Core Battery Metals Index - Benchmark TR Net. It was launched on Nov 29, 2022. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both ION and UPRO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ION vs. UPRO - Performance Comparison
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ION vs. UPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 9.49% | 108.37% | -20.02% | -14.10% | -8.86% |
UPRO ProShares UltraPro S&P 500 | -16.03% | 31.88% | 63.57% | 68.53% | -17.60% |
Returns By Period
In the year-to-date period, ION achieves a 9.49% return, which is significantly higher than UPRO's -16.03% return.
ION
- 1D
- 2.98%
- 1M
- -12.58%
- YTD
- 9.49%
- 6M
- 46.23%
- 1Y
- 124.76%
- 3Y*
- 16.44%
- 5Y*
- —
- 10Y*
- —
UPRO
- 1D
- 8.61%
- 1M
- -15.71%
- YTD
- -16.03%
- 6M
- -12.57%
- 1Y
- 32.51%
- 3Y*
- 37.29%
- 5Y*
- 16.63%
- 10Y*
- 25.25%
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ION vs. UPRO - Expense Ratio Comparison
ION has a 0.58% expense ratio, which is lower than UPRO's 0.92% expense ratio.
Return for Risk
ION vs. UPRO — Risk / Return Rank
ION
UPRO
ION vs. UPRO - 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 ProShares UltraPro S&P 500 (UPRO). 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 | UPRO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.21 | 0.60 | +2.61 |
Sortino ratioReturn per unit of downside risk | 3.47 | 1.18 | +2.29 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.18 | +0.29 |
Calmar ratioReturn relative to maximum drawdown | 5.26 | 1.04 | +4.22 |
Martin ratioReturn relative to average drawdown | 20.19 | 4.18 | +16.01 |
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 | UPRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.21 | 0.60 | +2.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.33 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.59 | -0.22 |
Correlation
The correlation between ION and UPRO is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ION vs. UPRO - Dividend Comparison
ION's dividend yield for the trailing twelve months is around 1.46%, more than UPRO's 1.04% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.46% | 1.63% | 1.74% | 2.23% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 1.04% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Drawdowns
ION vs. UPRO - Drawdown Comparison
The maximum ION drawdown since its inception was -52.08%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for ION and UPRO.
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Drawdown Indicators
| ION | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.08% | -76.82% | +24.74% |
Max Drawdown (1Y)Largest decline over 1 year | -23.30% | -33.38% | +10.08% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.82% | — |
Current DrawdownCurrent decline from peak | -13.04% | -20.48% | +7.44% |
Average DrawdownAverage peak-to-trough decline | -24.61% | -14.53% | -10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.07% | 8.33% | -2.26% |
Volatility
ION vs. UPRO - Volatility Comparison
Proshares S&P Global Core Battery Metals ETF (ION) and ProShares UltraPro S&P 500 (UPRO) have volatilities of 15.13% and 15.89%, 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 | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.13% | 15.89% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 30.44% | 28.41% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.07% | 54.34% | -15.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.74% | 50.34% | -19.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.74% | 53.70% | -22.96% |