PL vs. ION
PL (Planet Labs PBC) is a stock, while ION (Proshares S&P Global Core Battery Metals ETF) is Energy Equities fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net. Over the past 3 years, PL returned 110.30%/yr vs 18.23%/yr for ION. At a 0.35 correlation, their price movements are largely independent.
Performance
PL vs. ION - Performance Comparison
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Returns By Period
In the year-to-date period, PL achieves a 120.74% return, which is significantly higher than ION's 11.94% return.
PL
- 1D
- 0.93%
- 1M
- 17.24%
- YTD
- 120.74%
- 6M
- 236.40%
- 1Y
- 990.98%
- 3Y*
- 110.30%
- 5Y*
- 34.47%
- 10Y*
- —
ION
- 1D
- -1.83%
- 1M
- -11.66%
- YTD
- 11.94%
- 6M
- 26.66%
- 1Y
- 112.51%
- 3Y*
- 18.23%
- 5Y*
- —
- 10Y*
- —
PL vs. ION - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PL Planet Labs PBC | 120.74% | 388.12% | 63.56% | -43.22% | -23.95% |
ION Proshares S&P Global Core Battery Metals ETF | 11.94% | 108.37% | -20.02% | -14.10% | -8.86% |
Correlation
The correlation between PL and ION 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 | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2022 | 0.35 |
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Return for Risk
PL vs. ION — Risk / Return Rank
PL
ION
PL vs. ION - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Planet Labs PBC (PL) and Proshares S&P Global Core Battery Metals ETF (ION). 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.
| PL | ION | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.08 | ||
| Omega ratioGain probability vs. loss probability | 1.78 | 1.42 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 34.52 | 4.86 | +29.66 |
| Martin ratioReturn relative to average drawdown | 85.57 | 16.95 | +68.62 |
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
| PL | ION | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.16 | 2.99 | +6.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.37 | +0.06 |
Drawdowns
PL vs. ION - Drawdown Comparison
The maximum PL drawdown since its inception was -85.73%, which is greater than ION's maximum drawdown of -52.08%. Use the drawdown chart below to compare losses from any high point for PL and ION.
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Drawdown Indicators
| PL | ION | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.73% | -52.08% | -33.65% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -23.30% | -5.71% |
Max Drawdown (3Y)Largest decline over 3 years | -65.51% | -46.47% | -19.04% |
Max Drawdown (5Y)Largest decline over 5 years | -85.73% | — | — |
Current DrawdownCurrent decline from peak | -15.31% | -15.56% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -49.99% | -23.69% | -26.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.68% | 6.66% | +5.02% |
Volatility
PL vs. ION - Volatility Comparison
Planet Labs PBC (PL) has a higher volatility of 27.51% compared to Proshares S&P Global Core Battery Metals ETF (ION) at 12.06%. This indicates that PL's price experiences larger fluctuations and is considered to be riskier than ION based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PL | ION | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.51% | 12.06% | +15.45% |
Volatility (6M)Calculated over the trailing 6-month period | 71.02% | 29.94% | +41.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 109.37% | 37.98% | +71.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.87% | 31.08% | +48.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.00% | 31.08% | +47.92% |
Dividends
PL vs. ION - Dividend Comparison
PL has not paid dividends to shareholders, while ION's dividend yield for the trailing twelve months is around 1.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.42% | 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
PL and ION 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.
PL has higher volatility (27.51%) compared to ION (12.06%). In terms of maximum drawdown, PL dropped -85.73% vs ION's -52.08%.
PL currently has the higher Sharpe Ratio (9.16 vs 2.99), 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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