UFO vs. ION

Last updated Jun 4, 2026

UFO (Procure Space ETF) and ION (Proshares S&P Global Core Battery Metals ETF) are both exchange-traded funds - UFO is a Global Equities fund tracking the S-Network Space Index, while ION is a Energy Equities fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, UFO returned 46.01%/yr vs 18.91%/yr for ION. At a 0.42 correlation, their price movements are largely independent. UFO charges 0.75%/yr vs 0.58%/yr for ION.

Performance

UFO vs. ION - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Procure Space ETF (UFO) and Proshares S&P Global Core Battery Metals ETF (ION). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UFO achieves a 49.39% return, which is significantly higher than ION's 14.02% return.

UFO

• 1D: -5.68%
• 1M: 12.53%
• YTD: 49.39%
• 6M: 71.06%
• 1Y: 135.88%
• 3Y*: 46.01%
• 5Y*: 15.60%
• 10Y*: —

ION

• 1D: -3.20%
• 1M: -9.27%
• YTD: 14.02%
• 6M: 27.44%
• 1Y: 123.41%
• 3Y*: 18.91%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UFO vs. ION - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UFO Procure Space ETF	49.39%	67.36%	27.22%	-2.34%	-4.28%
ION Proshares S&P Global Core Battery Metals ETF	14.02%	108.37%	-20.02%	-14.10%	-8.86%

Correlation

The correlation between UFO and ION is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 2, 2022	0.42

UFO vs. ION - Sectors Allocation Comparison

Sectors	UFO	ION
Industrials	47.2%	1.6%
Communication Services	30.8%	-
Technology	22.0%	-
Basic Materials	-	14.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	2.4%
Financial Services	-	13.0%
Healthcare	-	1.7%
Real Estate	-	2.4%
Utilities	-	-

Return for Risk

UFO vs. ION — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UFO

UFO Risk / Return Rank: 88
UFO Sharpe Ratio Rank: 93
UFO Sortino Ratio Rank: 86
UFO Omega Ratio Rank: 78
UFO Calmar Ratio Rank: 92
UFO Martin Ratio Rank: 89

ION

ION Risk / Return Rank: 84
ION Sharpe Ratio Rank: 91
ION Sortino Ratio Rank: 76
ION Omega Ratio Rank: 75
ION Calmar Ratio Rank: 89
ION Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UFO vs. ION - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Procure Space ETF (UFO) 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.

	UFO	ION	Difference
Sharpe ratio: Return per unit of total volatility	3.59	3.27	+0.32
Sortino ratio: Return per unit of downside risk	3.95	3.45	+0.50
Omega ratio: Gain probability vs. loss probability	1.48	1.45	+0.02
Calmar ratio: Return relative to maximum drawdown	6.23	5.33	+0.90
Martin ratio: Return relative to average drawdown	20.29	18.79	+1.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UFO vs. ION - Sharpe Ratio Comparison

The current UFO Sharpe Ratio is 3.59, which is comparable to the ION Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of UFO and ION, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UFO	ION	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.59	3.27	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.39	+0.07

Drawdowns

UFO vs. ION - Drawdown Comparison

The maximum UFO drawdown since its inception was -50.33%, roughly equal to the maximum ION drawdown of -52.08%. Use the drawdown chart below to compare losses from any high point for UFO and ION.

Drawdown Indicators

	UFO	ION	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-52.08%	+1.75%
Max Drawdown (1Y) Largest decline over 1 year	-21.95%	-23.30%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-25.91%	-46.47%	+20.56%
Max Drawdown (5Y) Largest decline over 5 years	-50.33%	—	—
Current Drawdown Current decline from peak	-14.84%	-13.99%	-0.85%
Average Drawdown Average peak-to-trough decline	-21.82%	-23.70%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	6.59%	+0.13%

Volatility

UFO vs. ION - Volatility Comparison

Procure Space ETF (UFO) has a higher volatility of 16.64% compared to Proshares S&P Global Core Battery Metals ETF (ION) at 12.06%. This indicates that UFO'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.

Volatility by Period

	UFO	ION	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	12.06%	+4.58%
Volatility (6M) Calculated over the trailing 6-month period	31.27%	29.90%	+1.37%
Volatility (1Y) Calculated over the trailing 1-year period	38.08%	37.92%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.92%	31.08%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.76%	31.08%	-0.32%

UFO vs. ION - Expense Ratio Comparison

UFO has a 0.75% expense ratio, which is higher than ION's 0.58% expense ratio.

Dividends

UFO vs. ION - Dividend Comparison

UFO's dividend yield for the trailing twelve months is around 0.29%, less than ION's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ION Proshares S&P Global Core Battery Metals ETF	1.40%	1.63%	1.74%	2.23%	0.13%	0.00%	0.00%	0.00%
UFO Procure Space ETF	0.29%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both UFO and ION in my portfolio?

UFO and ION have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UFO or ION?

UFO has higher volatility (16.64%) compared to ION (12.06%). In terms of maximum drawdown, UFO dropped -50.33% vs ION's -52.08%.

Which ETF is better, UFO or ION?

On 3-year performance, UFO leads with 46.01% vs 18.91% for ION. On fees, ION is cheaper at 0.58% per year. On volatility, ION has been the lower-risk option at 12.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFO or ION?

Over the 3-year period, UFO has performed better with a 46.01% return vs 18.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFO or ION?

ION is cheaper with a 0.58% expense ratio, compared with 0.75% for UFO.

Which ETF pays a higher dividend yield, UFO or ION?

ION has the higher dividend yield at 1.40%, compared with 0.29% for UFO.

What is the main difference between UFO and ION?

UFO is categorized as Global Equities, while ION is Energy Equities. UFO tracks S-Network Space Index, while ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net. They also come from different issuers: ProcureAM and ProShares. Their fees differ too: 0.75% for UFO and 0.58% for ION.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (3.59 vs 3.27), 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.