XSLE.DE vs. ION
XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) and ION (Proshares S&P Global Core Battery Metals ETF) are both exchange-traded funds - XSLE.DE is a Silver fund tracking the LBMA Silver Price (EUR Hedged), while ION is a Lithium & Battery Metals fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, XSLE.DE returned 31.27%/yr vs 11.41%/yr for ION. At a 0.39 correlation, their price movements are largely independent. XSLE.DE charges 0.73%/yr vs 0.58%/yr for ION.
Performance
XSLE.DE vs. ION - Performance Comparison
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Different Trading Currencies
XSLE.DE is traded in EUR, while ION is traded in USD. To make them comparable, the ION values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSLE.DE achieves a -26.25% return, which is significantly lower than ION's 1.75% return.
XSLE.DE
- 1D
- 0.00%
- 1M
- -24.10%
- YTD
- -26.25%
- 6M
- -26.25%
- 1Y
- 53.24%
- 3Y*
- 31.27%
- 5Y*
- 12.87%
- 10Y*
- —
ION
- 1D
- 2.06%
- 1M
- -13.48%
- YTD
- 1.75%
- 6M
- 1.58%
- 1Y
- 84.05%
- 3Y*
- 11.41%
- 5Y*
- —
- 10Y*
- —
XSLE.DE vs. ION - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -26.25% | 149.28% | 20.14% | -4.86% | 9.67% |
ION Proshares S&P Global Core Battery Metals ETF | 1.75% | 83.64% | -14.75% | -16.67% | -10.00% |
Correlation
The correlation between XSLE.DE and ION is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.39 |
The correlation between XSLE.DE and ION shifts across timeframes, from 0.39 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XSLE.DE vs. ION — Risk / Return Rank
XSLE.DE
ION
XSLE.DE vs. ION - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) 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.
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.
| XSLE.DE | ION | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 3.41 | -2.36 |
| Martin ratioReturn relative to average drawdown | 2.34 | 10.90 | -8.55 |
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Drawdowns
XSLE.DE vs. ION - Drawdown Comparison
The maximum XSLE.DE drawdown since its inception was -50.39%, roughly equal to the maximum ION drawdown of -52.34%. Use the drawdown chart below to compare losses from any high point for XSLE.DE and ION.
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Drawdown Indicators
| XSLE.DE | ION | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.39% | -52.34% | +1.95% |
Max Drawdown (1Y)Largest decline over 1 year | -50.39% | -24.79% | -25.60% |
Max Drawdown (3Y)Largest decline over 3 years | -50.39% | -45.14% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -50.39% | — | — |
Current DrawdownCurrent decline from peak | -50.39% | -23.24% | -27.15% |
Average DrawdownAverage peak-to-trough decline | -18.56% | -23.84% | +5.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.66% | 7.74% | +14.92% |
Volatility
XSLE.DE vs. ION - Volatility Comparison
Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) has a higher volatility of 15.37% compared to Proshares S&P Global Core Battery Metals ETF (ION) at 13.10%. This indicates that XSLE.DE'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
| XSLE.DE | ION | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.37% | 13.10% | +2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 55.02% | 30.45% | +24.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.27% | 38.25% | +20.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.72% | 30.06% | +5.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.55% | 30.06% | +5.49% |
XSLE.DE vs. ION - Expense Ratio Comparison
XSLE.DE has a 0.73% expense ratio, which is higher than ION's 0.58% expense ratio.
Dividends
XSLE.DE vs. ION - Dividend Comparison
XSLE.DE has not paid dividends to shareholders, while ION's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.50% | 1.63% | 1.74% | 2.23% | 0.13% |
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XSLE.DE and ION have a correlation of 0.49, 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 0.73% for XSLE.DE.
XSLE.DE is categorized as Silver, while ION is Lithium & Battery Metals. XSLE.DE tracks LBMA Silver Price (EUR Hedged), while ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net. They also come from different issuers: Xtrackers and ProShares. Their fees differ too: 0.73% for XSLE.DE and 0.58% for ION.
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