ION vs SPY
Proshares S&P Global Core Battery Metals ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ION delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ION | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.09% | |
| AUM | $13M | $821.1B | |
| Dividend Yield | 1.61% | 1.01% | |
| Holdings | 53 | 505 | |
| YTD Return | -2.24% | +13.17% | |
| 1Y Return | +54.57% | +21.53% | |
| 3Y Return (annualized) | +17.28% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 31.1% | 15.3% | |
| Max Drawdown | -52.2% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 29, 2022 | Jan 22, 1993 |
ION vs SPY Performance
Proshares S&P Global Core Battery Metals ETF (ION) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ION returned +54.57% while SPY returned +21.53%. Year to date, ION is down 2.24% versus a gain of 13.17% for SPY.
Over three years, ION compounded at +17.28% per year against +22.06% for SPY. Across the full 4-year window we track, SPY has the edge at +8.82% annualized vs +7.43%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ION has been the more volatile fund, with annualized monthly volatility of 31.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -52.2% for ION and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ION charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, ION currently yields 1.61% against 1.01% for SPY.
Holdings Overlap
ION and SPY share 1 holdings out of 555 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ION | Weight in SPY | Difference |
|---|---|---|---|
| ALB | 2.83% | 0.02% | 2.81% |
Frequently Asked Questions
Which is cheaper, ION or SPY?
ION has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $49 per year of difference.
Which performed better, ION or SPY?
Over the past year ION returned +54.57% vs +21.53% for SPY, so ION leads on 1-year performance. Over the longest common window we track (4 years), ION annualized +7.43% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, ION or SPY?
ION has been the more volatile fund at 31.1% annualized versus 15.3% for SPY. Worst drawdown: ION -52.2% vs SPY -56.5%.
Should I hold both ION and SPY?
ION and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ION and SPY?
ION and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, ION or SPY?
ION yields 1.61% while SPY yields 1.01%, so ION currently pays the higher dividend yield.
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