ION vs SPY
Proshares S&P Global Core Battery Metals ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ION or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. ION led over 1Y, SPY over 3Y and the full window. ION is less concentrated, with 31.8% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ION | SPY |
|---|---|---|
| Expense Ratio | 0.58% | 0.09%Best |
| AUM | $14M | $814.4B |
| Dividend Yield | 1.61% | 1.01% |
| Holdings | 53 | 505 |
| YTD Return | -0.68% | +12.71%Best |
| 1Y Return | +44.27%Best | +19.36% |
| 3Y Return (annualized) | +17.39% | +21.09%Best |
| 5Y Return (annualized) | - | +12.69% |
| Volatility (annualized) | 31.1% | 12.5%Best |
| Max Drawdown | -52.2% | -18.8%Best |
| $10,000 over 3.8 years | $13,289 | $19,861Best |
| Top 10 Weight | 31.8%Best | 38.0% |
| Fund Family | ProShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 29, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.8 years row, are measured over the window both funds cover: Dec 1, 2022 to Sep 8, 2026 (3.8 years).
ION vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.8 years both funds cover.
ION vs SPY Performance
Proshares S&P Global Core Battery Metals ETF (ION) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ION returned +44.27% while SPY returned +19.36%. Year to date, ION is down 0.68% versus a gain of 12.71% for SPY.
Over three years, ION compounded at +17.39% per year against +21.09% for SPY. Across the full 4-year window we track, SPY has the edge at +19.79% annualized vs +7.77%.
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 12.5% 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 -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.44. They move together some of the time, and apart the rest.
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
2.5% of ION's money is in holdings SPY also owns.
ION and SPY share little of their money.
1 positions in common, counted across the 53 positions we hold weights for in ION and 503 in SPY, against full books of 53 and 505.
What only one of them owns
Our book lists 492 positions for SPY that do not appear in our book for ION (99.4% of the fund), and 0 for ION that do not appear in SPY (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ION | Weight in SPY | Difference |
|---|---|---|---|
| ALBAlbemarle Corp. | 2.55% | 0.02% | 2.53% |
You are not choosing between two funds in isolation.
Whichever of ION and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $49 a year on a $10,000 investment.
Which performed better, ION or SPY?
Over the past year ION returned +44.27% vs +19.36% for SPY, so ION leads on 1-year performance. Over the longest common window we track (4 years), ION annualized +7.77% vs +19.79% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ION or SPY?
ION has been the more volatile fund at 31.1% annualized versus 12.5% for SPY. Worst drawdown: ION -52.2% vs SPY -18.8%.
Should I hold both ION and SPY?
ION and SPY have a monthly-return correlation of 0.44, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ION and SPY?
2.5% of ION's money is in holdings SPY also owns. 0.0% of SPY's is in holdings ION also owns. They hold 1 positions in common, counted across the 53 positions we hold weights for in ION and 503 in SPY.
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.
Is SPY better than ION?
SPY has a lower expense ratio. ION led over 1Y, SPY over 3Y and the full window. ION is less concentrated, with 31.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.