ION
ProShares S&P Global Core Battery Metals ETF
ION tracks an index of companies from around the world that are engaged in the mining of base metals used to produce batteries.
Fund Basics
| Fund sponsor | ProShares |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 29, 2022 |
| Assets (mns) | $2 |
| Expense ratio | 58 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PILBARA MINERALS LIMITED | 4.5 % |
| INDEPENDENCE GROUP NL | 4.1 % |
| MINERAL RESOURCES LTD | 4.0 % |
| PACIFIC METALS CO LTD | 4.0 % |
| ALBEMARLE CORP | 3.9 % |
| QUIMICA Y MINERA CHIL-SP ADR | 3.8 % |
| ZANGGE MINING COMPANY LIMITED CLASS A | 3.8 % |
| LUNDIN MINING CORP | 3.7 % |
| AMG ADVANCED METALLURGICAL | 3.5 % |
| ERAMET | 3.3 % |
Constituent Breakdown
| Number of holdings | 43 |
| Herfindahl-Hirschman Index | 326 |
| Wgt avg mkt cap (mns) | $11,288 |
| Large cap (>$10bn) | 32.1% |
| Mid cap ($2-10bn) | 47.8% |
| Small cap (<$2bn) | 19.0% |
| Developed mkts. | 61.0% |
| Emerging mkts. | 39.0% |
Country Exposure
 |
CHINA | 22.8 % |
 |
AUSTRALIA | 17.1 % |
 |
JAPAN | 11.4 % |
 |
CANADA | 10.2 % |
 |
INDONESIA | 4.7 % |
 |
UNITED STATES | 3.9 % |
 |
CHILE | 3.8 % |
 |
NETHERLANDS | 3.5 % |
 |
FRANCE | 3.3 % |
 |
HONG KONG | 2.9 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -7.1% | -18.7% | -- | -- | -- | -- | -18.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.24 | 41% |
| MSCI EAFE | 1.28 | 55% |
| MSCI Emg Mkts | 1.35 | 64% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.60% |
| ADV of underlying (mns) | $2,704 |
Technical Indicators
| Recent close | $29.53 |
| 30d moving avg. | $29.41 |
| Annualized volatility | 25.5% |
| Relative strength (RSI) | 57 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ION |
Expenses vs. ION |
ALTAR Score™ vs. ION |
|---|---|---|---|---|
| DMAT | Global X Disruptive Materials ETF | 23.9% | +1 bp | -1.7% |
| LITP | Sprott Lithium Miners ETF | 23.1% | +7 bp | +0.8% |
| LIT | Global X Lithium & Battery Tech ETF | 22.6% | +17 bp | -1.4% |
| SETM | Sprott Energy Transition Materials ETF | 22.4% | +7 bp | -6.3% |
| CRIT | Optica Rare Earths & Critical Materials ETF Optica Rare Eart | 22.0% | +27 bp | -3.5% |
| REMX | VanEck Rare Earth/Strategic Metals ETF | 21.6% | -4 bp | +0.3% |
| BATT | Amplify Lithium & Battery Technology ETF | 19.3% | +1 bp | -8.7% |
| GMET | VanEck Green Metals ETF | 19.0% | +5 bp | -1.8% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 11.2% | -19 bp | -0.6% |
| COPX | Global X Copper Miners ETF | 11.0% | +7 bp | -4.7% |
Risk and Returns: ION vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ION
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
ION
11.6%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 11.6% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 347 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
5.0%. ION's ALTAR Score™ is approximately
1.6 standard deviations
above
the category average. This places ION in the 95th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ION
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ION | 58.0 | 60.3 | 118.3 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .