ETF Evaluator:
ProShares S&P Global Cor Btty Mtls ETF ()
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(as of Aug 25)
Best Performing in Natural Resources Over the Last Year
| 88.7% | Global X Copper Miners ETF (COPX) |
| 83.8% | Themes Copper Miners ETF (COPA) |
| 82.3% | Sprott Copper Miners ETF (COPP) |
| 81.2% | Sprott Junior Copper Miners ETF (COPJ) |
| 76.4% | iShares Copper and Metals Mining ETF (ICOP) |
Risk
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Risk
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ETF Details
ProShares S&P Global Cor Btty Mtls ETF Overview
ProShares S&P Global Cor Btty Mtls ETF (ION) is a passively managed Sector Equity Natural Resources exchange-traded fund (ETF). ProShares launched the ETF in 2022.
The investment seeks investment results, before fees and expenses, that track the performance of the S&P Global Core Battery Metals Index.
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to measure the performance of companies in the S&P Global Broad Market Index engaged in the mining of cobalt, lithium, and nickel—base metals used to produce batteries. Under normal circumstances, it will invest at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. It is non-diversified.
About ProShares S&P Global Cor Btty Mtls ETF (ION)
There are 2 members of the management team with an average tenure of 3.53 years: Alexander Ilyasov (2022) and Eric Silverthorne (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Global 1200 TR index with a weighting of 100% and S&P Global Core Battery Metals TR USD index with a weighting of 100%. ProShares S&P Global Cor Btty Mtls ETF has 64 securities in its portfolio. The top 10 holdings constitute 33.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares S&P Global Cor Btty Mtls ETF is part of the Equity global asset class and is within the Sector Equity ETF group. ProShares S&P Global Cor Btty Mtls ETF has 96.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.8% There is 96.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares S&P Global Cor Btty Mtls ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $1 billion average for the Natural Resources category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ION Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares S&P Global Cor Btty Mtls ETF expense ratio is average compared to funds in the Natural Resources category. ProShares S&P Global Cor Btty Mtls ETF has an expense ratio of 0.58%, which is 10% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares S&P Global Cor Btty Mtls ETF has a portfolio turnover rate of 54%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 41% for the Natural Resources category.
Recently, in the month of July 2026, ProShares S&P Global Cor Btty Mtls ETF returned -6.3%, which earned it a grade of F, as the Natural Resources category had an average return of -2.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares S&P Global Cor Btty Mtls ETF has a trailing yield of 1.61%, which is below the 2.30% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares S&P Global Cor Btty Mtls ETF Grades
Year to date, the ETF has returned -7.6%, 14.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 57.0% over the past year (grade of A) and 9.5% over the past three years (grade of C).
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ION Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ION Return (NAV) | -6.3% | -26.3% | 57.0% | 9.5% | na | na |
| ION Return (Price) | -6.8% | -27.6% | 57.0% | 9.2% | na | na |
| NAV +/- Price Return | 0.553% | 1.247% | -0.054% | 0.353% | na | na |
| Natural Resources Avg | -2.2% | -9.2% | 33.5% | 9.8% | 7.4% | 10.4% |
| ION Grade (NAV) | F | F | A | C | na | na |
| +/- Category (NAV) | -4.1% | -17.1% | 23.5% | -0.2% | na | na |
| ION Tax-Cost Ratio | na | na | 0.5% | 0.6% | na | na |
ION Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ION Return (NAV) | -7.6% | 107.3% | -19.3% | -14.3% | na | na | na | na | na | na | na |
| ION Return (Price) | -8.0% | 106.3% | -19.2% | -14.1% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.044% | -0.009% | -0.004% | -0.015% | na | na | na | na | na | na | na |
| Natural Resources Avg | 6.5% | 43.5% | -6.0% | 9.9% | -7.3% | 30.1% | 22.9% | 18.4% | -16.7% | 25.1% | 28.4% |
| ION Grade (NAV) | F | A | F | F | na | na | na | na | na | na | na |
| +/- Category | -14.1% | 63.8% | -13.3% | -24.1% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.32 |
| R-Squared: | 27% |
| Standard Deviation: | 32.1% |
| Category Risk Index: | 1.33 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 2.61 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.6% |
| Total Assets: | $ 12 Mil |
| Share Class Assets: | $ 12 Mil |
| Turnover: | 54.0% |
| Expense Ratio: | 0.58% |
| Index Fund: | Yes |
| Index Tracked: | S&P Global 1200 TR |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.5 years | |||
| Managers (Year): Ilyasov Alexander (2022), Silverthorne Eric (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 33.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 96.8% |
Portfolio Allocation |
|
| Domestic Stock: | 2.8% |
| Foreign Stock: | 96.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | November 29, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.58% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.53% |
