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.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

2.9 M

ASSETS UNDER MGMT

58 bp

EXPENSES
Fund Basics
Fund sponsorProShares
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateNov 29, 2022
Assets (mns)$3
Expense ratio58 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionFundamental
WeightingFundamental
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
INDEPENDENCE GROUP NL 4.0 %
PILBARA MINERALS LIMITED 3.9 %
INTERNATIONAL NICKEL INDONES 3.9 %
TIBET MINERAL DEVELOPMENT CO. LTD. CLASS 3.7 %
SINOMINE RESOURCE GROUP CO., LTD. CLASS 3.6 %
PACIFIC METALS CO LTD 3.4 %
ALBEMARLE CORP 3.4 %
QUIMICA Y MINERA CHIL-SP ADR 3.3 %
QINGHAI SALT LAKE POTASH -A 3.2 %
TIANQI LITHIUM INDUSTRIES, INC. CLASS A 3.2 %
Constituent Breakdown
Number of holdings51
Herfindahl-Hirschman Index 264
Wgt avg mkt cap (mns)$9,590
Large cap (>$10bn)24.2%
Mid cap ($2-10bn)51.0%
Small cap (<$2bn)23.1%
Developed mkts.38.0%
Emerging mkts.59.6%
Country Exposure
CHINA 29.9 %
AUSTRALIA 15.9 %
INDONESIA 8.9 %
SOUTH AFRICA 8.8 %
CANADA 5.1 %
JAPAN 4.7 %
UNITED STATES 3.4 %
CHILE 3.3 %
NETHERLANDS 2.9 %
FRANCE 2.3 %
Historical Performance


Standardized Performance (as of 10/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -9.6% 1.1% -- -- -- -- -13.8%
Volatility 28.7% 28.3% -- -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5000.8415%
MSCI EAFE1.0131%
MSCI Emg Mkts1.4352%
Liquidity Measures
Avg. volume (000)1
Turnover1.0%
Avg. Bid/Ask (% of price)0.60%
ADV of underlying (mns)$3,457
Technical Indicators
Recent close$28.91
30d moving avg.$29.18
Annualized volatility26.1%
Relative strength (RSI)53
Short interest (ETF)0.0%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: ION vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
0.8 7.6 0.9 3.2% --
Based on closing prices from 11/13/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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 Rating

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.

ALTAR Score™

ION

15.4%

Cat. Avg

4.2%


ALTAR Score™ Calculation

Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™ of 4.2% and a standard deviation of 4.6%. ION's ALTAR Score™ is approximately 2.5 standard deviations above the category average. This places ION in the 99th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

ION
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
Global Equity ETFs
# of ETFs 191
Avg. Expense Ratio 55.4 bp
Std. Deviation 17.5 bp
ION (58 bp) Percentile rank 56
Peer Group Expense Ratio Distribution


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. 51.7 32.8 84.5
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .