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ION vs SETM

ProShares S&P Global Core Battery Metals ETF

IONCNYSE Arca

Sprott Critical Materials ETF

SETMCNasdaq

Overlap

Expense ratio

ION −0.07pt a year

ION0.58%SETM0.65%

Avg volume · 30D

SETM 86.2×the volume

ION1.83KSETM157K

3Y return · a year

SETM +6.1pt

ION+11.0%SETM+17.1%

ION vs SETM Performance

Oct 31, 2025 – Oct 30, 2026

−9.8%ION−8.3%SETM

Oct 31, 2025 to Oct 30, 2026. ION −9.8%. SETM −8.3%. Use the arrow keys to read each point.20%40%60%Oct 2025Apr 2026Oct 2026
Expense ratio
ION 0.58%, better
SETM 0.65%
Fund size
ION $9M
SETM $418M
1Y total return
ION −9.8%
SETM −8.3%, better
Yield (12M)
ION 2.20%, better
SETM 1.85%
Holdings
ION 53
SETM 157
Avg volume (30D)
ION 1.83K sh
SETM 157K sh, better
NAV per share
ION $38.07
SETM $24.58
52W range

ETF.net Grade

ION: Cost 69, Risk 63, Mission not scored, Tradability 16, Holdings not scored, Durability 46. SETM: Cost 38, Risk 51, Mission not scored, Tradability 81, Holdings 80, Durability 64.
Pillar letters and Scores for ION, SETM, with each pillar’s weight
PillarIONSETM
Cost30% weightB69HigherD38
Mission25% weightNot scoredNot scored
Risk15% weightB63HigherC51
Tradability15% weightF16A81Higher
Holdings10% weightNot scoredA80
Durability5% weightC46B64Higher

Rank among Critical Materials funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ION and SETM are both graded against the same 12 Critical Materials funds, so their Grades compare head to head.

Critical Materials⁠

Category · 12 funds
See all 12 ›

SETM ranks 4th and ION 5th of 12 funds in the Critical Materials Category.

  1. Rank 1AREMXVanEck Rare Earth and Strategic Metals ETFScore 75
  2. Rank 2BILITiShares Lithium Miners and Producers ETFScore 64
  3. Rank 3BEARTGlobal X Rare Earth & Critical Materials ETFScore 59
  4. Rank 4CSETMSprott Critical Materials ETFScore 56
  5. Rank 5CFMTLFirst Trust Indxx Critical Metals ETFScore 53
  6. Rank 5CIONProShares S&P Global Core Battery Metals ETFScore 53
  7. Rank 7CEMETVanEck Copper and Green Metals ETFScore 52

Our read on each fund

ETF.net Research

IONCProShares S&P Global Core Battery Metals ETF

SETMCSprott Critical Materials ETF

In short

ION Most battery funds hand you carmakers and cell assemblers. ION stays upstream: only the miners pulling lithium, nickel and cobalt out of the ground, weighted by how much of their revenue actually comes from those three metals.

SETM Most funds in this corner pick a lane: lithium, or rare earths. SETM tracks an index built to span the wider critical-materials complex, roughly 160 miners and processors in a single basket.

Stated mandate

ION ION invests globally in companies producing battery metals used in next-generation technologies. Its mandate focuses on lithium, nickel, and cobalt mining companies and the battery-driven demand supporting those metals.

SETM SETM seeks to track, before fees and expenses, the total-return performance of the Nasdaq Sprott Critical Materials Index.

Why people hold it

  • ION Launched in 2022 as the first ETF built to hold only battery-metals miners. No EV brands or battery assemblers riding along in the basket.proshares.com
  • The index ranks companies by the share of revenue they earn producing cobalt, lithium and nickel, so the purest miners carry the heaviest weights.spglobal.com
  • A 0.58% expense ratio sits below the typical fee in the critical-materials aisle, and the fund distributes quarterly.proshares.com
  • Global net: the eligible pool is S&P's worldwide market index, so miners listed outside the US compete for slots on equal footing.spglobal.com
  • SETM Peers narrow to one metal (ILIT for lithium, REMX and EART for rare earths). SETM holds roughly 160 miners and processors across the theme, in one rules-based index.
  • The 0.65% fee lands right at the middle of the critical-materials pack. Breadth here does not carry a premium price tag.
  • Real size for a niche theme, with regular daily volume behind it. That tends to mean easier fills than the thinnest shelves in mining ETFs.
  • Fully index-driven: the fund aims to match the Nasdaq Sprott Critical Materials Index before fees, so the holdings follow a published rulebook rather than a manager's call.

Worth knowing

  • ION Roughly 50 miners levered to three commodity prices. Purity cuts both ways: when lithium, nickel and cobalt move, there is little else in here to cushion it.proshares.com
  • A small, thinly traded fund. Spreads can run wider than in the aisle's household names, which matters most on larger orders.
  • Broader miner funds such as PICK spread across metals and mining generally and charge less. ION is the narrower, more concentrated cut of the theme.
  • SETM Mining exposure comes cheaper elsewhere in the group: PICK runs 0.39%, REMX 0.53%. The extra basis points buy Sprott's particular definition of critical materials.
  • Miner shares move with commodity prices and government policy, so a single-theme equity basket can swing hard in both directions.
  • Income is not the job here. Distributions arrive annually or semiannually, not on a monthly rhythm.

Full ION profile⁠

Full SETM profile⁠

ION vs SETM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ION vs SETM Cost

Overpaying SETM vs ION

$1,264

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ION 0.58%

    $11,453

  • SETM 0.65%

    $12,717

$10,000
30 years

Cost over time

  • ION 0.58%
  • SETM 0.65%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530SETM $12,717ION $11,453

Year by year

YearIONSETMOverpaying
10$1,041$1,163$122
20$3,986$4,440$454
30$11,453$12,717$1,264

Expense ratio

  • 0.58%ION, cheaper
  • 0.65%SETM
  • Middle half of Critical Materials funds
  • Median 0.64%

ION 4th cheapest of 12 funds

SETM 7th cheapest of 12 funds

ION vs SETM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ION 2.20%, better
SETM 1.85%
Payout (12M)
ION $0.82
SETM $0.45
Last payment
ION $0.28
SETM $0.45
Ex-dividend
ION Sep 23, 2026
SETM Dec 18, 2025
Paid on
ION Sep 29, 2026
SETM Dec 22, 2025
Frequency
ION Quarterly
SETM Annual

Distribution history

Per share, 2022 to 2026, same scale for both

IONQuarterly · 14 paymentsAll ION payments⁠
One bar per payment. 14 payments from 2022 to 2026 YTD. Dec 22, 2022 $0.05; Jun 21, 2023 $0.25; Sep 20, 2023 $0.31; Dec 20, 2023 $0.15; Mar 20, 2024 $0.03; Jun 26, 2024 $0.19; Sep 25, 2024 $0.16; Dec 23, 2024 $0.07; Mar 26, 2025 $0.02; Jun 25, 2025 $0.27; Sep 24, 2025 $0.22; Dec 24, 2025 $0.34; Jun 24, 2026 $0.21; Sep 23, 2026 $0.28. Use the arrow keys to read each point.$0$0.5020232026YTD
SETMAnnual · 3 paymentsAll SETM payments⁠
One bar per payment. 3 payments from 2022 to 2026 YTD. Dec 14, 2023 $0.44; Dec 12, 2024 $0.31; Dec 18, 2025 $0.45. Use the arrow keys to read each point.$0$0.5020232026YTD

ION vs SETM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ION 33.9%, betterSETM 36.4%
Return per unit of riskSharpe ratio, 3 years
ION 0.34SETM 0.49, better
Worst fallMax drawdown, 5 years
ION −52.1%since Dec 2022SETM −42.8%since Feb 2023
Market sensitivityBeta, 5 years
ION 1.30SETM 1.33

ION and SETM in the news

All news⁠

Popular comparisons

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    Expense ratio
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