ION vs QBTZ

Comparison between PROSHARES S&P GLOBAL CORE BATTERY METALS ETF (ION, ETF) and Defiance Daily Target 2x Short QBTS ETF (QBTZ, ETF).

ION vs QBTZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ION(ETF)	QBTZ(ETF)
Net Assets	$17M	$17M
Expense Ratio	0.58%	N/A
Max Drawdown	53.84%	96.03%
Sharpe Ratio	1.88	-0.19
5Y Beta	1.02	-8.65

Net Assets

Winner

ION

$17M

QBTZ

$17M

Expense Ratio

ION

0.58%

QBTZ

N/A

Max Drawdown

Winner

ION

53.84%

QBTZ

96.03%

Sharpe Ratio

Winner

ION

1.88

QBTZ

-0.19

5Y Beta

ION

1.02

Winner

QBTZ

-8.65

ION vs QBTZ - Historical Returns

Returns include dividend reinvestment.

Period	ION	QBTZ
1 month	-12.61%	-60.13%
3 months	+2.74%	-86.95%
6 months	+23.37%	-87.74%
1 year	+109.73%	N/A
Max(CAGR)	+11.66%	-97.46%

Winner

ION

-12.61%

QBTZ

-60.13%

Winner

ION

+2.74%

QBTZ

-86.95%

Winner

ION

+23.37%

QBTZ

-87.74%

ION

+109.73%

QBTZ

N/A

Max(CAGR)

Winner

ION

+11.66%

QBTZ

-97.46%

ION vs QBTZ - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	ION	QBTZ
2026	+10.25%	-80.54%
2025	+107.85%	-50.03%
2024	-19.65%	N/A
2023	-13.62%	N/A
2022	-8.86%	N/A

ION vs QBTZ Drawdown Comparison

The maximum drawdown for ION was -52.07%, occurring on Apr 8, 2025. Recovery took 689 trading sessions.

The maximum drawdown for QBTZ was -96.03%, occurring on May 29, 2026. This drawdown has not yet recovered.

The current ION drawdown is -14.68%. The current QBTZ drawdown is -94.25%.

Rank	ION	QBTZ
#1	-52.07% Feb 1, 2023 - Oct 30, 2025	-96.03% Nov 21, 2025 - May 29, 2026
#2	-23.30% Jan 27, 2026 - Apr 17, 2026	-56.22% Oct 10, 2025 - Oct 22, 2025
#3	-22.86% May 6, 2026 - Jun 10, 2026	-53.23% Oct 22, 2025 - Nov 17, 2025
#4	-9.89% Dec 2, 2022 - Jan 12, 2023	-5.58% Nov 17, 2025 - Nov 20, 2025
#5	-7.18% Oct 30, 2025 - Nov 10, 2025	-4.41% Oct 8, 2025 - Oct 10, 2025
#6	-6.26% Nov 19, 2025 - Nov 28, 2025	N/A
#7	-4.91% Dec 26, 2025 - Jan 5, 2026	N/A
#8	-4.32% Apr 17, 2026 - Apr 30, 2026	N/A
#9	-3.97% Jan 14, 2026 - Jan 22, 2026	N/A
#10	-3.33% Nov 28, 2025 - Dec 8, 2025	N/A
#11	-3.24% Dec 11, 2025 - Dec 18, 2025	N/A
#12	-3.01% Jan 6, 2026 - Jan 12, 2026	N/A
#13	-2.35% Jan 26, 2023 - Feb 1, 2023	N/A
#14	-2.13% Jan 12, 2023 - Jan 20, 2023	N/A
#15	-2.09% May 1, 2026 - May 6, 2026	N/A

Correlation

Correlation between ION and QBTZ is -0.46 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.46

-101