ProShares S&P Global Core Battery Metals ETF
ION
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Gilad Shany
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 7501 Wisconsin Avenue, Suite 1000E Bethesda MD United States of America 20814
- IPO Date
- Dec 1, 2022
- Website
- proshares.com
- Similar Companies
- Business
- ProShares S&P Global Core Battery Metals ETF (ION) is an exchange-traded fund that seeks to track the performance of the S&P Global Core Battery Metals Index, providing investors with targeted exposure to companies involved in the production and processing of key metals essential for battery manufacturing. The ETF holds a diversified portfolio of global equities across the battery metals supply chain, including producers of lithium, nickel, cobalt, copper, and manganese; these holdings encompass mining companies, metal refiners, and chemical processors that supply materials for electric vehicle batteries, energy storage systems, and renewable energy technologies. ION offers investors a thematic investment vehicle focused on the growing demand for battery metals driven by the global energy transition, with shares listed on the NYSE Arca exchange. The fund's primary products include its ETF shares traded under the ticker ION, which provide liquid access to the index constituents weighted by free-float adjusted market capitalization; it employs a full replication strategy to mirror the benchmark, with a low expense ratio designed for cost efficiency. Geographically, ION invests worldwide, with significant exposure to operations in Australia, Canada, the United States, Indonesia, and South America, targeting large-cap and mid-cap companies in the metals and mining sector serving electric vehicle manufacturers, battery producers, and grid storage developers. Launched in 2022 by ProShare Advisors LLC, the fund is headquartered in Bethesda, Maryland, as part of ProShares' suite of over 140 ETFs, and operates without notable subsidiaries or parent company overlays beyond its sponsor. Recent developments include the index's evolution to incorporate additional rare earth elements and graphite producers in mid-2024, enhancing diversification amid supply chain constraints; ProShares also announced strategic alliances with index providers S&P Dow Jones Indices to refine methodology for ESG-integrated battery metals screening. In late 2024, ION experienced assets under management growth exceeding 20% year-over-year, fueled by inflows from institutional investors betting on EV adoption, alongside a minor rebalancing to increase copper exposure following global supply forecasts. No major acquisitions, funding rounds, or name changes have occurred for the ETF itself within the past two years, though ProShares expanded its commodity-themed offerings with complementary clean energy ETFs.