Do ION and WATS hold the same stocks?

By their latest filings, 6% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, ION or WATS?

ION has 3% of its weight in S&P 500 names and WATS has 29%, so ION differs more from the index.

Which is cheaper, ION or WATS?

ION charges 0.58% a year and WATS charges 0.35%, so WATS is cheaper. Fees come from each fund's prospectus.

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ION vs WATS: which is really different?

ION and WATS hold 6% of their weight in the same names. ProShares S&P Global Core Battery Metals ETF and Corgi Battery Energy Storage Systems ETF.

2.6%

ION in the S&P 500

28.9%

WATS in the S&P 500

+18.9%

ION total return, 1 year

−24.9%

WATS total return, since launch

ION · 1 year to Sep 30, 202697% of its weight is outside the S&P 500

3% of ION's weight is in S&P 500 companies and 97% is outside the index

WATS · 3 months to Sep 30, 202671% of its weight is outside the S&P 500

29% of WATS's weight is in S&P 500 companies and 71% is outside the index

ETFIQ Off-Index Score · ION scores higherHow much of it is not the index it is sold as an alternative to?

ION 92

WATS 51.3

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, ION and WATS hold 6% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

50%

half

6% in common

Positions both hold, largest shared weight first

Holding ION WATS

QUIMICA Y MINERA CHIL-SP ADR 2.88% 4.01%

ALBEMARLE CORP 2.62% 3.43%

Only in ION

PACIFIC METALS CO LTD 5.04%

IGO LTD 3.74%

PT TIMAH (PERSERO) TBK 3.55%

VALE INDONESIA TBK 3.39%

SIGMA LITHIUM CORP 3.19%

ERAMET 2.93%

TIBET MINERAL DEVELOPMENT-A 2.93%

PLS GROUP LTD 2.90%

Only in WATS

Tesla Inc 17.02%

Bloom Energy Corp 12.36%

Enphase Energy Inc 6.12%

EnerSys 5.76%

Energy Vault Holdings Inc 4.58%

AES Corp/The 4.33%

Generac Holdings Inc 4.09%

Sunrun Inc 3.50%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

6% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	ION	WATS	ION	WATS	ION	WATS
3 months	−10.4%	−23.4%	−12.9 pts	−26.0 pts	−12.5 pts	−25.6 pts
6 months	−19.6%	not published	−36.6 pts	not published	−46.5 pts	not published
1 year	+18.9%	not published	+3.1 pts	not published	−4.9 pts	not published
3 years	+48.5%	not published	−36.5 pts	not published	−61.5 pts	not published
Since launch ION Dec 2022 · WATS May 2026	+16.1%	−24.9%	−81.1 pts	−29.3 pts	−141.7 pts	−31.4 pts

ION and WATS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

ION

ProShares S&P Global Core Battery Metals ETF · Holds 53 stocks in lithium and battery metals, 3% of its weight in S&P 500 companies

WATS

Corgi Battery Energy Storage Systems ETF · Holds 24 stocks in electric vehicles and batteries, 29% of its weight in S&P 500 companies

Issuer ProShares Corgi

Theme Lithium and battery metals Electric vehicles and batteries

In the S&P 500 2.6% 28.9%

Active share vs the S&P 500 100.0% 98.1%

In the Nasdaq-100 0.0% 17.0%

Holdings 53 24

Top ten, share of the fund 33.4% 65.2%

Expense ratio 0.58% 0.35%

Fee for the differing part 0.58% 0.36%

Total return, 1 year +18.9% −24.9% (since launch on May 6, 2026)

vs the S&P 500 +3.1 pts −29.3 pts

vs the Nasdaq-100 −4.9 pts −31.4 pts

Below its high −32.9% −38.3%

Net assets $12m $496,218

ION and WATS on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ION in plain words

By weight, 3% of ION's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 33% of the fund across 53 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +18.9% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 3.1 pts. It sits 32.9% below its all-time high of May 6, 2026.

WATS in plain words

By weight, 29% of WATS's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 65% of the fund across 24 positions, as published by its issuer for Sep 30, 2026. Since it launched on May 6, 2026 the fund returned −24.9% with distributions reinvested against +4.5% for the S&P 500, so a holder was behind by 29.3 pts. It sits 38.3% below its all-time high of Jun 2, 2026.

Questions people ask

Do ION and WATS hold the same stocks?: By their latest filings, 6% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, ION or WATS?: ION has 3% of its weight in S&P 500 names and WATS has 29%, so ION differs more from the index.
Which is cheaper, ION or WATS?: ION charges 0.58% a year and WATS charges 0.35%, so WATS is cheaper. Fees come from each fund's prospectus.

Other comparisons

ION vs LITP ION vs FDRV ION vs HAIL ION vs IDRV WATS vs BATT WATS vs CABZ WATS vs DRIV WATS vs EVMT

ION on its own →WATS on its own →How every figure is computed →Standards and sources →

Where these figures came from

ION filings on SEC EDGAR ↗ION prospectus with the expense ratio (SEC) ↗ProShares page for ION ↗WATS filings on SEC EDGAR ↗WATS prospectus with the expense ratio (SEC) ↗Corgi website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, ION against WATS, data as of Sep 30, 2026. https://etfiq.com/compare/themes/ion-vs-wats

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.