Invesco QQQ • Robinhood Token vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 10.1× the size of Invesco QQQ • Robinhood Token (QQQ) by market capitalisation. Over the past 30 days, IVVON is ahead by 13.3 percentage points (QQQ -3.8% against IVVON +9.4%). Their daily returns move barely together (correlation 0.20 across 33 shared trading days). IVVON has been the more volatile of the two, at 70% annualised against QQQ's 24%.

Correlation: 0.20
Size ratio: 1 : 10.1
Ahead over 30 days: IVVON

Invesco QQQ • Robinhood TokenQQQ

$675.8900

24h: -1.19%
Market cap: $5.99M
Volume 24h: $4.54M
Volatility (ann.): 24%

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$779.4200

24h: +1.90%
Market cap: $60.69M
Volume 24h: $832
Volatility (ann.): 70%

QQQ 9.0%Share of the two combined market caps91.0% IVVON

Performance

QQQIVVON

7 days-1.76%+0.11%IVVON
30 days-3.83%+9.43%IVVON

Correlation

0.20over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	QQQ	IVVON
Max drawdown (400d)	-8.2%	-15.7%
Risk-adjusted return (90d)	-0.15	0.01

Relative strength over 90 days: IVVON outperformed QQQ by 3.8% — measured on the QQQ/IVVON ratio, so it holds regardless of market direction.

Invesco QQQ • Robinhood Token →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →