iShares 20+ Year Treasury Bond ETF (Ondo Tokenized ETF) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 3.1× the size of iShares 20+ Year Treasury Bond ETF (Ondo Tokenized ETF) (TLTON) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 37 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against TLTON's 13%.

Correlation: 0.02
Size ratio: 1 : 3.1

iShares 20+ Year Treasury Bond ETF (Ondo Tokenized ETF)TLTON

$85.7100

24h: -0.31%
Market cap: $19.55M
Volume 24h: $6,264
Volatility (ann.): 13%

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

$778.2900

24h: +1.85%
Market cap: $60.60M
Volume 24h: $1,241
Volatility (ann.): 71%

TLTON 24.4%Share of the two combined market caps75.6% IVVON

Performance

TLTONIVVON

7 days+2.32%-1.45%TLTON
30 days-0.49%+9.76%IVVON
90 days-3.89%——
1 year-4.99%——

Correlation

0.02over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	TLTON	IVVON
Max drawdown (400d)	-11.2%	-15.7%
Risk-adjusted return (90d)	-0.20	-0.02

Relative strength over 90 days: IVVON outperformed TLTON by 1.6% — measured on the TLTON/IVVON ratio, so it holds regardless of market direction.

iShares 20+ Year Treasury Bond ETF (Ondo Tokenized ETF) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →