iShares Core MSCI EAFE 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 3.6× the size of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) (IEFAON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 35 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against IEFAON's 25%.

Correlation: -0.01
Size ratio: 1 : 3.6

iShares Core MSCI EAFE ETF (Ondo Tokenized ETF)IEFAON

$98.0600

24h: -0.87%
Market cap: $16.77M
Volume 24h: $1.01M
Volatility (ann.): 25%

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

$776.9100

24h: +1.45%
Market cap: $60.53M
Volume 24h: $1,325
Volatility (ann.): 71%

IEFAON 21.7%Share of the two combined market caps78.3% IVVON

Performance

IEFAONIVVON

7 days-0.46%-1.45%IEFAON
30 days-2.03%+9.76%IVVON
90 days+1.97%——
1 year+13.53%——

Correlation

-0.01over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	IEFAON	IVVON
Max drawdown (400d)	-11.0%	-15.7%
Risk-adjusted return (90d)	0.09	-0.02

Relative strength over 90 days: IVVON outperformed IEFAON by 1.4% — measured on the IEFAON/IVVON ratio, so it holds regardless of market direction.

iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →