iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 7.9× the size of iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) (IEMGON) by market capitalisation. Over the past 30 days, IEMGON is ahead by 1.1 percentage points (IEMGON +0.0% against SPYX -1.1%). Their daily returns move loosely together (correlation 0.48 across 23 shared trading days). IEMGON has been the more volatile of the two, at 22% annualised against SPYX's 11%.

Correlation: 0.48
Size ratio: 1 : 7.9
Ahead over 30 days: IEMGON

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF)IEMGON

$74.6500

24h: -1.87%
Market cap: $9.02M
Volume 24h: $374
Volatility (ann.): 22%

SP500 xStockSPYX

$767.4700

24h: +1.53%
Market cap: $71.55M
Volume 24h: $7.57M
Volatility (ann.): 11%

IEMGON 11.2%Share of the two combined market caps88.8% SPYX

Performance

IEMGONSPYX

7 days+1.25%-1.60%IEMGON
30 days+0.04%-1.10%IEMGON

Correlation

0.48over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	IEMGON	SPYX
Max drawdown (400d)	-4.8%	-2.7%
Risk-adjusted return (90d)	0.00	-0.14

Relative strength over 90 days: IEMGON outperformed SPYX by 0.3% — measured on the IEMGON/SPYX ratio, so it holds regardless of market direction.

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) →SP500 xStock →