iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 5.2× 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 1.2 percentage points (IEMGON +0.0% against SPYON -1.2%). Their daily returns move loosely together (correlation 0.50 across 25 shared trading days). IEMGON has been the more volatile of the two, at 22% annualised against SPYON's 10%.

Correlation: 0.50
Size ratio: 1 : 5.2
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%

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$767.6300

24h: +1.13%
Market cap: $47.08M
Volume 24h: $1.56M
Volatility (ann.): 10%

IEMGON 16.1%Share of the two combined market caps83.9% SPYON

Performance

IEMGONSPYON

7 days+1.25%-1.77%IEMGON
30 days+0.04%-1.20%IEMGON

Correlation

0.50over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5090d: 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	SPYON
Max drawdown (400d)	-4.8%	-2.5%
Risk-adjusted return (90d)	0.00	-0.12

Relative strength over 90 days: SPYON outperformed IEMGON by 0.0% — measured on the IEMGON/SPYON ratio, so it holds regardless of market direction.

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →