iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 5.9× the size of iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) (IEMGON) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 29 shared trading days). Both have run at a similar volatility, around 21% annualised.

Correlation: 0.39
Size ratio: 1 : 5.9

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%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6100

24h: -0.03%
Market cap: $53.02M
Volume 24h: $1.14M
Volatility (ann.): 20%

IEMGON 14.5%Share of the two combined market caps85.5% STRCON

Performance

IEMGONSTRCON

7 days+1.25%+0.80%IEMGON
30 days+0.04%+3.71%STRCON
90 days—+18.91%—

Correlation

0.39over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	STRCON
Max drawdown (400d)	-4.8%	-4.3%
Risk-adjusted return (90d)	0.00	1.13

Relative strength over 90 days: STRCON outperformed IEMGON by 2.1% — measured on the IEMGON/STRCON ratio, so it holds regardless of market direction.

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →