iShares TIPS 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 5.4× the size of iShares TIPS Bond ETF (Ondo Tokenized ETF) (TIPON) by market capitalisation. Over the past 30 days, IVVON is ahead by 12.6 percentage points (TIPON -2.8% against IVVON +9.8%). Their daily returns move closely together (correlation 0.84 across 23 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against TIPON's 58%.

Correlation: 0.84
Size ratio: 1 : 5.4
Ahead over 30 days: IVVON

iShares TIPS Bond ETF (Ondo Tokenized ETF)TIPON

$110.6200

24h: -0.32%
Market cap: $11.10M
Volume 24h: $5
Volatility (ann.): 58%

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

$768.9300

24h: +0.66%
Market cap: $59.87M
Volume 24h: $1,667
Volatility (ann.): 71%

TIPON 15.6%Share of the two combined market caps84.4% IVVON

Performance

TIPONIVVON

7 days-0.82%-1.45%TIPON
30 days-2.82%+9.76%IVVON

Correlation

0.84over 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	TIPON	IVVON
Max drawdown (400d)	-12.6%	-15.7%
Risk-adjusted return (90d)	-0.05	-0.02

Relative strength over 90 days: IVVON outperformed TIPON by 2.6% — measured on the TIPON/IVVON ratio, so it holds regardless of market direction.

iShares TIPS Bond ETF (Ondo Tokenized ETF) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →