SPDR Bloomberg 1-3 Month T-Bill ETF (Anchored Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 54.5× the size of SPDR Bloomberg 1-3 Month T-Bill ETF (Anchored Tokenized ETF) (ABIL) by market capitalisation. Over the past 30 days, ABIL is ahead by 1.2 percentage points (ABIL -0.0% against SPYON -1.2%). Their daily returns move loosely together (correlation 0.39 across 25 shared trading days). SPYON has been the more volatile of the two, at 10% annualised against ABIL's 1%.

Correlation: 0.39
Size ratio: 1 : 54.5
Ahead over 30 days: ABIL

SPDR Bloomberg 1-3 Month T-Bill ETF (Anchored Tokenized ETF)ABIL

$91.5200

24h: +0.12%
Market cap: $862,498
Volume 24h: —
Volatility (ann.): 1%

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

$766.6300

24h: +0.93%
Market cap: $47.03M
Volume 24h: $1.56M
Volatility (ann.): 10%

ABIL 1.8%Share of the two combined market caps98.2% SPYON

Performance

ABILSPYON

7 days+0.05%-1.77%ABIL
30 days-0.03%-1.20%ABIL

Correlation

0.39over 25 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	ABIL	SPYON
Max drawdown (400d)	-0.3%	-2.5%
Risk-adjusted return (90d)	-0.03	-0.12

Relative strength over 90 days: SPYON outperformed ABIL by 0.1% — measured on the ABIL/SPYON ratio, so it holds regardless of market direction.

SPDR Bloomberg 1-3 Month T-Bill ETF (Anchored Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →