SPDR S&P 500 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 1.3× the size of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) by market capitalisation. Over the past 30 days, IVVON is ahead by 8.6 percentage points (SPYON +0.8% against IVVON +9.4%). Their daily returns move barely together (correlation 0.02 across 52 shared trading days). IVVON has been the more volatile of the two, at 70% annualised against SPYON's 10%.

Correlation: 0.02
Size ratio: 1 : 1.3
Ahead over 30 days: IVVON

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

$770.3100

24h: +1.71%
Market cap: $47.24M
Volume 24h: $1.37M
Volatility (ann.): 10%

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

$777.2600

24h: +1.77%
Market cap: $60.52M
Volume 24h: $159
Volatility (ann.): 70%

SPYON 43.8%Share of the two combined market caps56.2% IVVON

Performance

SPYONIVVON

7 days-0.31%+0.11%IVVON
30 days+0.82%+9.43%IVVON

Correlation

0.02over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	SPYON	IVVON
Max drawdown (400d)	-2.5%	-15.7%
Risk-adjusted return (90d)	0.02	0.01

Relative strength over 90 days: IVVON outperformed SPYON by 0.5% — measured on the SPYON/IVVON ratio, so it holds regardless of market direction.

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