SPDR S&P 500 ETF Trust • Robinhood Token vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 2.9× the size of SPDR S&P 500 ETF Trust • Robinhood Token (SPY) by market capitalisation. Over the past 30 days, IVVON is ahead by 12.6 percentage points (SPY -2.8% against IVVON +9.8%). Their daily returns move barely together (correlation 0.23 across 34 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against SPY's 13%.

Correlation: 0.23
Size ratio: 1 : 2.9
Ahead over 30 days: IVVON

SPDR S&P 500 ETF Trust • Robinhood TokenSPY

$750.6200

24h: -0.39%
Market cap: $20.63M
Volume 24h: $36.42M
Volatility (ann.): 13%

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

$771.1900

24h: +0.89%
Market cap: $60.14M
Volume 24h: $1,208
Volatility (ann.): 71%

SPY 25.5%Share of the two combined market caps74.5% IVVON

Performance

SPYIVVON

7 days-2.21%-1.45%IVVON
30 days-2.81%+9.76%IVVON

Correlation

0.23over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2490d: 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	SPY	IVVON
Max drawdown (400d)	-3.5%	-15.7%
Risk-adjusted return (90d)	-0.17	-0.02

Relative strength over 90 days: IVVON outperformed SPY by 1.0% — measured on the SPY/IVVON ratio, so it holds regardless of market direction.

SPDR S&P 500 ETF Trust • Robinhood Token →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →