VanEck Semiconductor ETF (bStocks Tokenized Stock) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 43.9× the size of VanEck Semiconductor ETF (bStocks Tokenized Stock) (SMHB) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 55 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against SMHB's 38%.

Correlation: 0.00
Size ratio: 1 : 43.9

VanEck Semiconductor ETF (bStocks Tokenized Stock)SMHB

$508.8600

24h: +0.07%
Market cap: $1.38M
Volume 24h: $716,601
Volatility (ann.): 38%

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

$778.9700

24h: +1.74%
Market cap: $60.65M
Volume 24h: $1,312
Volatility (ann.): 71%

SMHB 2.2%Share of the two combined market caps97.8% IVVON

Performance

SMHBIVVON

7 days-6.56%-1.45%IVVON
30 days-17.63%+9.76%IVVON
90 days-8.73%——

Correlation

0.00over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	SMHB	IVVON
Max drawdown (400d)	-19.1%	-15.7%
Risk-adjusted return (90d)	-0.26	-0.02

Relative strength over 90 days: IVVON outperformed SMHB by 6.4% — measured on the SMHB/IVVON ratio, so it holds regardless of market direction.

VanEck Semiconductor ETF (bStocks Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →