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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 34.3× the size of VanEck Semiconductor ETF (bStocks Tokenized Stock) (SMHB) by market capitalisation. Their daily returns move closely together (correlation 0.63 across 53 shared trading days). SMHB has been the more volatile of the two, at 38% annualised against SPYON's 10%.

Correlation: 0.63
Size ratio: 1 : 34.3

VanEck Semiconductor ETF (bStocks Tokenized Stock)SMHB

$508.8600

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

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

$773.8200

24h: +1.58%
Market cap: $47.46M
Volume 24h: $1.62M
Volatility (ann.): 10%

SMHB 2.8%Share of the two combined market caps97.2% SPYON

Performance

SMHBSPYON

7 days-6.56%-1.77%SPYON
30 days-17.63%-1.20%SPYON
90 days-8.73%——

Correlation

0.63over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7290d: 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	SPYON
Max drawdown (400d)	-19.1%	-2.5%
Risk-adjusted return (90d)	-0.26	-0.12

Relative strength over 90 days: SPYON outperformed SMHB by 5.4% — measured on the SMHB/SPYON ratio, so it holds regardless of market direction.

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