Vanguard S&P 500 ETF (Dinari Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 189.4× the size of Vanguard S&P 500 ETF (Dinari Tokenized ETF) (VOO) by market capitalisation. Over the past 30 days, SPYON is ahead by 1.2 percentage points (VOO -0.4% against SPYON +0.8%). Their daily returns move very closely together (correlation 0.90 across 20 shared trading days). Both have run at a similar volatility, around 11% annualised.

Correlation: 0.90
Size ratio: 1 : 189.4
Ahead over 30 days: SPYON

Vanguard S&P 500 ETF (Dinari Tokenized ETF)VOO

$704.4300

24h: +2.28%
Market cap: $246,182
Volume 24h: $2,348
Volatility (ann.): 11%

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

$760.1100

24h: -1.77%
Market cap: $46.62M
Volume 24h: $1.32M
Volatility (ann.): 10%

VOO 0.5%Share of the two combined market caps99.5% SPYON

Performance

VOOSPYON

7 days-0.46%-0.31%SPYON
30 days-0.40%+0.82%SPYON

Correlation

0.90over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	VOO	SPYON
Max drawdown (400d)	-2.4%	-2.5%
Risk-adjusted return (90d)	-0.04	0.02

Relative strength over 90 days: SPYON outperformed VOO by 0.3% — measured on the VOO/SPYON ratio, so it holds regardless of market direction.

Vanguard S&P 500 ETF (Dinari Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →