> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fizen.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Main Products

> Tokenized U.S. stocks and ETFs available now in the Fizen Super App, and tokenized U.S. government bonds planned for a later phase.

## 1. Tokenized U.S. stocks and ETFs (available)

Tokenized U.S. stocks are blockchain tokens that track shares of publicly listed companies such as Apple, Microsoft and Tesla. They are issued by Ondo, and the underlying shares are held by custodians arranged by Ondo.

Fizen started with tokenized U.S. stocks. The catalogue covers **100+ tokenized U.S. stocks and ETFs**, including many large U.S. companies (for example AAPLon, TSLAon and MSFTon), plus ETFs that track U.S. indices, bonds, international markets, gold and silver. See the [full list](https://docs.fizen.io/help-center/fizen-us-stocks/list-of-tokenized-securities.md).

You buy, sell and hold these tokens directly in your own Fizen wallet, without a traditional brokerage account.

> [!NOTE]
>
> Holding a token is not the same as holding the share in a brokerage account. The token is a tokenized representation, and your rights (dividends, voting, corporate actions, redemption) are defined by Ondo and may be less than those of a direct shareholder. See section 7.4 of the [Tokenized Securities Terms](https://docs.fizen.io/tokenized-rwa.md).

## 2. Tokenized U.S. government bonds (planned)

U.S. government bonds (Treasuries) are issued by the U.S. Department of the Treasury. Fizen is researching tokenized U.S. government bond products for a later phase. They are **not yet available** in the app, and there is no launch date.

> [!NOTE]
>
> The [U.S. bond fund tokens](https://docs.fizen.io/help-center/fizen-us-stocks/tokenized-us-bond-funds.md) you can trade today (such as TLTon) track bond **ETFs**. Their price moves with interest rates and can fall. They are not the same as holding a government bond to maturity.

## 3. Stocks vs government bonds: risk and return

| | Tokenized U.S. stocks | Tokenized U.S. government bonds (planned) |
| - | - | - |
| **What drives the value** | The share price of the company, plus any reinvested dividends | Interest paid by the bond and changes in market interest rates |
| **Volatility** | Usually higher. Share prices can move sharply on market news, economic data or company results | Usually lower than stocks, but bond prices still move when interest rates change |
| **Main risks** | Falling share prices, company-specific events, token and issuer risks | Interest-rate changes, inflation, token and issuer risks |
| **Who it may suit** | People who accept higher risk and price swings | People who want lower volatility than stocks |

> [!WARNING]
>
> No return is guaranteed for any of these products. Past performance is not a guide to future results. Token-specific risks (issuer, custody, smart contract, liquidity) apply on top of the risks of the underlying asset. This table is general information and not financial advice.


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