Energy Majors 5
Calibrated launch value from the rulebook. This basket carries no order panel today.
Why this basket exists
What the construction is trying to capture, who it is built for, and how it is meant to be sized inside a wider allocation.
Integrated oil and gas as a sovereign-risk hedge. Five super-majors with capex discipline, durable dividends, and exposure to whatever oil price regime materialises through 2030. ExxonMobil and Chevron lead on scale, ConocoPhillips on US shale, Occidental on the Permian and carbon capture, Petrobras on Brazilian deepwater. The portfolio slot that crypto cannot fill.
- Equities family · Moderate risk tier
- Rule-based, divisor-method NAV
No committee note is published for this basket yet. The text above is its catalogue description; the framing beside it is derived from the mandate and the risk tier.
5 holdings, drawn to scale
Each tile's area is its weight in the basket, so the picture and the table below it are the same data read two ways.
| Holding | Share | Weight | |
|---|---|---|---|
| 01XOMon | 30% | ||
| 02CVXon | 24% | ||
| 03COPon | 18% | ||
| 04OXYon | 16% | ||
| 05PBRon | 12% | ||
| Total | 100% |
Why each name earned its seat
Research notes per constituent: the case for the asset, the regime that suits it, and the risk the seat carries.
- XOMon30%Hedge
ExxonMobil is the largest US integrated oil-and-gas operator. The best capital-discipline track record in big oil.
Performs in inflation-up and energy-supply-shock regimes. Lower correlation to tech and crypto beta.
oil-price cycle - CVXon24%Hedge
Chevron is the second US oil major after ExxonMobil. Provides issuer diversification within the energy sleeve and similar capital-discipline narrative.
Tracks ExxonMobil closely. Performs in inflation-up and energy-supply-shock regimes.
oil-price cycle - COPon18%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
- OXYon16%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
- PBRon12%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
What the numbers say
Simulated on historical constituent prices. A Sharpe is only published once the measured window clears 90 days, and drawdowns keep their sign.
Every figure above is simulated on historical constituent prices for a basket that has not traded. It describes how the rules would have behaved, not how they will behave. OEN5 is part of a public preview.
Max expected loss over the horizon · 95% confidence · historical distribution. There is a 5% chance the actual loss is larger.
| Window | Return | Sharpe | vs BTC |
|---|---|---|---|
| Full window | +137.1% | 0.85 | +0.50 |
| 1 year | +48.7% | 2.53 | +3.36 |
| 6 months | +38.8% | 4.39 | +5.07 |
| 3 months | +8.6% | Not graded | · |
Returns are simulated over each window. A Sharpe is published only once that window clears 90 days, so the shorter rows read Not graded and carry no comparison with bitcoin. Short windows flatter and punish at random; read the full window first and treat the rest as texture.
What could go wrong
Priced off this basket's own weights rather than off a generic disclaimer, so every figure below can be checked against the table above.
Drawdowns of 30 to 50% are within historical range during cycle bottoms, tracking the broader crypto market. Family-standard caps and rebalancing rules apply.
- Top-name weightLow
XOMon is the largest position at 30%. Capped by methodology but still drives index direction.
- Short price historyHigh
XOMon, CVXon, COPon and 2 more have under a year of usable history. Backtest metrics carry wider error bars.
- Routing dependenceMedium
Routes through Dinari (stocks) and Backed Finance (ETFs). Settles on the EVM rail. KYC at the OLTA layer, not available in the US today.
| Scenario | Loss on net asset value |
|---|---|
| XOMon loses half its valueLargest holding, 30.0% of the basket | −15.0%Mechanical |
| The three largest holdings fall 30%XOMon, CVXon, COPon · 72.0% of the basket together | −21.6%Mechanical |
| The deepest simulated fall repeatsRecorded once in the window, 346 days to recover | −28.2%Recorded |
| A bad month, one in twenty95% historical value at risk over 30 days | −10.0%Measured |
The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.14 correlation to bitcoin over its window, which is loose enough that the holdings can move apart. Even so, a shock rarely lands on one name alone. Read the figures as a floor on the damage, never a ceiling.
The research behind the construction
Tokenized equity execution is not open yet
Single stocks route through Dinari and ETF coverage through Backed Finance, settling on the EVM rail once identity checks clear. The execution surface for this family arrives with the next release. Composition, weights and the measured record above are current.