OML4 · Thematic

Meme Legacy 4

T3RetiredS 0.03

Reference net asset value

165.80usd

Calibrated launch value from the rulebook. This basket carries no order panel today.

Family

Thematic

Risk profile

Aggressive

Holdings

Weighting

Market cap, 40% cap

Rebalance

Not published

Sharpe grade

0.03

The thesis

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.

Four original meme tokens that survived multiple cycles: DOGE, SHIB, PEPE and FLOKI. Weighted toward DOGE at 40% because it has the longest survival record. A heritage allocation rather than a forward thesis.

ThematicBeta family · Aggressive risk tier
Rule-based, divisor-method NAV

No committee note is published for this basket yet, so the catalogue description above stands in until one is written.

How it is meant to be used

Built forTactical sleeves only. Position size proportional to conviction.

Typical sizing1 to 5% of a crypto sleeve, tactical

Weighting ruleMarket cap, 40% cap

Risk tierAggressive

Composition

4 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.

Weight by area

4 holdings

Largest holding

DOGE 40.0%

The single name that moves net asset value most.

Top three

90.0%

Share of the basket held by its three largest names.

Effective holdings

3.33

Equal weight equivalent of 4 named positions.

Published weights

largest first

Published weights for all 4 holdings, largest first.
Holding	Traded as	Weight
01DOGE	DOGE	40%
02SHIB	SHIB	30%
03PEPE	PEPE	20%
04FLOKI	FLOKI	10%
Total		100%

Holdings

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.

DOGE40%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
SHIB30%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
PEPE20%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
FLOKI10%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.

The record

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.

Backtested record

1216 day window

Sharpe grade

0.03Simulated

Measured over 1216 days against a bitcoin reference of 0.21.

Total return

+8.3%

Across the full window, simulated.

Max drawdown

−87.0%

Deepest peak to trough. 569 days to recover.

Annualised volatility

73.8%

Standard deviation of daily returns, annualised.

Beta vs bitcoin

1.48

Correlation 0.76.

Effective holdings

3.33

Of 4 named. Equal weight equivalent, from the published weights.

Simulated rebalance

Quarterly

Backtest assumption, not a published cadence.

Jensen alpha

−27.9%

Excess over what beta to bitcoin alone explains.

R squared

0.58

Share of the basket's moves bitcoin explains.

Bitcoin reference · Sharpe 0.21 · max drawdown −76.6%

OCBE100 reference · Sharpe 0.34 · max drawdown −61.1%

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. OML4 is part of a public preview.

Loss tail

95% VaR · loss tailhistorical

1-week · 7d−17%

1-month · 30d−30%

Max expected loss over the horizon · 95% confidence · historical distribution. There is a 5% chance the actual loss is larger.

Across timeframes

vs bitcoin

Simulated return for this basket over five windows, with a Sharpe and a comparison with bitcoin wherever the window is long enough to publish one.
Window	Return	Sharpe	vs BTC
Full window	−40.5%	−0.32	−0.76
1 year	−61.1%	−0.98	−0.19
6 months	−0.2%	−0.01	−1.48
3 months	−3.8%	−0.27	−1.36
1 month	+25.7%	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.

Risk

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.

Highly volatile. Expect 50% or deeper drawdowns. Position size proportional to conviction; this is a tactical sleeve, not a buy-and-hold position.

Structural flags

5 on this basket

Single-name concentrationHigh
DOGE carries 40% of the basket. A drawdown in this single name materially moves NAV.
High-beta sleeveHigh
Meme/momentum subcategory. Expect 50%+ drawdowns. Tactical sleeve sizing only.
Elevated volatilityMedium
Backtest annualised vol 74%. See the backtest panel above for the full risk numbers.
Deep historical drawdownHigh
Max drawdown reached −87% in the backtest window. Size accordingly.
Pre-live statusLow
Preview index. NAV is computed but the basket isn't yet open for live allocation.

If it goes wrong

effect on net asset value

4 downside scenarios for this basket, and the loss each one would put on net asset value.
Scenario	Loss on net asset value
DOGE loses half its valueLargest holding, 40.0% of the basket	−20.0%Mechanical
The three largest holdings fall 30%DOGE, SHIB, PEPE · 90.0% of the basket together	−27.0%Mechanical
The deepest simulated fall repeatsRecorded once in the window, 569 days to recover	−87.0%Recorded
A bad month, one in twenty95% historical value at risk over 30 days	−30.0%Measured

The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.76 correlation to bitcoin over its window, so its holdings tend to fall together rather than one at a time. Read the figures as a floor on the damage, never a ceiling.

The research behind the construction

Research

Methodology

Construction rules, weighting and rebalance cadence.

Research

Stress tests

Drawdown behaviour through the 2022, 2023 and 2024 cycles.

Research

Versus bitcoin

How multi asset construction compares with a single asset hold.

This strategy has been shelved

Consolidated into OMM6. OML4 carried four of the same six constituents already in the meme-majors basket and added no incremental cycle-survival signal that OMM6 did not already encode through its market-cap cap. Maintaining both confused the thematic shelf.

Retired 2026-05-24

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