Quality Income 7
Calibrated launch value from the rulebook. The live reading, the chart and the order panel sit on the desk.
Buy OQUAL7Why 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.
Quality factor applied across asset classes. Microsoft, Broadcom and Eli Lilly are US blue-chips with durable cash flows. BTC and ETH for the crypto exposure. Gold for the macro hedge. SPY for the safety net. Backtested Sharpe 1.18 over 729 days, total return +49.5%, max drawdown -22.9%, correlation to BTC -0.08. The MSCI Quality analog for the on-chain era.
- Diversified family · Conservative 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.
7 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 | |
|---|---|---|---|
| 01GLDon | 20% | ||
| 02BTC | 15% | ||
| 03SPYon | 15% | ||
| 04MSFTon | 14% | ||
| 05AVGOon | 12% | ||
| 06ETH | 12% | ||
| 07LLYon | 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.
- GLDon20%Hedge
SPDR Gold Shares is the largest gold ETF and the cleanest tokenized expression of an institutional gold position.
Performs in flight-to-quality, inflation-up, and dollar-weakness or central-bank-buying cycles.
correlation dilution if duration sells off - BTC15%Core anchor
Bitcoin is the only crypto asset that clears the institutional bar on every dimension: deepest order books, longest track record, lowest custody friction.
Strongest in flight-to-quality and pro-risk macro phases when liquidity is abundant. Underperforms in altcoin rotations and AI-narrative cycles.
concentration risk - SPYon15%Core anchor
SPDR S&P 500 ETF Trust is the largest US equity ETF and the canonical broad-market index.
Performs in broad-equity-up regimes. Sensitive to sector concentration in Mag 7 names that drives a non-trivial share of the index.
Mag 7 concentration - MSFTon14%Core anchor
Microsoft is the dominant enterprise-software franchise and the largest beneficiary of the AI-software margin pool through Azure and the OpenAI partnership.
Performs in enterprise-AI narrative phases. Defensive in flight-to-quality regimes. Sensitive to cloud-margin compression news.
AI-capex margin compression - AVGOon12%Core anchor
Broadcom is the second-largest US chip franchise by market cap and the dominant custom-ASIC vendor for hyperscaler workloads.
Performs in AI-capex cycles and hyperscaler ASIC ramps. Sensitive to VMware-integration noise and enterprise-software cycle softness.
VMware integration risk
Show the remaining 2 holdings
- ETH12%Core anchor
Ethereum is the only smart-contract platform with the TVL, developer mindshare, and settlement depth to count as core infrastructure.
Outperforms BTC in DeFi cycles and L2 adoption waves. Lags when narratives shift to alt-L1s or when L2 fragmentation eats into mainnet fee capture.
fee-revenue regime risk - LLYon12%Hedge
Eli Lilly is the GLP-1 obesity-drug leader and the single most valuable pharma franchise by market cap.
Performs in defensive rotation and obesity-narrative cycles. Lower correlation to tech and crypto beta.
GLP-1 competitive pressure
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. OQUAL7 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 | +222.6% | 1.36 | +1.01 |
| 1 year | +20.0% | 1.15 | +1.98 |
| 6 months | −4.0% | −0.44 | +0.24 |
| 3 months | +8.1% | 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 are bounded relative to the broader crypto market. Constituent caps and liquidity filters contain concentration risk. Full risk parameters live in the methodology rulebook.
- Short price historyHigh
MSFTon, AVGOon, LLYon 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 |
|---|---|
| GLDon loses half its valueLargest holding, 20.0% of the basket | −10.0%Mechanical |
| The three largest holdings fall 30%GLDon, BTC, SPYon · 50.0% of the basket together | −15.0%Mechanical |
| The deepest simulated fall repeatsDeepest peak to trough in the measured window | −22.9%Recorded |
| A bad month, one in twenty95% historical value at risk over 30 days | −9.2%Measured |
The mechanical rows hold every other holding still, which is the optimistic case. This basket measured −0.08 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
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The desk carries the live net asset value, the chart and the order panel. Funds in this public preview are simulated, so an order here moves a simulated balance and settles nothing. The EVM settlement rail opens with mainnet in the first half of 2027.