options

Asset Allocation

Position	Category/Sector	Target Weight
ARCT Arcturus Therapeutics Holdings Inc.	Healthcare	3.45%
ASST Asset Entities Inc. Class B Common Stock	Communication Services	3.45%
BITF Bitfarms Ltd.	Financial Services	3.45%
CAPR Capricor Therapeutics, Inc.	Healthcare	3.45%
CCCC C4 Therapeutics, Inc.	Healthcare	3.45%
CD Chaince Digital Holdings Inc	Financial Services	3.45%
CIFR Cipher Mining Inc.	Financial Services	3.45%
CNTA Centessa Pharmaceuticals Limited	Healthcare	3.45%
ENTA Enanta Pharmaceuticals, Inc.	Healthcare	3.45%
KPTI Karyopharm Therapeutics Inc.	Healthcare	3.45%
MBX MBX Biosciences, Inc	Healthcare	3.45%
MLTX MoonLake Immunotherapeutics	Healthcare	3.45%
NFE New Fortress Energy Inc.	Utilities	3.45%
OKLO Oklo Inc.	Utilities	3.45%
OMER Omeros Corporation	Healthcare	3.45%
OPAD Offerpad Solutions Inc.	Real Estate	3.45%
OPEN Opendoor Technologies Inc.	Real Estate	3.45%
QUBT Quantum Computing, Inc.	Technology	3.45%
QURE uniQure N.V.	Healthcare	3.45%
QVCGA QVC Group Inc	Consumer Cyclical	3.45%
RGTI Rigetti Computing Inc	Technology	3.45%
SES SES AI Corp	Consumer Cyclical	3.45%
SKYE Skye Bioscience, Inc	Healthcare	3.45%
SOC Sable Offshore Corp	Energy	3.45%
SOGP Lizhi Inc	Communication Services	3.45%
SRRK Scholar Rock Holding Corporation	Healthcare	3.45%
UP Wheels Up Experience Inc.	Industrials	3.45%
VOR Vor Biopharma Inc.	Healthcare	3.45%
WOLF Wolfspeed, Inc.	Technology	3.45%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in options , comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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The earliest data available for this chart is Sep 29, 2025, corresponding to the inception date of WOLF

Returns By Period

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.11%	-3.43%	-3.84%	-1.98%	16.08%	16.86%	10.37%	12.29%
Portfolio options	1.84%	-1.08%	-6.29%	-10.63%	—	—	—	—
Portfolio components:
VOR Vor Biopharma Inc.	3.80%	20.74%	38.00%	-50.79%	42.35%	-44.33%	-52.86%	—
WOLF Wolfspeed, Inc.	6.20%	-16.21%	0.34%	-29.24%	—	—	—	—
QURE uniQure N.V.	1.60%	90.03%	-28.29%	-68.51%	61.58%	-5.28%	-12.84%	2.58%
MLTX MoonLake Immunotherapeutics	5.08%	-1.87%	31.71%	132.71%	-54.38%	-5.57%	11.09%	—
ASST Asset Entities Inc. Class B Common Stock	-4.04%	17.05%	-33.94%	-81.67%	-11.36%	-55.94%	—	—
SKYE Skye Bioscience, Inc	4.98%	-5.15%	-6.90%	-84.45%	-51.19%	-42.90%	-52.53%	-42.19%
SOGP Lizhi Inc	13.92%	29.72%	51.38%	-8.91%	768.01%	37.80%	-27.29%	—
NFE New Fortress Energy Inc.	-2.36%	-52.10%	-50.00%	-73.49%	-93.35%	-72.99%	-57.94%	—
MBX MBX Biosciences, Inc	2.17%	8.02%	4.60%	96.96%	373.31%	—	—	—
QVCGA QVC Group Inc	-7.62%	-39.75%	-81.45%	-86.62%	-79.32%	-65.99%	-67.27%	-44.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Sep 30, 2025, options 's average daily return is -0.01%, while the average monthly return is -0.90%.

Historically, 50% of months were positive and 50% were negative. The best month was Dec 2025 with a return of +9.3%, while the worst month was Nov 2025 at -6.4%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.

On a daily basis, options closed higher 53% of trading days. The best single day was Dec 3, 2025 with a return of +18.7%, while the worst single day was Oct 22, 2025 at -7.7%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	1.17%	-4.75%	-4.70%	2.04%									-6.29%
2025									1.62%	-5.49%	-6.38%	9.29%	-1.72%

Benchmark Metrics

options has an annualized alpha of 1.80%, beta of 2.40, and R² of 0.34 versus S&P 500 Index. Calculated based on daily prices since September 30, 2025.

This portfolio participated in 14.40% of S&P 500 Index downside but only -129.14% of its upside — more exposed to losses than it benefited from rallies.
R² of 0.34 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.

Alpha: 1.80%

Beta: 2.40

R²: 0.34

Upside Capture: -129.14%

Downside Capture: 14.40%

Expense Ratio

options has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Return / Risk — by metrics

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
VOR Vor Biopharma Inc.	61	0.23	2.02	1.29	0.52	0.78
WOLF Wolfspeed, Inc.	—	—	—	—	—	—
QURE uniQure N.V.	69	0.22	2.86	1.44	0.84	1.62
MLTX MoonLake Immunotherapeutics	37	-0.47	0.90	1.22	-0.58	-0.94
ASST Asset Entities Inc. Class B Common Stock	61	-0.02	4.29	1.45	-0.06	-0.08
SKYE Skye Bioscience, Inc	26	-0.41	0.20	1.03	-0.57	-0.90
SOGP Lizhi Inc	97	2.66	5.68	1.68	11.10	16.82
NFE New Fortress Energy Inc.	10	-0.61	-1.18	0.85	-0.99	-1.25
MBX MBX Biosciences, Inc	96	2.78	3.99	1.47	10.13	22.16
QVCGA QVC Group Inc	19	-0.47	0.06	1.01	-0.89	-1.48

Sharpe Ratio

There isn't enough data available to calculate the Sharpe ratio for options . This metric is based on the past 12 months of trading data. Please check back later for updated information.

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Dividends

Dividend yield

options provided a 0.20% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020
Portfolio	0.20%	0.30%	0.07%	0.36%	0.03%	0.62%	1.43%
Portfolio components:
VOR Vor Biopharma Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WOLF Wolfspeed, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QURE uniQure N.V.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLTX MoonLake Immunotherapeutics	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ASST Asset Entities Inc. Class B Common Stock	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SKYE Skye Bioscience, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOGP Lizhi Inc	5.69%	8.61%	0.00%	0.00%	0.00%	0.00%	0.00%
NFE New Fortress Energy Inc.	0.00%	0.00%	1.98%	10.46%	0.94%	1.66%	0.37%
MBX MBX Biosciences, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QVCGA QVC Group Inc	0.00%	0.00%	0.00%	0.00%	0.00%	16.45%	41.02%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the options . A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the options was 30.21%, occurring on Nov 20, 2025. Recovery took 36 trading sessions.

The current options drawdown is 19.39%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-30.21%	Oct 16, 2025	26	Nov 20, 2025	36	Jan 14, 2026	62
-27.66%	Jan 15, 2026	51	Mar 30, 2026	—	—	—
-5.94%	Oct 10, 2025	1	Oct 10, 2025	3	Oct 15, 2025	4
-1.66%	Oct 1, 2025	1	Oct 1, 2025	1	Oct 2, 2025	2
-1.56%	Oct 7, 2025	1	Oct 7, 2025	2	Oct 9, 2025	3

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 29 assets, with an effective number of assets of 29.00, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	Benchmark	NFE	SOC	QVCGA	KPTI	CNTA	MBX	QURE	CAPR	CD	SKYE	MLTX	SOGP	VOR	OMER	WOLF	ENTA	ARCT	SRRK	UP	OPEN	ASST	OPAD	CCCC	OKLO	BITF	CIFR	SES	RGTI	QUBT	Portfolio
Benchmark	1.00	0.08	0.11	0.22	0.28	0.22	0.16	0.22	0.24	0.24	0.16	0.26	0.32	0.22	0.19	0.39	0.35	0.36	0.33	0.25	0.50	0.40	0.48	0.37	0.50	0.47	0.47	0.42	0.39	0.41	0.63
NFE	0.08	1.00	0.09	0.08	0.01	0.06	-0.00	-0.04	0.28	0.10	0.11	0.04	0.07	0.04	0.08	0.12	0.08	0.12	0.00	0.12	0.08	0.16	0.09	0.07	0.13	0.23	0.23	0.14	0.12	0.18	0.26
SOC	0.11	0.09	1.00	0.22	0.02	-0.04	0.06	0.01	0.08	0.03	-0.03	0.09	0.12	0.03	0.09	0.06	0.09	0.15	0.11	0.05	0.22	0.10	0.15	-0.04	0.14	0.11	0.14	0.18	0.20	0.22	0.23
QVCGA	0.22	0.08	0.22	1.00	0.02	0.06	0.01	0.07	0.09	-0.06	-0.05	0.07	0.18	0.04	0.10	0.12	0.16	0.24	0.11	0.18	0.08	0.14	0.20	0.00	0.12	0.10	0.09	0.14	0.13	0.13	0.22
KPTI	0.28	0.01	0.02	0.02	1.00	0.25	0.03	0.10	-0.01	0.20	0.06	0.08	-0.00	0.16	0.24	0.14	0.22	0.19	0.19	0.22	0.19	0.09	0.32	0.29	0.21	0.21	0.21	0.15	0.09	0.16	0.34
CNTA	0.22	0.06	-0.04	0.06	0.25	1.00	0.25	0.17	0.09	0.25	0.06	0.17	0.13	0.16	0.26	0.23	0.30	0.13	0.39	0.13	0.13	0.05	0.19	0.30	0.08	0.06	0.08	0.04	0.16	0.21	0.32
MBX	0.16	-0.00	0.06	0.01	0.03	0.25	1.00	0.27	0.25	0.08	0.23	0.07	0.20	0.20	0.31	0.11	0.35	0.18	0.38	0.08	-0.08	0.26	0.05	0.33	0.10	0.06	0.15	0.13	0.19	0.19	0.34
QURE	0.22	-0.04	0.01	0.07	0.10	0.17	0.27	1.00	0.39	-0.11	0.20	0.23	0.05	0.24	0.20	0.20	0.27	0.14	0.30	0.10	0.08	0.08	0.12	0.31	0.07	0.13	0.10	0.24	0.17	0.16	0.34
CAPR	0.24	0.28	0.08	0.09	-0.01	0.09	0.25	0.39	1.00	0.04	0.21	0.05	0.09	0.12	0.30	0.20	0.29	0.23	0.26	0.21	0.10	0.15	0.03	0.27	0.12	0.16	0.13	0.19	0.12	0.14	0.32
CD	0.24	0.10	0.03	-0.06	0.20	0.25	0.08	-0.11	0.04	1.00	0.15	0.07	0.12	0.19	0.18	0.20	0.17	0.09	0.29	0.29	0.24	0.21	0.29	0.18	0.16	0.21	0.27	0.20	0.26	0.30	0.35
SKYE	0.16	0.11	-0.03	-0.05	0.06	0.06	0.23	0.20	0.21	0.15	1.00	0.17	0.10	0.25	0.18	0.21	0.04	0.29	0.18	0.15	0.18	0.37	0.19	0.35	0.26	0.22	0.16	0.21	0.26	0.32	0.35
MLTX	0.26	0.04	0.09	0.07	0.08	0.17	0.07	0.23	0.05	0.07	0.17	1.00	0.20	0.31	0.14	0.20	0.16	0.09	0.34	0.17	0.27	0.19	0.28	0.16	0.27	0.19	0.23	0.26	0.27	0.24	0.40
SOGP	0.32	0.07	0.12	0.18	-0.00	0.13	0.20	0.05	0.09	0.12	0.10	0.20	1.00	0.21	0.10	0.04	0.18	0.40	0.30	0.20	0.20	0.28	0.18	0.17	0.21	0.24	0.27	0.33	0.27	0.37	0.39
VOR	0.22	0.04	0.03	0.04	0.16	0.16	0.20	0.24	0.12	0.19	0.25	0.31	0.21	1.00	0.20	0.19	0.34	0.25	0.25	0.24	0.21	0.23	0.27	0.29	0.21	0.15	0.13	0.21	0.27	0.30	0.43
OMER	0.19	0.08	0.09	0.10	0.24	0.26	0.31	0.20	0.30	0.18	0.18	0.14	0.10	0.20	1.00	0.24	0.48	0.22	0.40	0.16	0.16	0.29	0.17	0.33	0.14	0.27	0.23	0.27	0.26	0.27	0.47
WOLF	0.39	0.12	0.06	0.12	0.14	0.23	0.11	0.20	0.20	0.20	0.21	0.20	0.04	0.19	0.24	1.00	0.30	0.20	0.16	0.25	0.28	0.17	0.21	0.32	0.34	0.32	0.39	0.24	0.38	0.34	0.48
ENTA	0.35	0.08	0.09	0.16	0.22	0.30	0.35	0.27	0.29	0.17	0.04	0.16	0.18	0.34	0.48	0.30	1.00	0.25	0.43	0.11	0.10	0.13	0.11	0.41	0.13	0.25	0.21	0.25	0.24	0.21	0.44
ARCT	0.36	0.12	0.15	0.24	0.19	0.13	0.18	0.14	0.23	0.09	0.29	0.09	0.40	0.25	0.22	0.20	0.25	1.00	0.23	0.29	0.17	0.33	0.25	0.27	0.22	0.26	0.26	0.32	0.36	0.36	0.45
SRRK	0.33	0.00	0.11	0.11	0.19	0.39	0.38	0.30	0.26	0.29	0.18	0.34	0.30	0.25	0.40	0.16	0.43	0.23	1.00	0.30	0.15	0.26	0.19	0.38	0.14	0.16	0.14	0.31	0.27	0.23	0.47
UP	0.25	0.12	0.05	0.18	0.22	0.13	0.08	0.10	0.21	0.29	0.15	0.17	0.20	0.24	0.16	0.25	0.11	0.29	0.30	1.00	0.36	0.36	0.31	0.23	0.42	0.42	0.43	0.36	0.38	0.39	0.52
OPEN	0.50	0.08	0.22	0.08	0.19	0.13	-0.08	0.08	0.10	0.24	0.18	0.27	0.20	0.21	0.16	0.28	0.10	0.17	0.15	0.36	1.00	0.37	0.62	0.24	0.53	0.40	0.41	0.40	0.47	0.47	0.50
ASST	0.40	0.16	0.10	0.14	0.09	0.05	0.26	0.08	0.15	0.21	0.37	0.19	0.28	0.23	0.29	0.17	0.13	0.33	0.26	0.36	0.37	1.00	0.47	0.35	0.38	0.42	0.38	0.35	0.41	0.45	0.56
OPAD	0.48	0.09	0.15	0.20	0.32	0.19	0.05	0.12	0.03	0.29	0.19	0.28	0.18	0.27	0.17	0.21	0.11	0.25	0.19	0.31	0.62	0.47	1.00	0.34	0.49	0.39	0.38	0.39	0.46	0.48	0.53
CCCC	0.37	0.07	-0.04	0.00	0.29	0.30	0.33	0.31	0.27	0.18	0.35	0.16	0.17	0.29	0.33	0.32	0.41	0.27	0.38	0.23	0.24	0.35	0.34	1.00	0.28	0.33	0.35	0.35	0.41	0.38	0.58
OKLO	0.50	0.13	0.14	0.12	0.21	0.08	0.10	0.07	0.12	0.16	0.26	0.27	0.21	0.21	0.14	0.34	0.13	0.22	0.14	0.42	0.53	0.38	0.49	0.28	1.00	0.63	0.62	0.65	0.67	0.62	0.65
BITF	0.47	0.23	0.11	0.10	0.21	0.06	0.06	0.13	0.16	0.21	0.22	0.19	0.24	0.15	0.27	0.32	0.25	0.26	0.16	0.42	0.40	0.42	0.39	0.33	0.63	1.00	0.82	0.61	0.61	0.62	0.68
CIFR	0.47	0.23	0.14	0.09	0.21	0.08	0.15	0.10	0.13	0.27	0.16	0.23	0.27	0.13	0.23	0.39	0.21	0.26	0.14	0.43	0.41	0.38	0.38	0.35	0.62	0.82	1.00	0.62	0.61	0.62	0.67
SES	0.42	0.14	0.18	0.14	0.15	0.04	0.13	0.24	0.19	0.20	0.21	0.26	0.33	0.21	0.27	0.24	0.25	0.32	0.31	0.36	0.40	0.35	0.39	0.35	0.65	0.61	0.62	1.00	0.63	0.60	0.66
RGTI	0.39	0.12	0.20	0.13	0.09	0.16	0.19	0.17	0.12	0.26	0.26	0.27	0.27	0.27	0.26	0.38	0.24	0.36	0.27	0.38	0.47	0.41	0.46	0.41	0.67	0.61	0.61	0.63	1.00	0.87	0.71
QUBT	0.41	0.18	0.22	0.13	0.16	0.21	0.19	0.16	0.14	0.30	0.32	0.24	0.37	0.30	0.27	0.34	0.21	0.36	0.23	0.39	0.47	0.45	0.48	0.38	0.62	0.62	0.62	0.60	0.87	1.00	0.73
Portfolio	0.63	0.26	0.23	0.22	0.34	0.32	0.34	0.34	0.32	0.35	0.35	0.40	0.39	0.43	0.47	0.48	0.44	0.45	0.47	0.52	0.50	0.56	0.53	0.58	0.65	0.68	0.67	0.66	0.71	0.73	1.00

The correlation results are calculated based on daily price changes starting from Sep 30, 2025