Buy the idea.
Not just the ticker.
THEMES turns tokenized stocks into ten equal weight indices, from AI chips to nuclear power, and tracks each one against the S&P 500.
Every idea gets its own index.
Ten ideas, each a basket of five or six tokenized stocks.
Every theme starts at 100 one year ago, with equal weights.
Each index is drawn against the S&P 500, so you see if the idea beat the market.
Click any member to see how many points it added or took away.
AI Chips +187.3% in a year. The S&P 500: +15.4%.
- Index level
- 287.3
- Ahead of the S&P 500
- +171.9 pts
- Top contributor, MU
- +90.5 pts
The theme leaderboard.
1 of 10 beat the market over the year.
Switch the period to rerank every theme. The S&P 500 sits in the list as the yardstick. Click a theme to open it in the explorer.
AI ChipsNVDA AMD AVGO TSM MU MRVL287.3+187.3%
GLP-1 and ObesityLLY NVO AMGN VKTX HIMS112.4+12.4%
Big BanksJPM BAC C WFC GS MS111.5+11.5%
StreamingNFLX SPOT DIS WBD ROKU106.8+6.8%
DefenseLMT RTX NOC GD LHX97.2-2.8%
AI SoftwareMSFT GOOGL META ORCL PLTR CRM96.7-3.3%
Clean EnergyNEE FSLR ENPH RUN SEDG PLUG78.5-21.5%
Crypto StocksCOIN HOOD MSTR CRCL MARA RIOT71.5-28.5%
Nuclear PowerCCJ LEU CEG VST SMR OKLO58.0-42.0%
Electric VehiclesTSLA RIVN LCID NIO XPEV57.3-42.7%A stock tells you about a company. A theme tells you about the market.
Ten themes.
Copy any of them.
Every theme is equal weight and built from stocks that exist as tokens. Leaders and laggards are the members that did best and worst this month. Micron alone added 90.5 pts to AI Chips over the year.
The companies that design, build and feed memory to the chips AI runs on.
- 1W
- -0.3%
- 1M
- +10.9%
- 3M
- -1.9%
- YTD
- +136.3%
- 1Y
- +187.3%
AMD+27.5%
Micron+12.7%Broadcom-5.9%Nvidia+0.4%Clouds, models and apps selling AI to businesses and consumers.
- 1W
- -2.3%
- 1M
- +0.9%
- 3M
- +22.5%
- YTD
- -1.2%
- 1Y
- -3.3%
Meta+25.3%
Palantir+0.8%
Oracle-12.7%
Salesforce-9.8%Weight loss drugs, from the two market leaders to the challengers and the telehealth seller.
- 1W
- +3.7%
- 1M
- -4.6%
- 3M
- -6.0%
- YTD
- +2.1%
- 1Y
- +12.4%
Eli Lilly+0.7%
Viking Therapeutics-2.5%Novo Nordisk-16.3%
Hims and Hers-9.1%Uranium, fuel, new reactor designs and the utilities that run nuclear plants.
- 1W
- -5.1%
- 1M
- -14.1%
- 3M
- -14.2%
- YTD
- -26.2%
- 1Y
- -42.0%
Vistra-1.3%Constellation Energy-7.8%Centrus Energy-27.9%
NuScale Power-18.8%The five largest US defense contractors: jets, missiles, ships and satellites.
- 1W
- -4.0%
- 1M
- -9.9%
- 3M
- -3.3%
- YTD
- -4.1%
- 1Y
- -2.8%
Northrop Grumman-7.2%Lockheed Martin-8.4%
General Dynamics-12.1%RTX-11.5%Exchanges, a stablecoin issuer, a bitcoin treasury and miners that move with crypto.
- 1W
- -7.9%
- 1M
- +2.4%
- 3M
- +2.0%
- YTD
- +16.5%
- 1Y
- -28.5%
Strategy+14.4%Robinhood+6.1%
Circle-9.0%Coinbase+0.6%Pure electric carmakers in the US and China.
- 1W
- -4.3%
- 1M
- -10.7%
- 3M
- -19.1%
- YTD
- -33.8%
- 1Y
- -42.7%
Tesla+0.7%Rivian-12.0%Lucid-23.4%
NIO-17.7%The six largest US banks, from consumer lending to trading desks.
- 1W
- -4.7%
- 1M
- -7.1%
- 3M
- -5.7%
- YTD
- +3.0%
- 1Y
- +11.5%
Citigroup-1.0%
Wells Fargo-4.9%
Goldman Sachs-12.0%
Morgan Stanley-9.9%Solar panels, inverters, home solar, fuel cells and the largest renewable utility.
- 1W
- -10.5%
- 1M
- -14.7%
- 3M
- -31.9%
- YTD
- -18.5%
- 1Y
- -21.5%
SolarEdge-5.9%NextEra Energy-9.6%Enphase-21.2%
Plug Power-18.1%Video and music streaming, from the services to the screen they play on.
- 1W
- -1.1%
- 1M
- -1.3%
- 3M
- +8.8%
- YTD
- +3.1%
- 1Y
- +6.8%
Warner Bros Discovery+7.0%Disney-1.2%Netflix-13.3%Spotify-5.6%How an idea becomes a line.
Four small steps. You could follow along in a spreadsheet and get the same numbers.
Read the docs- Closing prices
One year of prices for every member and for SPY, refreshed after every US market close.
- Equal start
One year ago every member gets the same share of its theme.
- Index level
The theme's value rebased to 100. At 150 it has gained half.
- Contribution
Each member's share of the move. The pieces add up to the theme's return.