Everyday Connectivity, Care & Energy

Lionheart R.J.’s thesis

The technology drawdown alongside resilient breadth suggests a late-cycle slowdown risk, not conclusive evidence of recession. This basket diversifies essential demand across connectivity subscriptions, healthcare, regulated electricity and petroleum supply, reducing dependence on the AI capital-spending cycle. Healthcare and utility demand provide defensive exposure, while oil producers offer sensitivity to inflationary supply shocks. Equal weighting cannot deliver risk parity, and these equiti