Deposit-Funded Lending Franchises

Own banks whose core businesses gather deposits and extend credit, spanning established branch networks and digital banking platforms rather than brokers or payment processors. The technology-led drawdown makes bank earnings and credit fundamentals a differentiated source of exposure, while the supplied valuations for Citigroup and Bank of America support a selective entry. Credit losses, funding competition and interest-margin pressure remain the central risks. Launch basket (equal weight): JPM, BAC, WFC, C, NU, SOFI, RY Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.