FOIL-CL50
The CL50 Index
The fifty cards the market already watches, held as one position.
Testing interest
Indicative figures
- Indicative NAV
- $10.54
- 1 day
- +1.3%
- 30 day
- −2.4%
- 12 month
- +5.7%
- Assets
- 50
Illustrative data. Figures shown are hypothetical, generated for demonstration, and do not represent any actual portfolio, holding, valuation or performance.
Positioning
A portfolio tracking the fifty constituents of Card Ladder's published CL50 list — the cards the market has already converged on as its benchmark. Foil is not affiliated with Card Ladder; the list and its sale data are theirs, and any use of them in a live product would run under licence.
- The constituent list is public, documented and maintained by a third party, so selection is not Foil's discretion dressed up as method.
- Every constituent has a dense recorded sale history, which is the condition a daily indicative valuation actually depends on.
- The list spans categories and eras, so the portfolio is not a bet on one sport's cycle.
Intended portfolio composition
| Theme | Era | Grade band | Weight |
|---|---|---|---|
| Marquee basketball rookies | Modern | PSA 9-10 | 13.6% |
| Post-war baseball icons | Vintage | PSA 4-7 | 11.9% |
| First-edition trading card game chase cards | Modern | PSA 9 | 9.4% |
| Quarterback first issues | Contemporary | PSA 10 | 7.7% |
Illustrative holdings. Selections shown are examples of the kinds of assets that could meet documented eligibility criteria. No assets have been acquired and no portfolio has been finalised.
Category allocation
- Basketball: 34.0%
- Baseball: 30.0%
- Football: 22.0%
- Hockey: 10.0%
- Other: 4.0%
Grade distribution
- PSA 10: 42.0%
- PSA 9: 30.0%
- PSA 6-8: 18.0%
- PSA 5 and below: 10.0%
Vintage vs modern
- Vintage (pre-1980): 40.0%
- Modern (1980-2009): 40.0%
- Contemporary (2010-): 20.0%
Index methodology
- Third-party constituent list
- Membership follows Card Ladder's published CL50. Foil does not add, drop or reweight constituents on its own view of a card.
- Reconstitution
- Changes to the source list are applied on a documented schedule rather than on the day they appear, so the portfolio is not trading on every revision.
- Grade matching
- Assets are acquired at the grade the source list prices, because a different grade is a different asset.
Status
- Liquidity score: 8.8 / 10 — illustrative composite of transaction frequency and market depth.
- Valuation confidence: High — Every constituent is priced by the source list on recorded sales, which is the densest evidence available anywhere in the category.
- Legal status: no vehicle formed, no assets held, no offering qualified. See structure and legal.
Risk
- The constituent list is a third party's product. If it changes hands, changes method or stops being published, the index loses its selection rule.
- A benchmark everyone watches is a benchmark everyone trades, which can concentrate flows into the same fifty assets at the same time.
- Diversification does not eliminate investment risk. Collectible assets are illiquid, volatile and may lose value.
- Liquidity is not guaranteed. A daily indicative valuation is not the same as the ability to transact daily, and no secondary market may develop.
- No offering has been qualified. If an offering is ever made, its risk factors will be set out in full in the applicable offering documents, which will supersede this summary.
Documents
Offering documents will be made available if and when an offering is qualified.
- Offering circular — pending
- Index methodology — pending
- Valuation policy — pending
- Custody disclosures — pending
This is not an offer to sell or a solicitation to buy any security. Statements describing Foil's intended structure, products and timelines are forward looking and remain subject to change, to applicable securities laws, and to the determinations of qualified counsel and regulated partners.