Skip to content
QUARTERQuarter
ConservativeStability first

Defensive Income

A defensive composition spanning the DEC 2026 and MAR 2027 legs. Constituents are selected for distribution stability rather than headline yield, which produces the highest cash-flow score of any basket on the protocol.

Indicative price
$101.72

per unit

Implied yield
3.01%

annualised

Next distribution
25 days

Sep 26, 2026

Cash-flow stability
89

Stability 91 / 100

Under composition
$940.0K

5 constituents

24h change
+0.12%

indicative

Constituents and weights

Basket constituents with weight, maturity, implied yield and contribution to basket yield.
ConstituentWeightMaturityImplied yieldContribution
JNJ
Johnson & Johnson
22.0%DEC 263.06%0.67%
PG
The Procter & Gamble Company
22.0%DEC 262.44%0.54%
KO
The Coca-Cola Company
20.0%MAR 272.90%0.58%
PEP
PepsiCo, Inc.
18.0%MAR 273.62%0.65%
MRK
Merck & Co., Inc.
18.0%DEC 263.18%0.57%
Weighted basket yield3.01%

Constituents with a listed COUPON strip link to their market terminal. Names without a listed strip are held through the composition only.

Distribution history

Distribution per unit over the trailing eight quarters.

$0.00$0.20$0.40$0.60$0.80$1.00Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26Q2 26Q3 26
Expected next distribution$0.72 – $0.83

Distribution schedule

Expected distributions from Sep 1, 2026 forward.

  1. Q3 26
    Sep 26, 2026
    $0.77 per unit
  2. Q4 26
    Dec 26, 2026
    $0.77 per unit
  3. Q1 27
    Mar 26, 2027
    $0.77 per unit
  4. Q2 27
    Jun 26, 2027
    $0.77 per unit

Amounts are expectations derived from declared and implied constituent distributions. Actual settlement uses the verified normalized amount.

How this basket behaves

Composition risk

Constituents have long records of non-decreasing declarations, which produces a stable distribution profile.

Settlement

Each constituent claim settles against its own verified normalized amount. The basket distributes the aggregate to unit holders on the payment date.

Corporate actions

Splits rescale constituent quantities without changing composition value. A held oracle delays that constituent's settlement, not the whole basket.

Liquidity

Units are created and redeemed against the composition. Redemption at short notice can price below the indicative unit value in thin conditions.