Resolve BACK if, by 2026-07-04 20:00 UTC, the named market data source shows Xle outperforming xlu on percent return over the review window; otherwise resolve FADE.
FADE — other outcome: The published FADE condition is met.
Positions close: Jul 3, 2026, 8:00 PM UTC
No verified current price reference is attached. Do not treat this illustration or headline as live data.
Editorial illustration
Legacy terms: no immutable publication-time snapshot is attached. If stored wording, structured terms or measurement windows conflict, this market requires manual review; a later display change does not rewrite the agreement.
Research quality and completeness vary. Missing evidence is explicitly marked below.
▲ Back case
Incomplete research: a developed BACK case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ Fade case
Incomplete research: a developed FADE case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ FADE settlement condition
XLE does not post a higher percent return than XLU over the same window.
⊕ What would void
Void if either XLE or XLU is missing a usable public reference at settlement.
Resolution path
Published
Jul 1, 2026, 1:10 PM UTC
Research verification
No independent research review is recorded.
Scheduled opening
Jul 1, 2026, 1:10 PM UTC
Pools close
Jul 3, 2026, 8:00 PM UTC
Resolution
Jul 4, 2026, 8:02 PM UTC
Stored historical terms & technical evidence
Stored historical wording
Use https://finance.yahoo.com/quote/XLE/history/ as the source of truth. Read the daily close or reference spot price through 2026-07-04 20:00 UTC. Settlement closes at 2026-07-03 20:00 UTC and resolves at 2026-07-04 20:00 UTC. Resolve BACK when XLE posts a higher percent return than XLU between the market-open reference and the resolve reference. Resolve FADE when XLE does not post a higher percent return than XLU…
Stored structured settlement terms
Legacy record: structured terms as stored. No immutable publication-time snapshot is attached; these records alone do not establish the exact terms served.
BACK condition
XLE posts a higher percent return than XLU between the market-open reference and the resolve reference.
FADE condition
XLE does not post a higher percent return than XLU over the same window.
VOID condition
Void if either XLE or XLU is missing a usable public reference at settlement.
Source field / metric
daily close or reference spot price / percent return over the review window
Direction / threshold
outperform / Not specified
Stored window
through 2026-07-03 20:00 UTC · opens 2026-07-01T13:10:09.822Z · closes 2026-07-03T20:00:00.000Z · administrative resolve 2026-07-04T20:00:00.000Z
structured_scanner
relative_performance_v1
Recorded outcome evidence
FADE · recorded 2026-07-04T20:02:32.014Z · Resolution a476f5c7-9edb-41cb-90f2-d6ef5ff24ac3
Resolver rationale and source record
Operator note: resolved FADE despite zero positions because this thesis remains part of the public record and should settle transparently against its published rule. Source checked: https://finance.yahoo.com/quote/XLE/history/. No payouts were required.
primary: Yahoo Finance XLE and XLU closes · used · check time unrecorded Opening reference 53.11 at 2026-06-30T20:00:00.000Z; settlement reference 53.220001220703125 at 2026-07-02.
fallback: XLU comparison source · supporting · check time unrecorded Comparison opening reference 45.34 at 2026-06-30T20:00:00.000Z; settlement reference 45.7599983215332 at 2026-07-02.
Settlement mode: deterministic.
Primary source: Yahoo Finance XLE and XLU closes (https://finance.yahoo.com/quote/XLE/history/).
