{
  "objective": "beat_benchmark",
  "max_return_shortfall_annual": null,
  "benchmark": "buy-and-hold SPY",
  "declared_at_utc": "2026-09-26T15:59:15Z",
  "declared_by": "holdout-labs-smartbeta-1/mtum",
  "source_claim": "MSCI (2013): 'All the MSCI World Factor Indexes shown in Exhibit 11 outperform the MSCI World Index over the period shown, June 1988 to June 2013' (Exhibit 11 includes the Momentum index), and 'The MSCI Momentum and MSCI Quality Indexes historically exhibited the strongest historical returns'."
}