{
  "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/size",
  "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 Risk Weighted index, SIZE's index at launch), and 'Tilts towards these factors such as Value, Low Size, and Momentum historically produced excess long-term returns'."
}