{
  "objective": "reduce_drawdown",
  "max_return_shortfall_annual": 0.01,
  "benchmark": "buy-and-hold SPY",
  "declared_at_utc": "2026-09-26T15:59:15Z",
  "declared_by": "holdout-labs-smartbeta-1/splv",
  "source_claim": "S&P DJI (2011-12): 'a diversified equity index that, in back-tested results, has out-performed the S&P 500 over the near, medium, and long term, with less volatility'; 'how can I potentially reduce equity risk while preserving the long term return advantages that stocks generally provide?'"
}