T
he TipRanks Smart Score's past performance is based on hypothetical results from historical data. These results are not a guarantee of future success and don't reflect actual investor returns. They're calculated by applying a model to past market conditions, assuming certain factors that may or may not be realistic.

    Key assumptions include the ability to buy recommended securities and sufficient market liquidity for all trades. Changing these assumptions can significantly impact the reported returns. Some assumptions are unlikely to occur in reality, and no guarantees are made about their reasonableness.

    This information is provided for illustration purposes only and has inherent limitations. Backtested results don't account for actual trading or real-world economic factors that influence decision-making. Trades haven't been executed, so results may over- or under-compensate for market factors like liquidity issues.

    Backtesting also allows the methodology to be adjusted until optimal past returns are achieved, which can lead to significantly different actual performance. Results are presented gross-of fees and don't include transaction costs, management fees, or expenses that would apply in real-world scenarios. Regulatory considerations regarding fee presentation must be taken into account.