T
he TipRanks Smart Score's past performance is based on simulated results from historical data. These simulations are not a guarantee of future success and do not reflect actual investor returns. The model used to generate these results assumes that investors could have executed trades as recommended, with sufficient market liquidity to facilitate all transactions. However, changes in these assumptions can significantly impact the reported returns.

    Certain modeling assumptions may not be realistic or testable, and no guarantees are made regarding their reasonableness. This information is provided for illustration purposes only, and actual trading results may differ from simulated outcomes. Backtesting allows for adjustments to be made until optimal past returns are achieved, but this does not necessarily translate to future performance.

    Backtested results include the reinvestment of dividends and other income, presented gross-of fees, without accounting for transaction costs, management fees, or expenses. Regulatory considerations regarding fee presentation must be taken into account. Cash balances and cash flows are also excluded from calculations.