{
  "schema_version": "0.5",
  "snapshot_date": "2026-08-25",
  "audited_source_commit": "817019d466c0424ac026098abc70ef3356dba26e",
  "strategy": {
    "name": "ETF Tilt System",
    "policy_version": "v0.1.0",
    "policy_hash": "3faadabdf71da180",
    "feature_version": "v0.1.0",
    "decisioning_version": "v0.1.0",
    "primary_cadence": "monthly",
    "weekly_behavior": "observe_only"
  },
  "status_legend": {
    "implemented": "Represented in current executable source code",
    "implemented_with_caveat": "Executable behavior exists but a material limitation or contract mismatch prevents an unqualified claim",
    "optional_implementation": "Executable support exists but is not required for every relevant run",
    "specified": "Required by a canonical specification but not itself proof of executable enforcement",
    "proven": "Supported by retained runtime or evaluation evidence",
    "planned": "Not a current capability and must not be presented as one"
  },
  "methodology": {
    "historical_asof_gating": {
      "status": "implemented",
      "source": "ops/pipeline.py"
    },
    "deterministic_allocation_sequence": {
      "status": "implemented",
      "sources": [
        "decisioning/allocator.py",
        "ops/pipeline.py"
      ]
    },
    "regime_composite": {
      "status": "implemented",
      "values": [
        "market_trend",
        "volatility",
        "yield_curve"
      ],
      "trend_definition": "(spy_price / spy_ma200) - 1",
      "missing_or_invalid_ma200_behavior": "neutral_trend_zero",
      "sources": [
        "decisioning/regime_score.py",
        "decisioning/allocator.py",
        "tests/test_allocator_regime_trend_contract.py"
      ]
    },
    "bucket_tilts": {
      "status": "implemented",
      "source": "decisioning/bucket_tilts.py"
    },
    "within_bucket_scoring": {
      "status": "implemented",
      "values": [
        "ret_3m_momentum",
        "dd_12m_drawdown_penalty",
        "softmax_weighting",
        "score_smoothing",
        "asset_caps",
        "churn_controls"
      ],
      "source": "decisioning/within_bucket.py"
    },
    "policy_to_allocator_wiring": {
      "status": "implemented",
      "source": "ops/pipeline.py"
    },
    "portfolio_exposure_caps": {
      "status": "implemented",
      "source": "decisioning/allocator.py"
    },
    "turnover_controls": {
      "status": "implemented",
      "measure": "sum_absolute_portfolio_weight_change",
      "sources": [
        "decisioning/turnover.py",
        "ops/pipeline.py"
      ]
    },
    "fail_closed_integrity_behavior": {
      "status": "implemented",
      "sources": [
        "config/policy.py",
        "ops/pipeline.py"
      ]
    }
  },
  "current_policy_parameters": {
    "generated_snapshot": "generated-policy.json",
    "default_max_single_asset_weight": 0.35,
    "equity_exposure_cap": 0.8,
    "duration_exposure_cap": 0.6,
    "credit_exposure_cap": 0.4,
    "risk_asset_exposure_cap": 0.85,
    "no_trade_band_absolute": 0.01,
    "max_sum_absolute_weight_change_per_rebalance": 0.35,
    "minimum_history_days": 756,
    "maximum_price_staleness_trading_days": 2
  },
  "evaluation": {
    "matched_baseline_timing_and_costs": {
      "status": "implemented",
      "source": "backtest/engine.py"
    },
    "transaction_costs": {
      "status": "implemented",
      "sources": [
        "backtest/costs.py",
        "backtest/engine.py"
      ]
    },
    "timing_and_cost_sensitivity": {
      "status": "implemented",
      "values": [
        "minus_1_trading_day",
        "plus_1_trading_day",
        "2x_cost_stress",
        "3x_cost_stress"
      ],
      "source": "backtest/engine.py"
    },
    "static_60_40_baseline": {
      "status": "implemented",
      "source": "backtest/baselines.py"
    },
    "static_diversified_baseline": {
      "status": "implemented",
      "source": "backtest/baselines.py"
    },
    "simple_trend_baseline": {
      "status": "implemented",
      "source": "backtest/baselines.py"
    },
    "core_risk_and_return_metrics": {
      "status": "implemented",
      "values": [
        "total_return",
        "cagr",
        "volatility",
        "downside_volatility",
        "sharpe",
        "sortino",
        "max_drawdown",
        "turnover",
        "cost_drag",
        "exposure",
        "concentration"
      ],
      "source": "backtest/metrics.py"
    },
    "public_core_metric_subset": {
      "status": "implemented",
      "source": "calculations.py",
      "private_parity_source": "backtest/metrics.py",
      "runtime_dependencies": "python_standard_library_only"
    },
    "public_treasury_cash_benchmark": {
      "status": "implemented",
      "source_data": "data/treasury_bill_2025-06-30.json",
      "calculation_source": "calculations.py",
      "entrypoint": "examples/reproduce_treasury_cash_benchmark.py",
      "publisher": "U.S. Department of the Treasury, Bureau of the Fiscal Service",
      "published_investment_rate_pct": 4.34,
      "reproduced_simple_annualized_rate_pct": 4.3402832297237465,
      "runtime_dependencies": "python_standard_library_only",
      "network_required": false,
      "claim_boundary": "cash_benchmark_calculation_not_strategy_performance"
    },
    "walk_forward_plan_support": {
      "status": "optional_implementation",
      "sources": [
        "backtest/walk_forward.py",
        "backtest/engine.py"
      ],
      "caveat": "BacktestConfig.walk_forward is optional, so not every backtest is necessarily walk-forward validated."
    }
  },
  "known_mismatches": [],
  "public_evidence_state": {
    "long_term_independently_verified_live_track_record": "not_established",
    "proven_superiority_to_simple_passive_portfolio": "not_established",
    "independent_third_party_methodology_review": "not_completed",
    "synthetic_reproducibility_example": "standalone_and_private_parity_tested",
    "real_market_cash_benchmark_example": "standalone_official_treasury_input",
    "public_policy_snapshot": "available_and_drift_tested",
    "dated_public_evidence_ledger": "scaffold_available_no_performance_entries"
  }
}