{
  "title": "Signal Ledger",
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      "adjustment": "auto_adjust=False; provider Close is split-adjusted; Adj Close also adjusts distributions"
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      "SPY buy & hold": {
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        "year": 2013,
        "return": 0.005946307702929143
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        "return": -0.0019377044706798685
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        "year": 2015,
        "return": -0.05353614452639199
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        "year": 2016,
        "return": 0.007441122538647704
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        "year": 2017,
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        "year": 2018,
        "return": -0.005078080243861027
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        "year": 2019,
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        "year": 2020,
        "return": 0.06155352928729929
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        "return": 0.014129339365328564
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        "return": 0.013774422328084679
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        "return": 0.07713931216795666
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        "return": 0.13879866591546342
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        "return": 0.033039807361561646
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        "return": -0.0016258074180335313
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        "return": 0.01590753840462078
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        "year": 2015,
        "return": -0.030828894440974475
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        "year": 2016,
        "return": 0.020220587254862865
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        "year": 2017,
        "return": 0.11011150073598852
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      {
        "year": 2018,
        "return": -0.040892072283414294
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      {
        "year": 2019,
        "return": 0.05884712762588551
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        "year": 2020,
        "return": 0.006626679021956461
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        "year": 2021,
        "return": 0.017575500659761767
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        "return": -0.11097091011199811
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        "year": 2023,
        "return": 0.03854714888296629
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      {
        "year": 2024,
        "return": 0.0771190241089228
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      {
        "year": 2025,
        "return": 0.1290431337992477
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        "year": 2026,
        "return": 0.010692625266945699
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    "Passive risk budget": [
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        "year": 2013,
        "return": -0.010132939623993864
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        "year": 2014,
        "return": 0.015650407060928684
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        "year": 2015,
        "return": -0.038757701989351134
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        "year": 2016,
        "return": 0.022393322515523506
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      {
        "year": 2017,
        "return": 0.17345188003587775
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        "year": 2018,
        "return": -0.045942861349532405
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      {
        "year": 2019,
        "return": 0.14357653961512318
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      {
        "year": 2020,
        "return": 0.06017575164889499
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        "year": 2021,
        "return": 0.030519611856988593
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        "return": -0.09642267133965865
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        "year": 2023,
        "return": 0.08417178879349962
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      {
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        "return": 0.09127380573246935
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      {
        "year": 2025,
        "return": 0.17753868057492683
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        "return": 0.03100358881200105
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    "Equal-weight daily": [
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        "year": 2013,
        "return": -0.020563553814245017
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        "year": 2014,
        "return": 0.022269317887032347
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        "year": 2015,
        "return": -0.047147287984873776
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        "year": 2016,
        "return": 0.07349480253389662
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      {
        "year": 2017,
        "return": 0.19533761116879966
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      {
        "year": 2018,
        "return": -0.06706917557595682
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      {
        "year": 2019,
        "return": 0.19690656028227393
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      {
        "year": 2020,
        "return": 0.17358050157042992
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      {
        "year": 2021,
        "return": 0.055103253337805747
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      {
        "year": 2022,
        "return": -0.13390461554240973
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      {
        "year": 2023,
        "return": 0.14128237575275038
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      {
        "year": 2024,
        "return": 0.1199218126503303
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      {
        "year": 2025,
        "return": 0.30556916796468037
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        "year": 2026,
        "return": 0.07626643845197911
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    ],
    "SPY buy & hold": [
      {
        "year": 2013,
        "return": 0.05809146740925142
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        "year": 2014,
        "return": 0.13463799870435644
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      {
        "year": 2015,
        "return": 0.012343213003267683
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      {
        "year": 2016,
        "return": 0.11997860814647487
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      {
        "year": 2017,
        "return": 0.2170538643923139
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      {
        "year": 2018,
        "return": -0.04568976352504006
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      {
        "year": 2019,
        "return": 0.3122387332621317
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      {
        "year": 2020,
        "return": 0.1833162733912046
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      {
        "year": 2021,
        "return": 0.28728742216351644
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      {
        "year": 2022,
        "return": -0.18175375755363166
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      {
        "year": 2023,
        "return": 0.26175811446163766
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      {
        "year": 2024,
        "return": 0.24886476207147523
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      {
        "year": 2025,
        "return": 0.17719051276439646
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      {
        "year": 2026,
        "return": 0.12709214550836645
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    ]
  },
  "audit": [
    {
      "symbol": "SPY",
      "date": "2010-03-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.48; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2010-06-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.531; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2010-09-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.602; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2010-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.653; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2011-03-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.553; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2011-06-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.628; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2011-09-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.625; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2011-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.77; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2012-03-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.614; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2012-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.688; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2012-09-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.779; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2012-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.022; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2013-03-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.694; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2013-06-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.839; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2013-09-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.838; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2013-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.98; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2014-03-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.825; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2014-06-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.937; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2014-09-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.939; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2014-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.135; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2015-03-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.931; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2015-06-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.03; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2015-09-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.033; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2015-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.212; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2016-03-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.05; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2016-06-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.078; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2016-09-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.082; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2016-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.329; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2017-03-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.033; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2017-06-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.183; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2017-09-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.235; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2017-12-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.351; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2018-03-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.097; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2018-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.246; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2018-09-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.323; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2018-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.435; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2019-03-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.233; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2019-06-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.432; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2019-09-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.384; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2019-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.57; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2020-03-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.406; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2020-06-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.366; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2020-09-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.339; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2020-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.58; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2021-03-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.278; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2021-06-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.376; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2021-09-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.428; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2021-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.633; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2022-03-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.366; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2022-06-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.577; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2022-09-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.596; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2022-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.781; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2023-03-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.506; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2023-06-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.638; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2023-09-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.583; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2023-12-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.906; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2024-03-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.595; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2024-06-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.759; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2024-09-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.746; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2024-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.966; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2025-03-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.696; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2025-06-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.761; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2025-09-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.831; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2025-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.993; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2026-03-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.797; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2026-06-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.904; incorporated once through Adj Close"
    },
    {
      "symbol": "SPY",
      "date": "2026-09-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.889; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.3; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.244; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.255; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-05-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.273; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.26; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.248; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-08-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.253; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.247; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.233; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.235; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.239; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2010-12-28",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.248; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.235; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.216; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.248; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-05-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.241; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.244; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.231; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.238; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.229; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-10-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.211; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.209; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.2; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2011-12-27",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.189; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.191; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.17; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-04-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.177; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.168; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.171; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-07-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.16; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.162; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-09-04",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.151; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.141; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.145; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-12-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.137; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2012-12-26",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.151; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.14; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.127; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.145; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.135; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-06-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.142; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.139; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.141; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-09-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.151; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.153; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.161; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-12-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2013-12-26",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-02-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.175; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-03-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.166; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.19; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.194; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-06-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.175; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.192; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.196; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-09-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.181; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.189; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-11-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.181; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.18; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2014-12-24",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.156; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-02-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.182; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-03-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.17; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.175; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.163; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.169; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.162; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-08-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.167; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-11-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.163; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.165; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2015-12-24",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.157; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.168; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-05-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.161; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.163; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.158; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.158; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.155; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-10-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.15; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.154; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.149; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2016-12-22",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.165; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.145; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-04-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.16; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-07-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.165; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.162; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-10-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.16; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2017-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.164; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.168; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.159; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-04-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.175; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.191; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.202; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-07-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.19; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.2; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-09-04",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.206; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.204; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.216; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-12-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.212; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2018-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.213; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.22; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.199; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.218; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.212; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-06-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.213; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.192; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.194; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-09-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.19; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.171; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.168; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-12-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.16; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2019-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.156; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-02-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.153; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-03-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.14; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.144; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.128; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.122; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.11; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-08-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.1; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.088; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.079; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-11-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.076; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.08; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2020-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.073; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.078; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.07; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.07; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-05-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.074; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.079; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.077; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-08-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.076; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.08; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.08; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.081; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.088; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2021-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.106; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.108; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.101; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.121; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-05-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.125; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.129; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.155; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.184; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.179; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-10-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.187; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.203; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.194; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2022-12-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.192; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.212; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.196; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-04-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.196; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.239; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.232; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-07-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.232; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.242; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.242; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-10-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.239; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.249; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.249; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2023-12-14",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.282; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-02-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.236; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-03-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.249; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.276; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.271; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-06-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.276; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.285; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.289; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-09-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.288; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.286; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-11-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.292; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-12-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.292; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2024-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.308; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-02-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.296; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-03-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.275; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.304; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.313; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-06-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.31; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.303; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-08-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.309; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-09-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.314; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-10-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.294; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-11-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.304; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-12-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.288; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2025-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.313; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-02-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.312; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-03-02",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.283; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-04-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.317; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-05-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.312; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-06-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.317; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-07-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.311; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-08-03",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.318; incorporated once through Adj Close"
    },
    {
      "symbol": "IEF",
      "date": "2026-09-01",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.332; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2010-06-23",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.859; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2010-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.538; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2011-06-22",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.141; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2011-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.569; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2012-06-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.149; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2012-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.61; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2013-06-27",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.152; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2013-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.552; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2014-06-25",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.676; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2014-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.585; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2015-06-25",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.111; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2015-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.508; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2016-06-22",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.175; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2016-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.596; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2017-06-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.062; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2017-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.743; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2018-06-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.354; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2018-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.638; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2019-06-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.376; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2019-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.776; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2020-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.858; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2020-12-14",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.694; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2021-06-10",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.102; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2021-12-13",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.352; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2021-12-30",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.163; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2022-06-09",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.498; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2022-12-13",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.268; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2023-06-07",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.311; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2023-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.931; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2024-06-11",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.393; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2024-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.057; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2025-06-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.519; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2025-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.728; incorporated once through Adj Close"
    },
    {
      "symbol": "EFA",
      "date": "2026-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 1.636; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2010-06-23",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.262; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2010-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.359; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2010-12-29",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.025; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2011-06-22",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.461; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2011-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.347; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2012-06-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.468; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2012-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.262; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2012-12-27",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.014; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2013-06-27",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.493; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2013-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.366; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2014-06-25",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.341; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2014-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.535; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2015-06-25",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.301; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2015-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.501; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2016-06-22",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.266; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2016-12-21",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.396; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2017-06-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.192; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2017-12-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.697; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2018-06-19",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.29; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2018-12-18",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.584; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2019-06-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.311; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2019-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.929; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2020-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.23; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2020-12-14",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.519; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2021-06-10",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.241; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2021-12-13",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.707; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2021-12-30",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.026; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2022-06-09",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.362; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2022-12-13",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.584; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2023-06-07",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.31; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2023-12-20",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.748; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2024-06-11",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.29; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2024-12-17",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.727; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2025-06-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.452; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2025-12-16",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.763; incorporated once through Adj Close"
    },
    {
      "symbol": "EEM",
      "date": "2026-06-15",
      "code": "dividend",
      "severity": "info",
      "reason": "Distribution 0.351; incorporated once through Adj Close"
    }
  ],
  "folds": [
    {
      "symbol": "SPY",
      "decision_date": "2013-10-21",
      "train_first": "2010-10-18",
      "train_last_feature": "2013-10-17",
      "train_last_label_end": "2013-10-21",
      "prediction_end": "2014-01-21",
      "n_train": 756,
      "alpha": 100.0,
      "cv_mse": {
        "1.0": 0.00012510905551640106,
        "10.0": 0.00012510993398902171,
        "100.0": 0.00012489001412965302
      },
      "cv_boundaries": [
        {
          "last_train_feature": "2011-07-14",
          "last_train_label_end": "2011-07-18",
          "first_validation_feature": "2011-07-19"
        },
        {
          "last_train_feature": "2012-04-13",
          "last_train_label_end": "2012-04-17",
          "first_validation_feature": "2012-04-18"
        },
        {
          "last_train_feature": "2013-01-15",
          "last_train_label_end": "2013-01-17",
          "first_validation_feature": "2013-01-18"
        }
      ],
      "holdout": false
    },
    {
      "symbol": "SPY",
      "decision_date": "2014-01-22",
      "train_first": "2010-10-18",
      "train_last_feature": "2014-01-17",
      "train_last_label_end": "2014-01-22",
      "prediction_end": "2014-04-22",
      "n_train": 819,
      "alpha": 100.0,
      "cv_mse": {
        "1.0": 9.886315791554316e-05,
        "10.0": 9.83347803914817e-05,
        "100.0": 9.66029091374849e-05
      },
      "cv_boundaries": [
        {
          "last_train_feature": "2011-08-09",
          "last_train_label_end": "2011-08-11",
          "first_validation_feature": "2011-08-12"
        },
        {
          "last_train_feature": "2012-05-31",
          "last_train_label_end": "2012-06-04",
          "first_validation_feature": "2012-06-05"
        },
        {
          "last_train_feature": "2013-03-26",
          "last_train_label_end": "2013-03-28",
          "first_validation_feature": "2013-04-01"
        }
      ],
      "holdout": false
    },
    {
      "symbol": "SPY",
      "decision_date": "2014-04-23",
      "train_first": "2010-10-18",
      "train_last_feature": "2014-04-21",
      "train_last_label_end": "2014-04-23",
      "prediction_end": "2014-07-22",
      "n_train": 882,
      "alpha": 100.0,
      "cv_mse": {
        "1.0": 8.736369070820573e-05,
        "10.0": 8.670772987467815e-05,
        "100.0": 8.555963973978179e-05
      },
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      "n_train": 3969,
      "alpha": 100.0,
      "cv_mse": {},
      "cv_boundaries": [],
      "holdout": true
    }
  ],
  "weights": {
    "Trend + risk budget": {
      "SPY": 0.1808039353926988,
      "IEF": 0.0,
      "GLD": 0.0,
      "EFA": 0.15286334238032484,
      "EEM": 0.08178750512600116
    },
    "Walk-forward ridge": {
      "SPY": 0.1808039353926988,
      "IEF": 0.3,
      "GLD": 0.08044249325390408,
      "EFA": 0.15286334238032484,
      "EEM": 0.08178750512600116
    },
    "Passive risk budget": {
      "SPY": 0.1808039353926988,
      "IEF": 0.3,
      "GLD": 0.08044249325390408,
      "EFA": 0.15286334238032484,
      "EEM": 0.08178750512600116
    },
    "Equal-weight daily": {
      "SPY": 0.2,
      "IEF": 0.2,
      "GLD": 0.2,
      "EFA": 0.2,
      "EEM": 0.2
    },
    "SPY buy & hold": {
      "SPY": 1.0,
      "IEF": 0.0,
      "GLD": 0.0,
      "EFA": 0.0,
      "EEM": 0.0
    }
  },
  "latest_predictions": {
    "SPY": 0.0004346338022273362,
    "IEF": 9.109705827161784e-06,
    "GLD": 0.0005861462894021499,
    "EFA": 0.0004384030076733773,
    "EEM": 0.000399084536694605
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  "forecast_quality": {
    "SPY": {
      "observations": 3253,
      "mse": 0.00011512763285214222,
      "zero_signal_mse": 0.00011533553808731755,
      "oos_r2_vs_zero": 0.001802612088374067,
      "direction_accuracy": 0.5391945896095911,
      "always_up_accuracy": 0.5487242545342761,
      "rank_ic": 0.016902225720119814
    },
    "IEF": {
      "observations": 3253,
      "mse": 1.6421216183775072e-05,
      "zero_signal_mse": 1.6362366556274297e-05,
      "oos_r2_vs_zero": -0.0035966452223386014,
      "direction_accuracy": 0.49400553335382724,
      "always_up_accuracy": 0.5059944666461728,
      "rank_ic": -0.04141179090315973
    },
    "GLD": {
      "observations": 3253,
      "mse": 0.00010398948804416367,
      "zero_signal_mse": 0.00010395842641731186,
      "oos_r2_vs_zero": -0.0002987889286349965,
      "direction_accuracy": 0.5001537042729788,
      "always_up_accuracy": 0.526898247771288,
      "rank_ic": 0.015906900991054844
    },
    "EFA": {
      "observations": 3253,
      "mse": 0.00011246223570220857,
      "zero_signal_mse": 0.00011206431985640092,
      "oos_r2_vs_zero": -0.0035507808936647844,
      "direction_accuracy": 0.5010759299108515,
      "always_up_accuracy": 0.526898247771288,
      "rank_ic": -0.0025673905279817544
    },
    "EEM": {
      "observations": 3253,
      "mse": 0.00016879162575011365,
      "zero_signal_mse": 0.0001684912247685237,
      "oos_r2_vs_zero": -0.0017828879931440778,
      "direction_accuracy": 0.4958499846295727,
      "always_up_accuracy": 0.5241315708576698,
      "rank_ic": -0.0015763200996050488
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  },
  "environment": {
    "numpy": "2.5.3",
    "pandas": "3.0.6",
    "scikit-learn": "1.9.1",
    "yfinance": "1.7.0",
    "exchange-calendars": "4.13.2"
  },
  "limitations": [
    "Fixed ETF universe was chosen in 2026. Historical selection/survival bias remains; no point-in-time equity-universe claim.",
    "Yahoo historical adjustments can be revised. Hashes prove this snapshot, not what a trader saw historically.",
    "Daily closing execution is a simulation. No order book, market impact, tax, FX, borrow or intraday fill modeling.",
    "Cash earns the configured fixed rate (default zero); Sharpe uses that rate, not a historical Treasury series.",
    "Terminal evaluation window freezes hyperparameter search; models refit with only matured labels. This is retrospective, not a prospective live holdout.",
    "Sharpe intervals use a 21-session circular block bootstrap (500 samples); they are not multiple-testing-adjusted or a guarantee.",
    "ETF expenses are embedded in provider prices. Distributions assume provider total-return reinvestment, not actual cash payment timing.",
    "Weights are research targets for next-session close, not orders. No broker connection or real trading is implemented."
  ]
}