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1. Pure Data Utility & No Financial Advice

Non-Advisory Status: This Website operates exclusively as a standalone, mathematical data utility for calculation, research, and educational purposes. ETF & Fund Analysis is an impersonal publication of general and regular circulation; it is not an investment adviser registered under the Investment Advisers Act of 1940 or any state statute, and it is not a broker-dealer, portfolio manager, or financial intermediary. Nothing on the Website is tailored to any person's circumstances.

No Recommendations: The outputs generated by our engine—including overlap percentages, severity badges, commonality matrices, shared-holdings analyses, and minimum-overlap rankings—are the results of algorithmic calculations based on public regulatory filings and fund disclosures. A fund appearing at the top of a minimum-overlap ranking means only that its disclosed portfolio overlaps the anchor fund the least; it is not a recommendation to buy, hold, or sell that fund or any security. No output constitutes investment advice, a trade recommendation, or a solicitation.

User Responsibility: You are entirely responsible for your own financial decisions and capital allocations. We recommend consulting a qualified, registered financial professional before acting on any metric provided by this platform.

2. Accuracy, Freshness, and Data Sourcing

Regulatory Filings: Portfolio holdings are computed from SEC EDGAR Form N-PORT filings—the public portfolio disclosures of US registered funds—and, for certain ETFs, from the fund sponsor's published daily holdings disclosures. Displayed holdings tables, where present, are drawn from public-domain regulatory filings; all other outputs are derived analytics computed from the underlying data.

Data Latency: SEC rules make N-PORT filings public on a delay—typically around two months after the reporting period ends—and cadence varies by fund family. The Website displays the as-of date of the data behind each result rather than representing any figure as current. Sponsor-sourced ETF weights reflect the prior trading day's published file when available.

As-Is Provision: All information, metrics, and visuals—including Venn diagrams, heatmaps, treemaps, and rankings—are provided on an "as-is" and "as-available" basis without warranties of any kind, explicit or implied. We do not guarantee that parsed data points are free of errors made by upstream filers, that identifiers resolve perfectly in every case, or that any snapshot matches a fund's holdings on the day you read it.

Trademarks: Fund names, tickers, and index names appearing on the Website are the property of their respective owners and are used solely to identify the funds being analyzed. ETF & Fund Analysis is not affiliated with, endorsed by, or licensed by any fund sponsor, index provider, or exchange.

3. Permitted Use & Intellectual Property Constraints

Acceptable Use: You are granted a limited, non-exclusive, non-transferable license to access our platform to evaluate multi-fund portfolios.

Shareable Results: You are welcome to share links to specific comparison pages and results.

Prohibited Activities: You may not exploit our backend engine. Automated scraping, systematic bulk extraction of our normalized holdings or identifier databases, deep-linking components outside the main UI frame, or issuing programmatic denial-of-service (DoS) requests against our public architecture is strictly prohibited.

4. Limitation of Liability

To the maximum extent permitted by applicable law, ETF & Fund Analysis, its developers, and affiliates shall not be liable for any direct, indirect, incidental, consequential, special, or exemplary damages—including but not limited to loss of capital, portfolio depreciation, tracking errors, fee variances, or investment losses—arising from your choice to use or interpret metrics generated on this Website, or from the availability of the underlying data at any given moment.

5. Amendments

We reserve the right to modify these Terms at any time. Continued use of the platform following updates implies acceptance of the modified version.