Interactive framework Select any check from A–G to see what to read, what it catches and how much the index rules reveal.
Cluster 1 · Discretion
What can the sponsor or calculation agent still do to the index?
D is a discount on A–C, not a fourth addend.
Cluster 2 · Construction
Was the strategy built and its history presented without disguising design risk?
E is a mechanical overfitting proxy. G scores architecture, never cost magnitude.
How was the history presented?
ReadLive date, simulated share, convention changes, cost treatment, calibration language and retrospective universe choices.
What it catchesA continuous-looking backtest that measures a different quantity from the live index.
ExamplePrice stamps change from settlement to bid–ask midpoint inside the simulated period; an early-close rule appears only later.
Visibility from index rulesComplete