1. Modifications To Service & Updates

We reserve the right to revise, supplement, or replace these Terms of Service at any time. When modifications are made, the updated agreement will be posted directly to this page with an updated effective date. Your continued access to or utilization of the Evergreen Hydra Terminal, software, or strategy recommendations following the posting of changes constitutes your full and binding acceptance of all revised terms.

2. Commercial Use Prohibition & Intellectual Property Rights

All content, algorithms, quantitative models (including Evergreen Hydra macro risk regimes, 199.5-day moving average trend filters, leadership momentum scoring, and annual quarantine algorithms), source code, designs, graphical user interfaces, data structures, and documentation are the exclusive proprietary trade secrets and intellectual property of Evergreen Hydra and Westerdal Quant Fund Management LLC.

You are granted a limited, personal, revocable, non-exclusive, non-assignable, and non-sublicensable license to access the platform solely for private analytical and research purposes. You shall not:

• Decompile, reverse-engineer, disassemble, or attempt to derive the underlying mathematical formulas or source algorithms of the platform;
• Harvest, scrape, spider, extract, or index Terminal endpoints, datasets, or portfolio rankings using bots, scrapers, or automated systems without explicit prior written authorization;
• Redistribute, syndicate, frame, broadcast, republish, or create derivative commercial financial products based on Evergreen Hydra strategy metrics or model allocations.

3. Nature of Service & Hypothetical Backtest Disclosures

The Evergreen Hydra Terminal ("Terminal"), operated by Evergreen Hydra and Westerdal Quant Fund Management LLC ("Evergreen Hydra", "the Firm", "we", "us"), is an algorithmic research, backtesting, and market intelligence platform designed to evaluate concentrated equity momentum and macro trend models within the S&P 500 universe.

HYPOTHETICAL AND SIMULATED PERFORMANCE DISCLAIMER: All historical performance figures, compounded annual growth rates (CAGR), Sharpe ratios, maximum drawdowns, profit/loss tallies, and portfolio equity charts presented on this website (including the 30-year 1996–2026 backtest simulation) are hypothetical, mathematical simulations generated through retrospective algorithmic backtesting.

• Simulated performance results have inherent structural limitations and do not represent actual trading with real capital.
• Unlike actual trading records, simulated results do not reflect the impact of liquidity constraints, market impact costs, wide bid-ask spreads during market dislocations, partial order executions, exchange circuit breakers, broker fees, or psychological investor pressures.
• No representation or guarantee is made that any investor, portfolio, or account will or is likely to achieve profits or losses comparable to those demonstrated in hypothetical simulations. Past performance is strictly non-predictive of future market results.

4. Non-Fiduciary Status & No Investment, Tax, or Legal Advice

NOT A REGISTERED INVESTMENT ADVISER OR BROKER-DEALER: Evergreen Hydra is an analytical software provider. Evergreen Hydra is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities commission, is not a registered broker-dealer, and is not a member of FINRA or SIPC.

The data, quantitative rankings, stock allocation percentages, model portfolios, and commentary provided on this website are distributed strictly for educational, informational, and quantitative research purposes. They do not constitute personalized investment advice, financial planning, portfolio management, or recommendations to purchase, hold, or liquidate any security, asset, or financial product.

Evergreen Hydra does not owe you any fiduciary duty. You must evaluate the risks and merits of any financial decision independently. You should consult with an independent licensed financial advisor, Certified Public Accountant (CPA), and legal counsel prior to executing any financial transaction or deploying real capital.

5. Third-Party Market Data, Real-Time Feeds & Latency Disclaimers

Market data, stock prices, historical price bars, trading volumes, and index levels displayed across Evergreen Hydra are sourced from third-party market data feeds (including Yahoo Finance, public exchange feeds, and financial market data vendors).

NO WARRANTY ON DATA ACCURACY OR CONTINUITY: Neither Evergreen Hydra, nor its data vendors, nor any securities exchange (including NYSE, Nasdaq, Cboe):

• Guarantees the timeliness, sequence, accuracy, completeness, or reliability of any market price, stock quote, or calculated indicator;
• Assumes liability for delayed, truncated, unavailable, or incorrect market data, whether resulting from vendor transmission errors, exchange outages, technical glitches, or internet network latency;
• Warrants that real-time price updates or intraday NAV telemetry will be uninterrupted, error-free, or synchronized with instantaneous exchange order books.

All market data is provided strictly on an "AS IS" and "AS AVAILABLE" basis. Market quotes outside of normal exchange trading hours (9:30 AM to 4:00 PM Eastern Time) reflect closing prices or delayed feeds.

6. Self-Directed Trading, Execution Disclosures & Broker Communications

NO BROKERAGE CUSTODY OR DIRECT ORDER ROUTING: Evergreen Hydra does not hold custody of cash, investor funds, or securities, and does not route, execute, or settle trades on any exchange.

Any interactive tools provided on the platform—including the "Amount invested" calculator, target share allocations, and "Message to the Broker" text—are provided strictly as mathematical workflow aids for self-directed investors to communicate with their independent third-party brokerage firms:

• Self-Directed Execution: You retain complete, unilateral discretion over whether to place, modify, or refrain from placing any order with your brokerage. You are solely responsible for all trades executed in your brokerage account.
• Whole-Share Rounding & Cash Drag: Target allocations are mathematically apportioned and rounded down to whole shares based on your specified balance. Residual unallocated funds remain as cash, which may cause your actual account return to deviate slightly from theoretical model allocations.
• Execution Price Variance & Slippage: Actual execution prices obtained at your broker may differ from the quoted prices shown on the Terminal due to market volatility, bid-ask spread slippage, order routing delays, and exchange trading conditions.

7. Concentration Risk, Volatility & Substantial Loss of Capital

Investing in equities and momentum strategies involves substantial financial risk, including the potential for significant or total loss of capital:

• Concentration Risk: Evergreen Hydra models a concentrated portfolio of premier market leaders (e.g., top 3 to 4 momentum stocks). Concentrated portfolios exhibit substantially greater idiosyncratic volatility, single-stock event risk, and sector exposure than diversified broad-market indices such as the S&P 500.
• Systematic Market Shocks & Regime Shifts: Sharp macro shifts, liquidity shocks, geopolitical crises, interest rate volatility, and bear markets can cause rapid and severe drawdowns across equities, including leading momentum stocks.
• Drawdown Tolerance: Backtested simulations reveal historical peak-to-trough drawdowns. Investors who cannot tolerate substantial paper declines or who lack a long-term investment horizon should not deploy concentrated momentum strategies.

8. Tax Accounting & Wash Sale Governance (IRS Section 1091)

Tax laws, including Internal Revenue Code (IRC) Section 1091 governing wash sales, are complex and subject to dynamic interpretation by the Internal Revenue Service (IRS), judicial bodies, and state taxation authorities.

While Evergreen Hydra models an algorithmic loss-harvesting protocol designed to satisfy the statutory 30-day non-acquisition window (closing loss positions on the final trading day of December and quarantining them through January 31st), individual tax liabilities, capital gains netting, cost basis tracking, and loss disallowances depend on the taxpayer's individual tax return, multi-account holdings (such as taxable accounts, IRAs, and spouse accounts), broker Form 1099-B reporting, and IRS determinations. Evergreen Hydra disclaims any and all liability for tax liabilities, penalties, disallowed losses, or audit findings.

9. User Accounts, Password Security & Portal Access

To access restricted strategy portals, user dashboards, or specialized portfolio tools, you must register an account and maintain accurate, current, and complete registration information. If you disagree to these terms you have the option of not signing for an account. You are explicitly signing up and agree any past recordings are consented to.

• You are solely responsible for maintaining the confidentiality of your username, password, session tokens, and account access credentials.
• You accept full responsibility for all activities, instructions, and communications transmitted through your account, whether authorized by you or not.
• You agree to immediately notify Evergreen Hydra of any unauthorized access or security breach. Evergreen Hydra will not be liable for any loss or damage arising from your failure to protect your login credentials.
• Evergreen Hydra reserves the right to suspend or terminate accounts, revoke portal access, or refuse service to anyone at its sole discretion, with or without cause or notice.

10. Subscriptions, Fees, Billing & Cancellation

If any portion of the Service is offered on a subscription or fee basis:

• Payment Authorization: You authorize Evergreen Hydra (or its third-party billing processors) to charge your designated payment method for all applicable subscription fees, taxes, and service charges.
• Renewal & Cancellation: Unless specified otherwise, subscriptions renew automatically at the end of each billing cycle. You may cancel your subscription at any time prior to the next billing date through your portal dashboard or by contacting customer service.
• Refund Policy: All subscription fees, software access charges, and digital access fees are non-refundable once billed, except where required by applicable law.

11. Disclaimer of Warranties ("As-Is" and "As-Available")

TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICE, TERMINAL, DATA, MODELS, METRICS, CODE, WIDGETS, AND ALL CONTENT ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE.

EVERGREEN HYDRA, ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, DEVELOPERS, AND THIRD-PARTY DATA PROVIDERS EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO: (A) IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT; (B) WARRANTIES THAT THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, ACCURATE, COMPLETE, ERROR-FREE, OR VIRUS-FREE; AND (C) WARRANTIES AS TO THE ACCURACY, RELIABILITY, PROFITABILITY, OR SUITABILITY OF ANY QUANTITATIVE ALGORITHM, SIGNAL, PRICE QUOTE, OR STRATEGY RECOMMENDATION.

12. Limitation of Liability & Damages Cap

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT SHALL EVERGREEN HYDRA, WESTERDAL QUANT FUND MANAGEMENT LLC, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, MEMBERS, MANAGERS, EMPLOYEES, AFFILIATES, LICENSORS, OR DATA PROVIDERS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES (INCLUDING DAMAGES FOR LOSS OF PROFITS, TRADING LOSSES, CAPITAL LOSSES, BUSINESS INTERRUPTION, LOSS OF DATA, GOODWILL, OR OTHER INTANGIBLE LOSSES), REGARDLESS OF THE THEORY OF LIABILITY (WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE), EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN ALL CASES, THE TOTAL AGGREGATE LIABILITY OF EVERGREEN HYDRA ARISING FROM OR RELATING TO THESE TERMS OR YOUR USE OF THE SERVICE SHALL NOT EXCEED THE GREATER OF: (A) ONE HUNDRED U.S. DOLLARS ($100.00); OR (B) THE TOTAL FEES ACTUALLY PAID BY YOU TO EVERGREEN HYDRA FOR ACCESS TO THE SERVICE IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM.

13. Indemnification & Hold Harmless

You agree to defend, indemnify, and hold harmless Evergreen Hydra, Westerdal Quant Fund Management LLC, their parent entities, subsidiaries, affiliates, officers, directors, managers, CEO, developers, employees, and third-party data providers from and against all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees and legal disbursements) arising out of or resulting from:

• Your access to, use of, or reliance on the Service, Terminal, or model outputs;
• Any trading decisions, order executions, or portfolio actions taken by you or through your brokerage accounts;
• Your violation of any provision of these Terms of Service;
• Your infringement of any intellectual property, proprietary, or privacy right of any third party.

14. Call Recording

Telephone communications, video conferences, digital meeting recordings, customer service interactions, and executive discussions involving Jay Westerdal or representatives of Westerdal Quant Fund Management LLC and Evergreen Hydra may be monitored, recorded, archived, and transcribed for operational, compliance, training, and legal verification purposes in accordance with these Terms. If you disagree to these terms you have the option of not signing for an account. You are explicitly signing up and agree any past recordings are consented to. Any dispute relating to call recordings is subject to the Dispute Resolution, Mandatory Binding Arbitration and Class Action Waiver section of these Terms.

15. Severability & Entire Agreement

These Terms of Service, together with our Privacy Policy, Disclaimers, and any specific written agreements, constitute the entire, complete, and exclusive agreement between you and Evergreen Hydra governing your access to and use of the Service, superseding all prior or contemporaneous oral or written understandings, negotiations, or representations.

16. Dispute Resolution, Mandatory Binding Arbitration & Class Action Waiver

GOVERNING LAW: These Terms of Service and any dispute arising from or related to the Service shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware, without regard to its conflict of law principles.

MANDATORY BINDING ARBITRATION: Any controversy, claim, or dispute arising out of or relating to these Terms, the breach thereof, or the Service shall be settled exclusively by confidential, binding arbitration administered by the American Arbitration Association (AAA) under its Commercial Arbitration Rules, before a single arbitrator in Delaware or via remote virtual proceedings. Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

CLASS ACTION WAIVER: YOU AND EVERGREEN HYDRA AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING.

17. Contact & Official Governance Inquiries

For technical, algorithmic, institutional, or legal governance inquiries regarding the Evergreen Hydra Terminal or Westerdal Quant Fund management strategies, please direct correspondence to the fund administrator or submit inquiries via our primary digital portal.