What exactly do all of Shulk's different modes do?

When playing as Shulk, if you use B, you cycle through 5 different modes called Jump, Speed, Shield, Buster, and Smash. Whichever one you end on seems to give you some kind of buff for a while. Some are clear what the buff is, but others aren't. What exactly do each of these buffs do?

Neutral Special: Shulk activates one of five arts, which display kanji characters behind him when selected, to enhance some of his abilities while reducing others. The arts are:

翔 (Jump): Higher jumps, lower defense.

疾 (Speed): Faster movement, lower jumps, weaker attacks.

盾 (Shield): Higher defense, lower jumps, weaker attacks, slower movement.

斬 (Buster): Stronger attacks, weaker launch ability, lower defense.

撃 (Smash): Stronger launch ability, weaker attacks, lower defense against launching.

Custom 1 Decisive Monado Arts — Arts last longer, but once an Art is activated it cannot be changed.

Custom 2 Hyper Monado Arts — Both positive and negative effects of Arts are amplified, and the Arts last for a shorter duration of time.

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