Game & Watch leans back on a single foot, becoming intangible for 11 frames (or about ⅙ of a second), before leaning forwards and becoming vulnerable, being stuck in lag for ⅓ of a second. The move is widely considered to be the worst spot dodge in the game, giving Game & Watch the least amount of intagibility, both in the absolute number of frames and as a fraction of the move's duration (11/32 frames, or 34.4%). In addition, it's tied for the 4th-longest spot dodge in the game, only behind Mewtwo, Donkey Kong, and Bowser. This, along with his slow aerials (with Up aerial being the fastest at frame 7), contributes to his awful out of shield game.
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