Trend-Following Backtester · Guide · backtest 한국어

etf · HK

iShares Hang Seng TECH ETF HKD Counter backtest

10 trend-following strategies were compared on the full daily history of iShares Hang Seng TECH ETF HKD Counter. 10 beat buy-and-hold CAGR; ROC 모멘텀 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 2.7%, MDD -18.4%).

Data 2020-09-14 ~ 2026-07-31daily bars 1,442 (5.9 years)Costs 0.5%Venue HKEXMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -6.4%, drawdown -74.5%).

Sharpe leader (same as main): ROC 모멘텀 — CAGR 9.0%, MDD -27.9%, Sharpe 0.61, 16% exposure.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 15.5%p higher than buy and hold, while drawdown improves by 46.5%p (CAGR 2.7%, MDD -18.4%, exposure 6%).

The alternative must retain 75% of buy-and-hold CAGR, improve drawdown by at least 20% and 5 percentage points, and stay below 95% exposure; the ranking weights return retention 60% and drawdown improvement 40%.

Strategy · parametersCAGRMDDSharpeCalmarTotalTradesExposure
ROC 모멘텀
n=155, threshold=0.18
9.0%-27.9%0.610.321.7x3016%
Donchian 채널 돌파
entryN=45, exitN=6
4.9%-27.7%0.380.181.3x2213%
Parabolic SAR
step=0.005, maxStep=0.26
5.6%-52.1%0.340.111.4x4347%
볼린저 밴드 돌파
n=43, k=2.4
4.0%-31.4%0.310.131.3x1620%
MACD
fast=15, slow=54, signal=17
4.4%-56.5%0.300.081.3x4947%
Keltner 채널 돌파
emaPeriod=17, atrPeriod=26, mult=3.2
2.7%-18.4%0.270.141.2x106%
Supertrend
period=18, mult=4.4
1.3%-39.7%0.180.031.1x1836%
EMA 크로스오버
fast=15, slow=23
-1.2%-40.5%0.07-0.030.9x4142%
SMA 크로스오버
fast=22, slow=190
-1.4%-36.9%0.04-0.040.9x1234%
ADX / DI 방향성
period=22, threshold=13
-1.5%-37.2%0.03-0.040.9x5430%
Buy and hold-6.4%-74.5%0.02-0.090.7x1100%
1x 2021 2022 2023 2024 2025 2026 ROC 모멘텀Buy and hold
ROC 모멘텀: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -19% -37% -56% -74% 2021 2022 2023 2024 2025 2026 Buy and holdROC 모멘텀
ROC 모멘텀 maximum drawdown -27.9% (2025-03-18 → 2025-04-07), recovered after 183 days.

Rules of the top strategy

Rides the trend when recent return (momentum) over a window is above a threshold.

Method and caveats

Past performance does not guarantee future returns. Parameters were selected on the same full-history sample using sharpe over 40 trials per strategy, so results contain in-sample bias. 0.5% trading costs are included; taxes, slippage and rejected orders are not.
Re-run the same setupAll asset reports

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