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NEXT FUNDS Nikkei 225 Leveraged Index ETF backtest

10 trend-following strategies were compared on the full daily history of NEXT FUNDS Nikkei 225 Leveraged Index ETF. 0 beat buy-and-hold CAGR; Keltner 채널 돌파 ranks first by Sharpe, matching the main backtester.

Data 2012-04-09 ~ 2026-07-31daily bars 3,519 (14.3 years)Costs 0.5%Venue TSEMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 20.9%, drawdown -62.7%).

Sharpe leader (same as main): Keltner 채널 돌파 — CAGR 15.5%, MDD -31.1%, Sharpe 0.82, 28% exposure.

CAGR reference leader: SMA 크로스오버 — CAGR 18.8%, MDD -73.9%, exposure 66%.

No strategy retained at least 75% of buy-and-hold CAGR while reducing drawdown by both 20% relatively and 5 percentage points absolutely.

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
Keltner 채널 돌파
emaPeriod=38, atrPeriod=25, mult=3.3
15.5%-31.1%0.820.507.9x4628%
볼린저 밴드 돌파
n=37, k=2.6
11.3%-46.5%0.710.244.6x3219%
Supertrend
period=36, mult=4.6
17.7%-50.9%0.710.3510.2x6664%
Donchian 채널 돌파
entryN=95, exitN=18
11.8%-46.7%0.630.254.9x4833%
SMA 크로스오버
fast=47, slow=147
18.8%-73.9%0.600.2511.8x2766%
Parabolic SAR
step=0.02, maxStep=0.16
12.9%-51.5%0.580.255.7x27060%
EMA 크로스오버
fast=42, slow=88
17.2%-57.1%0.570.309.7x3366%
ADX / DI 방향성
period=31, threshold=17
8.4%-35.1%0.530.243.2x4620%
ROC 모멘텀
n=78, threshold=0.18
9.3%-56.1%0.500.173.6x11132%
MACD
fast=16, slow=53, signal=22
9.7%-64.6%0.490.153.8x15852%
Buy and hold20.9%-62.7%0.630.3315.1x1100%
1x 10x 2013 2015 2017 2019 2021 2023 2025 SMA 크로스오버Keltner 채널 돌파Buy and hold
Keltner 채널 돌파 (Sharpe leader), SMA 크로스오버 (CAGR reference), Buy and hold.
0% -18% -37% -55% -74% 2013 2015 2017 2019 2021 2023 2025 Buy and holdSMA 크로스오버Keltner 채널 돌파
Keltner 채널 돌파 maximum drawdown -31.1% (2021-02-16 → 2023-05-08), recovered after 1,101 days.

Rules of the top strategy

Breaking above the channel top (average plus a multiple of volatility) signals an upside breakout.

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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