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Samsung KODEX Constructions ETF backtest

10 trend-following strategies were compared on the full daily history of Samsung KODEX Constructions ETF. 10 beat buy-and-hold CAGR; MACD ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ADX / DI 방향성 (CAGR 2.3%, MDD -25.4%).

Data 2009-10-30 ~ 2026-07-31daily bars 4,092 (16.8 years)Costs 0.5%Venue KRXMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR 0.1%, drawdown -81.2%).

Sharpe leader (same as main): MACD — CAGR 6.3%, MDD -39.7%, Sharpe 0.40, 50% exposure.

Return/drawdown alternative: ADX / DI 방향성 — CAGR is 6.2%p higher than buy and hold, while drawdown improves by 41.6%p (CAGR 2.3%, MDD -25.4%, exposure 7%).

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
MACD
fast=19, slow=58, signal=19
6.3%-39.7%0.400.162.8x14250%
SMA 크로스오버
fast=8, slow=27
5.0%-55.1%0.340.092.3x14851%
Donchian 채널 돌파
entryN=16, exitN=15
4.8%-40.1%0.340.122.2x11649%
Parabolic SAR
step=0.005, maxStep=0.24
4.7%-35.7%0.330.132.1x13848%
Supertrend
period=35, mult=2.1
3.6%-60.4%0.280.061.8x20057%
ROC 모멘텀
n=83, threshold=0.16
2.9%-36.9%0.260.081.6x7417%
ADX / DI 방향성
period=25, threshold=28
2.3%-25.4%0.250.091.5x187%
볼린저 밴드 돌파
n=49, k=2.8
2.4%-37.7%0.240.061.5x2812%
Keltner 채널 돌파
emaPeriod=39, atrPeriod=20, mult=2.2
2.3%-60.1%0.220.041.5x8228%
EMA 크로스오버
fast=42, slow=103
0.6%-64.4%0.140.011.1x4044%
Buy and hold0.1%-81.2%0.160.001.0x1100%
1x 2010 2013 2016 2019 2022 2025 MACDBuy and hold
MACD: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -20% -41% -61% -81% 2010 2013 2016 2019 2022 2025 Buy and holdMACD
MACD maximum drawdown -39.7% (2010-11-03 → 2015-01-21), recovered after 4,531 days.

Rules of the top strategy

Looks at the gap (MACD) between a short and long average crossing its own signal line.

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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