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iShares Latin America 40 ETF backtest

10 trend-following strategies were compared on the full daily history of iShares Latin America 40 ETF. 3 beat buy-and-hold CAGR; SMA 크로스오버 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is SMA 크로스오버 (CAGR 6.9%, MDD -53.1%).

Data 2001-10-26 ~ 2026-07-31daily bars 6,229 (24.8 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 6.0%, drawdown -74.4%).

Sharpe leader (same as main): SMA 크로스오버 — CAGR 6.9%, MDD -53.1%, Sharpe 0.44, 57% exposure.

CAGR reference leader: Donchian 채널 돌파 — CAGR 7.5%, MDD -68.9%, exposure 80%.

Return/drawdown alternative: SMA 크로스오버 — CAGR is 0.9%p higher than buy and hold, while drawdown improves by 21.3%p (CAGR 6.9%, MDD -53.1%, exposure 57%).

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
SMA 크로스오버
fast=15, slow=183
6.9%-53.1%0.440.135.2x5957%
EMA 크로스오버
fast=44, slow=159
6.6%-60.3%0.430.114.9x3758%
Donchian 채널 돌파
entryN=15, exitN=64
7.5%-68.9%0.430.116.0x8180%
Keltner 채널 돌파
emaPeriod=84, atrPeriod=16, mult=3.6
4.4%-43.8%0.370.102.9x6837%
ROC 모멘텀
n=145, threshold=0.03
4.2%-55.1%0.310.082.7x18152%
Supertrend
period=18, mult=4.9
3.6%-70.9%0.290.052.4x10453%
볼린저 밴드 돌파
n=36, k=2.6
2.2%-29.6%0.270.071.7x5617%
MACD
fast=19, slow=51, signal=17
2.2%-51.4%0.210.041.7x25150%
ADX / DI 방향성
period=35, threshold=13
0.6%-46.9%0.110.011.2x16425%
Parabolic SAR
step=0.015, maxStep=0.08
-4.9%-90.8%-0.15-0.050.3x39155%
Buy and hold6.0%-74.4%0.340.084.2x1100%
1x 10x 2002 2006 2010 2014 2018 2022 2026 Donchian 채널 돌파SMA 크로스오버Buy and hold
SMA 크로스오버 (Sharpe leader), Donchian 채널 돌파 (CAGR reference), Buy and hold.
0% -19% -37% -56% -74% 2002 2006 2010 2014 2018 2022 2026 Buy and holdDonchian 채널 돌파SMA 크로스오버
SMA 크로스오버 maximum drawdown -53.1% (2010-01-08 → 2025-05-05), prior peak not yet recovered.

Rules of the top strategy

When the short average rises above the long average, it reads that as an uptrend starting.

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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