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ProShares Short Russell2000 backtest

10 trend-following strategies were compared on the full daily history of ProShares Short Russell2000. 10 beat buy-and-hold CAGR; 볼린저 밴드 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ADX / DI 방향성 (CAGR -0.0%, MDD -2.1%).

Data 2007-01-25 ~ 2026-07-31daily bars 4,910 (19.5 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -14.3%, drawdown -97.3%).

Sharpe leader (same as main): 볼린저 밴드 돌파 — CAGR 0.8%, MDD -29.4%, Sharpe 0.12, 7% exposure.

Return/drawdown alternative: ADX / DI 방향성 — CAGR is 15.1%p higher than buy and hold, while drawdown improves by 67.9%p (CAGR -0.0%, MDD -2.1%, exposure 0%).

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
볼린저 밴드 돌파
n=48, k=3.2
0.8%-29.4%0.120.031.2x187%
Keltner 채널 돌파
emaPeriod=12, atrPeriod=14, mult=3.5
0.1%-21.5%0.050.001.0x141%
Donchian 채널 돌파
entryN=84, exitN=18
-1.9%-52.1%-0.06-0.040.7x3211%
ADX / DI 방향성
period=34, threshold=31
-0.0%-2.1%-0.08-0.021.0x20%
Supertrend
period=21, mult=4.4
-5.4%-77.5%-0.22-0.070.3x7431%
EMA 크로스오버
fast=46, slow=190
-5.6%-77.1%-0.25-0.070.3x2821%
SMA 크로스오버
fast=52, slow=207
-6.3%-76.7%-0.31-0.080.3x2022%
ROC 모멘텀
n=117, threshold=0.12
-5.9%-72.6%-0.34-0.080.3x887%
MACD
fast=18, slow=29, signal=12
-12.1%-94.6%-0.56-0.130.1x28751%
Parabolic SAR
step=0.015, maxStep=0.38
-12.9%-94.3%-0.66-0.140.1x38340%
Buy and hold-14.3%-97.3%-0.48-0.150.0x1100%
0.1 1x 2008 2011 2014 2017 2020 2023 2026 볼린저 밴드 돌파Buy and hold
볼린저 밴드 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -24% -49% -73% -97% 2008 2011 2014 2017 2020 2023 2026 Buy and hold볼린저 밴드 돌파
볼린저 밴드 돌파 maximum drawdown -29.4% (2008-11-20 → 2018-10-16), recovered after 4,130 days.

Rules of the top strategy

Breaking above the upper band (average plus a multiple of volatility) signals a strong move up.

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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