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ProShares UltraShort Bloomberg Crude Oil backtest

10 trend-following strategies were compared on the full daily history of ProShares UltraShort Bloomberg Crude Oil. 10 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 9.3%, MDD -59.1%).

Data 2008-11-25 ~ 2026-07-31daily bars 4,446 (17.7 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -26.1%, drawdown -99.8%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 9.3%, MDD -59.1%, Sharpe 0.45, 8% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 35.4%p higher than buy and hold, while drawdown improves by 40.7%p (CAGR 9.3%, MDD -59.1%, exposure 8%).

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
Donchian 채널 돌파
entryN=62, exitN=3
9.3%-59.1%0.450.164.8x728%
Keltner 채널 돌파
emaPeriod=17, atrPeriod=17, mult=3.4
4.3%-64.8%0.300.072.1x327%
볼린저 밴드 돌파
n=31, k=3.2
4.1%-77.5%0.290.052.0x267%
ADX / DI 방향성
period=18, threshold=29
3.7%-60.1%0.280.061.9x265%
ROC 모멘텀
n=40, threshold=0
-7.4%-92.5%0.11-0.080.3x28339%
Supertrend
period=13, mult=3.5
-5.1%-95.0%0.11-0.050.4x11035%
Parabolic SAR
step=0.01, maxStep=0.04
-6.4%-95.0%0.11-0.070.3x15236%
EMA 크로스오버
fast=34, slow=182
-5.4%-85.1%0.10-0.060.4x2421%
SMA 크로스오버
fast=35, slow=77
-8.3%-92.4%0.08-0.090.2x5736%
MACD
fast=13, slow=59, signal=30
-15.3%-97.6%-0.04-0.160.1x16851%
Buy and hold-26.1%-99.8%-0.08-0.260.0x1100%
0.01 0.1 1x 10x 2009 2012 2015 2018 2021 2024 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -25% -50% -75% -100% 2009 2012 2015 2018 2021 2024 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -59.1% (2020-03-18 → 2025-12-23), prior peak not yet recovered.

Rules of the top strategy

A new high means a trend starting; a new low means it’s over (turtle-trading style).

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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