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ProShares UltraPro Short Russell2000 backtest

10 trend-following strategies were compared on the full daily history of ProShares UltraPro Short Russell2000. 10 beat buy-and-hold CAGR; ADX / DI 방향성 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ADX / DI 방향성 (CAGR 0.8%, MDD -0.8%).

Data 2010-02-11 ~ 2026-07-31daily bars 4,142 (16.5 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -46.1%, drawdown -100.0%).

Sharpe leader (same as main): ADX / DI 방향성 — CAGR 0.8%, MDD -0.8%, Sharpe 0.38, 0% exposure.

CAGR reference leader: Keltner 채널 돌파 — CAGR 1.0%, MDD -49.8%, exposure 2%.

Return/drawdown alternative: ADX / DI 방향성 — CAGR is 46.9%p higher than buy and hold, while drawdown improves by 99.2%p (CAGR 0.8%, MDD -0.8%, 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
ADX / DI 방향성
period=32, threshold=37
0.8%-0.8%0.381.051.1x20%
Keltner 채널 돌파
emaPeriod=13, atrPeriod=11, mult=3.1
1.0%-49.8%0.150.021.2x142%
볼린저 밴드 돌파
n=34, k=3.3
-1.8%-54.9%0.06-0.030.7x144%
Donchian 채널 돌파
entryN=61, exitN=7
-3.5%-64.7%0.02-0.050.6x386%
ROC 모멘텀
n=38, threshold=0.13
-11.4%-86.3%-0.13-0.130.1x13614%
EMA 크로스오버
fast=22, slow=103
-14.3%-92.2%-0.20-0.160.1x2615%
Supertrend
period=24, mult=3.6
-17.0%-96.0%-0.24-0.180.0x8026%
SMA 크로스오버
fast=9, slow=58
-19.5%-97.6%-0.27-0.200.0x8627%
Parabolic SAR
step=0.015, maxStep=0.16
-26.2%-99.5%-0.43-0.260.0x31738%
MACD
fast=13, slow=24, signal=15
-32.2%-99.9%-0.47-0.320.0x25954%
Buy and hold-46.1%-100.0%-0.61-0.460.0x1100%
0.0001 0.001 0.01 0.1 1x 2011 2013 2015 2017 2019 2021 2023 2025 Keltner 채널 돌파ADX / DI 방향성Buy and hold
ADX / DI 방향성 (Sharpe leader), Keltner 채널 돌파 (CAGR reference), Buy and hold.
0% -25% -50% -75% -100% 2011 2013 2015 2017 2019 2021 2023 2025 Buy and holdKeltner 채널 돌파ADX / DI 방향성
ADX / DI 방향성 maximum drawdown -0.8% (2010-05-14 → 2010-05-17), recovered after 4 days.

Rules of the top strategy

Looks at both the direction and the strength of the trend; holds only in a strong uptrend.

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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