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Rakuten ETF - Nikkei 225 Double Inverse Index backtest

10 trend-following strategies were compared on the full daily history of Rakuten ETF - Nikkei 225 Double Inverse Index. 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 -0.7%, MDD -26.8%).

Data 2015-07-13 ~ 2026-07-31daily bars 2,719 (11.0 years)Costs 0.5%Venue TSEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -33.1%, drawdown -99.4%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR -0.7%, MDD -26.8%, Sharpe 0.02, 1% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 32.3%p higher than buy and hold, while drawdown improves by 72.6%p (CAGR -0.7%, MDD -26.8%, exposure 1%).

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=115, exitN=1
-0.7%-26.8%0.02-0.030.9x181%
ADX / DI 방향성
period=13, threshold=37
-0.8%-31.2%-0.02-0.020.9x81%
Keltner 채널 돌파
emaPeriod=12, atrPeriod=22, mult=3.6
-1.9%-36.0%-0.06-0.050.8x142%
볼린저 밴드 돌파
n=53, k=2.8
-6.4%-64.7%-0.22-0.100.5x208%
Supertrend
period=13, mult=4.2
-11.2%-82.7%-0.26-0.140.3x5129%
ROC 모멘텀
n=65, threshold=0.16
-7.1%-60.9%-0.31-0.120.4x325%
EMA 크로스오버
fast=29, slow=144
-9.0%-65.6%-0.39-0.140.4x1610%
SMA 크로스오버
fast=46, slow=99
-11.9%-80.8%-0.44-0.150.2x2821%
MACD
fast=15, slow=69, signal=20
-19.8%-95.0%-0.49-0.210.1x10152%
Parabolic SAR
step=0.045, maxStep=0.12
-19.5%-92.9%-0.56-0.210.1x27337%
Buy and hold-33.1%-99.4%-0.74-0.330.0x1100%
0.01 0.1 1x 2016 2018 2020 2022 2024 2026 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -25% -50% -75% -99% 2016 2018 2020 2022 2024 2026 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -26.8% (2020-03-19 → 2025-04-02), 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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