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Nikkei 225 Bull 2x ETF backtest

10 trend-following strategies were compared on the full daily history of Nikkei 225 Bull 2x ETF. 7 beat buy-and-hold CAGR; Keltner 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 3.5%, MDD -11.5%).

Data 2013-05-07 ~ 2026-07-31daily bars 3,256 (13.2 years)Costs 0.5%Venue TSEMonthly snapshot 2026-07-31

Results by strategy

7 of 10 beat buy and hold (CAGR -18.1%, drawdown -100.0%).

Sharpe leader (same as main): Keltner 채널 돌파 — CAGR 3.5%, MDD -11.5%, Sharpe 0.50, 4% exposure.

CAGR reference leader: SMA 크로스오버 — CAGR 11.2%, MDD -55.0%, exposure 62%.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 21.7%p higher than buy and hold, while drawdown improves by 88.5%p (CAGR 3.5%, MDD -11.5%, exposure 4%).

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
Keltner 채널 돌파
emaPeriod=13, atrPeriod=18, mult=3.7
3.5%-11.5%0.500.311.6x124%
SMA 크로스오버
fast=35, slow=64
11.2%-55.0%0.450.204.1x6362%
볼린저 밴드 돌파
n=19, k=2.7
4.1%-18.1%0.440.231.7x3210%
Donchian 채널 돌파
entryN=62, exitN=37
7.3%-68.1%0.410.112.6x3446%
Supertrend
period=24, mult=4.6
6.6%-73.0%0.380.092.3x6057%
EMA 크로스오버
fast=52, slow=146
-23.8%-100.0%0.28-0.240.0x2354%
ROC 모멘텀
n=58, threshold=0.06
3.2%-69.0%0.270.051.5x18648%
ADX / DI 방향성
period=13, threshold=35
1.4%-35.8%0.180.041.2x449%
Parabolic SAR
step=0.03, maxStep=0.1
-23.0%-99.4%0.12-0.230.0x26258%
MACD
fast=12, slow=26, signal=12
-27.3%-99.5%-0.02-0.270.0x21653%
Buy and hold-18.1%-100.0%0.28-0.180.1x1100%
0.001 0.01 0.1 1x 2014 2016 2018 2020 2022 2024 2026 SMA 크로스오버Keltner 채널 돌파Buy and hold
Keltner 채널 돌파 (Sharpe leader), SMA 크로스오버 (CAGR reference), Buy and hold.
0% -25% -50% -75% -100% 2014 2016 2018 2020 2022 2024 2026 Buy and holdSMA 크로스오버Keltner 채널 돌파
Keltner 채널 돌파 maximum drawdown -11.5% (2023-06-16 → 2025-10-14), recovered after 864 days.

Rules of the top strategy

Breaking above the channel top (average plus a multiple of volatility) signals an upside breakout.

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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