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Nomura Asset NEXT FUNDS NIFTY 50 Linked ETF (1678) backtest

10 trend-following strategies were compared on the full daily history of Nomura Asset NEXT FUNDS NIFTY 50 Linked ETF (1678). 0 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester.

Data 2009-11-20 ~ 2026-07-31daily bars 4,100 (16.7 years)Costs 0.5%Venue TSEMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 7.5%, drawdown -43.6%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 5.2%, MDD -29.0%, Sharpe 0.43, 54% exposure.

No strategy retained at least 75% of buy-and-hold CAGR while reducing drawdown by both 20% relatively and 5 percentage points absolutely.

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=78, exitN=62
5.2%-29.0%0.430.182.3x2654%
볼린저 밴드 돌파
n=69, k=2.4
4.0%-19.5%0.400.201.9x3432%
EMA 크로스오버
fast=23, slow=204
4.7%-33.7%0.370.142.2x2860%
SMA 크로스오버
fast=21, slow=59
4.4%-30.9%0.360.142.0x6958%
Parabolic SAR
step=0.005, maxStep=0.36
3.1%-37.5%0.280.081.7x11453%
ROC 모멘텀
n=162, threshold=0.05
2.8%-31.6%0.280.091.6x10846%
Supertrend
period=12, mult=4.7
1.3%-35.0%0.160.041.2x6553%
Keltner 채널 돌파
emaPeriod=51, atrPeriod=26, mult=2.9
1.2%-41.8%0.160.031.2x6835%
ADX / DI 방향성
period=39, threshold=18
0.9%-26.6%0.150.041.2x3613%
MACD
fast=14, slow=24, signal=17
1.1%-47.0%0.150.021.2x23449%
Buy and hold7.5%-43.6%0.440.173.3x1100%
1x 2010 2013 2016 2019 2022 2025 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -11% -22% -33% -44% 2010 2013 2016 2019 2022 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -29.0% (2013-05-22 → 2014-03-14), recovered after 531 days.

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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