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MAXIS S&P500 US Equity ETF backtest

10 trend-following strategies were compared on the full daily history of MAXIS S&P500 US Equity ETF. 2 beat buy-and-hold CAGR; 볼린저 밴드 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is 볼린저 밴드 돌파 (CAGR 3.4%, MDD -4.8%).

Data 2020-01-07 ~ 2026-07-31daily bars 1,604 (6.6 years)Costs 0.5%Venue TSEMonthly snapshot 2026-07-31

Results by strategy

2 of 10 beat buy and hold (CAGR -14.9%, drawdown -99.0%).

Sharpe leader (same as main): 볼린저 밴드 돌파 — CAGR 3.4%, MDD -4.8%, Sharpe 0.82, 9% exposure.

CAGR reference leader: Parabolic SAR — CAGR 4.6%, MDD -19.7%, exposure 63%.

Return/drawdown alternative: 볼린저 밴드 돌파 — CAGR is 18.3%p higher than buy and hold, while drawdown improves by 94.2%p (CAGR 3.4%, MDD -4.8%, exposure 9%).

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
볼린저 밴드 돌파
n=30, k=3
3.4%-4.8%0.820.701.2x49%
Parabolic SAR
step=0.02, maxStep=0.32
4.6%-19.7%0.400.231.3x13263%
EMA 크로스오버
fast=53, slow=120
-16.6%-99.0%0.37-0.170.3x681%
SMA 크로스오버
fast=25, slow=216
-19.2%-99.0%0.36-0.190.2x1076%
ROC 모멘텀
n=12, threshold=-0.06
-15.8%-90.3%0.15-0.170.3x3993%
Donchian 채널 돌파
entryN=36, exitN=66
-19.0%-90.2%0.04-0.210.3x1481%
Supertrend
period=18, mult=3.2
-20.3%-90.2%-0.01-0.220.2x6671%
Keltner 채널 돌파
emaPeriod=50, atrPeriod=11, mult=1.2
-21.1%-90.2%-0.04-0.230.2x4867%
MACD
fast=18, slow=46, signal=16
-24.8%-90.3%-0.17-0.270.2x7348%
ADX / DI 방향성
period=33, threshold=13
-26.0%-90.2%-0.23-0.290.1x3437%
Buy and hold-14.9%-99.0%0.37-0.150.3x1100%
0.1 1x 2021 2022 2023 2024 2025 2026 Parabolic SAR볼린저 밴드 돌파Buy and hold
볼린저 밴드 돌파 (Sharpe leader), Parabolic SAR (CAGR reference), Buy and hold.
0% -25% -50% -74% -99% 2021 2022 2023 2024 2025 2026 Buy and holdParabolic SAR볼린저 밴드 돌파
볼린저 밴드 돌파 maximum drawdown -4.8% (2021-05-10 → 2024-01-12), recovered after 1,001 days.

Rules of the top strategy

Breaking above the upper band (average plus a multiple of volatility) signals a strong move up.

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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