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Invesco Ultra Short Duration ETF backtest

10 trend-following strategies were compared on the full daily history of Invesco Ultra Short Duration ETF. 0 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester.

Data 2008-02-12 ~ 2026-07-31daily bars 4,646 (18.5 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR -0.0%, drawdown -12.1%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR -0.8%, MDD -21.9%, Sharpe -0.17, 57% exposure.

CAGR reference leader: ROC 모멘텀 — CAGR -0.8%, MDD -13.1%, exposure 0%.

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=79, exitN=114
-0.8%-21.9%-0.17-0.040.9x2057%
ROC 모멘텀
n=87, threshold=0.07
-0.8%-13.1%-0.24-0.060.9x20%
ADX / DI 방향성
period=26, threshold=51
-0.8%-13.9%-0.26-0.060.9x41%
볼린저 밴드 돌파
n=16, k=3.5
-1.0%-16.8%-0.32-0.060.8x100%
Keltner 채널 돌파
emaPeriod=12, atrPeriod=10, mult=3.8
-1.0%-17.6%-0.34-0.060.8x121%
EMA 크로스오버
fast=58, slow=185
-1.1%-19.5%-0.35-0.060.8x1852%
SMA 크로스오버
fast=32, slow=173
-1.5%-24.6%-0.43-0.060.8x3255%
MACD
fast=53, slow=107, signal=49
-3.3%-45.8%-0.93-0.070.5x9445%
Parabolic SAR
step=0.005, maxStep=0.02
-3.7%-49.9%-1.11-0.070.5x10056%
Supertrend
period=8, mult=4.9
-3.9%-52.2%-1.19-0.080.5x9835%
Buy and hold-0.0%-12.1%0.02-0.001.0x1100%
1x 2009 2012 2015 2018 2021 2024 ROC 모멘텀Donchian 채널 돌파Buy and hold
Donchian 채널 돌파 (Sharpe leader), ROC 모멘텀 (CAGR reference), Buy and hold.
0% -5% -11% -16% -22% 2009 2012 2015 2018 2021 2024 Buy and holdROC 모멘텀Donchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -21.9% (2008-12-03 → 2020-03-19), 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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