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ProShares UltraShort Russell2000 backtest

10 trend-following strategies were compared on the full daily history of ProShares UltraShort Russell2000. 10 beat buy-and-hold CAGR; 볼린저 밴드 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 0.0%, MDD -46.6%).

Data 2007-01-25 ~ 2026-07-31daily bars 4,910 (19.5 years)Costs 0.5%Venue XASEMonthly snapshot 2026-07-31

Results by strategy

10 of 10 beat buy and hold (CAGR -29.9%, drawdown -100.0%).

Sharpe leader (same as main): 볼린저 밴드 돌파 — CAGR 0.6%, MDD -51.8%, Sharpe 0.15, 5% exposure.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 30.5%p higher than buy and hold, while drawdown improves by 48.1%p (CAGR 0.0%, MDD -46.6%, exposure 2%).

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=53, k=3.4
0.6%-51.8%0.150.011.1x145%
Keltner 채널 돌파
emaPeriod=14, atrPeriod=14, mult=3.4
0.0%-46.6%0.080.001.0x162%
EMA 크로스오버
fast=8, slow=152
-7.2%-87.9%-0.06-0.080.2x4418%
Donchian 채널 돌파
entryN=85, exitN=25
-6.2%-82.4%-0.07-0.080.3x3012%
ADX / DI 방향성
period=22, threshold=30
-3.2%-67.2%-0.09-0.050.5x163%
Supertrend
period=13, mult=4
-13.2%-96.5%-0.20-0.140.1x8634%
SMA 크로스오버
fast=58, slow=192
-11.7%-94.9%-0.26-0.120.1x2420%
Parabolic SAR
step=0.005, maxStep=0.28
-15.3%-97.3%-0.29-0.160.0x19135%
ROC 모멘텀
n=114, threshold=0.07
-15.2%-97.3%-0.34-0.160.0x15016%
MACD
fast=14, slow=34, signal=13
-20.0%-99.4%-0.38-0.200.0x28552%
Buy and hold-29.9%-100.0%-0.47-0.300.0x1100%
0.001 0.01 0.1 1x 2008 2011 2014 2017 2020 2023 2026 볼린저 밴드 돌파Buy and hold
볼린저 밴드 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -25% -50% -75% -100% 2008 2011 2014 2017 2020 2023 2026 Buy and hold볼린저 밴드 돌파
볼린저 밴드 돌파 maximum drawdown -51.8% (2008-11-20 → 2018-10-16), recovered after 4,130 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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