federicocaruso.com · analisi 2026-07-06

Golden Butterfly con la fiscalità italiana

Periodo 2003-05 → 2026-07. Capitale iniziale 49,945 €. Costi IBKR, tasse in dichiarativo.

Equity line: Golden Butterfly, Blend 40/60, VWCE, Golden Butterfly lordo (diagnostica)

Metriche

StrategiaCAGR nettoVolatilitàSharpeMax DDPeggior annoRecupero (mesi)Liquidazione netta
Golden Butterfly7.5%9.0%0.85-12.5%-8.4%47230,601 €
Blend 40/608.8%10.6%0.86-34.0%-22.9%42286,129 €
VWCE9.4%13.4%0.74-49.8%-37.6%69304,805 €

Costo di costi+tasse: 0.91% di CAGR l'anno (lordo 8.4% → netto 7.5%).

Drawdown Rolling 3 anni
StrategiaRolling 3a minmedianamax
Golden Butterfly-3.1%7.5%18.5%
Blend 40/60-11.1%8.9%18.9%
VWCE-17.7%10.3%21.2%
Rendimenti annuali
AnnoGolden ButterflyBlend 40/60VWCE
20033.2%10.1%14.7%
20041.4%4.0%5.8%
200524.1%25.6%26.6%
20060.5%4.7%7.5%
2007-2.9%-2.8%-2.7%
2008-0.9%-22.9%-37.6%
20095.8%19.2%28.1%
201024.3%22.8%21.7%
201112.0%1.8%-5.0%
20126.4%11.3%14.6%
2013-0.4%10.3%17.4%
201422.2%19.4%17.6%
20157.3%8.4%9.1%
201613.9%12.6%11.8%
2017-2.5%4.5%9.1%
2018-0.4%-3.8%-6.0%
201919.8%25.5%29.3%
20205.4%5.4%5.5%
202117.6%23.7%27.7%
2022-8.4%-11.4%-13.4%
20236.8%13.2%17.4%
202418.1%21.4%23.6%
20253.4%6.1%7.9%
20266.7%11.1%14.1%

Da dove vengono i rendimenti

Contributi per asset

Tasse pagate per anno (Golden Butterfly)

AnnoImposta 26%IVAFE
20030 €103 €
2004222 €105 €
20050 €130 €
20060 €131 €
2007394 €128 €
2008809 €127 €
20090 €133 €
2010631 €167 €
20111,191 €188 €
20120 €197 €
20131,212 €199 €
20141,574 €243 €
20150 €257 €
20160 €293 €
20170 €286 €
20182,916 €290 €
20190 €341 €
20205,678 €371 €
20211,960 €427 €
20220 €387 €
20233,059 €420 €
20240 €488 €
20254,113 €513 €
20264,140 €547 €

Diagnostica USD lorda

Run diagnostica in USD lordo: CAGR 8.5%, max drawdown -18.0%.

Ultimi ribilanciamenti

Log completo in trades_golden-butterfly.csv.

date asset side qty price value cost tax
2020-11-30 US_SCV SELL 27.580083 346.004690 9542.838116 10.634270 1391.236174
2020-11-30 TREASURY_LONG BUY 23.496090 296.708362 6971.486265 8.577189 0.000000
2020-11-30 TBILL BUY 53.165215 117.836550 6264.805499 8.011844 0.000000
2020-11-30 GOLD BUY 5.876783 433.086032 2545.152445 5.036122 0.000000
2021-02-28 US_EQ SELL 4.121422 449.175601 1851.242127 4.480994 364.270719
2021-02-28 US_SCV SELL 21.889397 432.440022 9465.851265 10.572681 1596.102484
2021-02-28 TREASURY_LONG BUY 14.719594 263.085428 3872.510727 6.098009 0.000000
2021-02-28 TBILL BUY 1.378707 116.452159 160.553359 3.128443 0.000000
2021-02-28 GOLD BUY 2.912234 415.441804 1209.863634 3.967891 0.000000
2023-07-31 US_EQ SELL 14.916891 615.738814 9184.908766 10.347927 1964.422626
2023-07-31 US_SCV SELL 5.323565 516.457890 2749.397066 5.199518 504.468144
2023-07-31 GOLD SELL 8.274719 513.322323 4247.597749 6.398078 589.818496
2023-07-31 TREASURY_LONG BUY 52.989275 212.849756 11278.754127 12.023003 0.000000
2023-07-31 TBILL BUY 16.911045 123.601397 2090.228784 4.672183 0.000000
2025-03-31 US_EQ SELL 4.991041 784.041494 3913.182870 6.130546 875.677328
2025-03-31 GOLD SELL 21.254034 825.075580 17536.184533 17.028948 3237.742445
2025-03-31 US_SCV BUY 13.019207 521.826825 6793.771545 8.435017 0.000000
2025-03-31 TREASURY_LONG BUY 36.529058 210.537651 7690.742102 9.152594 0.000000
2025-03-31 TBILL BUY 21.613098 136.579310 2951.902019 5.361522 0.000000
2026-01-31 US_EQ SELL 2.643243 887.183199 2345.040830 4.876033 534.640041
2026-01-31 US_SCV SELL 4.587133 594.865451 2728.726689 5.182981 465.774379
2026-01-31 GOLD SELL 13.184330 1154.931828 15227.002753 15.181602 3139.163417
2026-01-31 TREASURY_LONG BUY 46.103753 189.604259 8741.467931 9.993174 0.000000
2026-01-31 TBILL BUY 53.712013 128.252208 6888.684327 8.510947 0.000000

Assunzioni

Questo contenuto ha finalità esclusivamente informative e didattiche e non costituisce consulenza finanziaria, raccomandazione personalizzata né sollecitazione all'investimento. I rendimenti passati e i risultati di backtest non sono indicativi di risultati futuri. Le assunzioni fiscali riflettono un caso specifico (regime dichiarativo) e possono non applicarsi alla tua situazione. Strategia originale: portfoliocharts.com, www.lazyportfolioetf.com. Replica, codice e verifiche: Federico Caruso. Vedi anche le note legali.