Periodo 2004-10 → 2026-07. Capitale iniziale 49,957 €. Costi IBKR, tasse in dichiarativo.
| Strategia | CAGR netto | Volatilità | Sharpe | Max DD | Peggior anno | Recupero (mesi) | Liquidazione netta |
|---|---|---|---|---|---|---|---|
| VAA | 1.7% | 12.3% | 0.20 | -31.3% | -10.7% | — | 72,573 € |
| Blend 40/60 | 6.6% | 10.0% | 0.69 | -30.1% | -18.9% | 62 | 173,418 € |
| VWCE | 9.1% | 13.5% | 0.72 | -49.7% | -37.5% | 69 | 258,113 € |
Costo di costi+tasse: 5.38% di CAGR l'anno (lordo 7.1% → netto 1.7%).
| Strategia | Rolling 3a min | mediana | max |
|---|---|---|---|
| VAA | -8.1% | 1.4% | 14.8% |
| Blend 40/60 | -10.7% | 6.1% | 14.8% |
| VWCE | -17.6% | 10.0% | 21.2% |
| Anno | VAA | Blend 40/60 | VWCE |
|---|---|---|---|
| 2004 | -6.6% | -1.4% | 2.1% |
| 2005 | 61.2% | 40.4% | 26.6% |
| 2006 | 2.4% | 5.4% | 7.4% |
| 2007 | -8.4% | -5.0% | -2.7% |
| 2008 | 9.1% | -18.9% | -37.5% |
| 2009 | 7.9% | 20.0% | 28.0% |
| 2010 | -4.5% | 11.2% | 21.7% |
| 2011 | 5.1% | -0.9% | -4.9% |
| 2012 | 1.2% | 9.3% | 14.6% |
| 2013 | -6.6% | 7.8% | 17.4% |
| 2014 | 15.4% | 16.7% | 17.5% |
| 2015 | -1.1% | 5.0% | 9.1% |
| 2016 | 7.4% | 10.0% | 11.8% |
| 2017 | -10.7% | 1.2% | 9.1% |
| 2018 | 1.5% | -3.0% | -6.0% |
| 2019 | 6.7% | 20.3% | 29.3% |
| 2020 | 1.6% | 4.0% | 5.5% |
| 2021 | 4.1% | 18.3% | 27.7% |
| 2022 | -10.7% | -12.3% | -13.4% |
| 2023 | -3.1% | 9.2% | 17.4% |
| 2024 | 3.8% | 15.7% | 23.6% |
| 2025 | -8.9% | 1.2% | 7.9% |
| 2026 | -10.3% | 4.3% | 14.1% |
| Anno | Imposta 26% | IVAFE |
|---|---|---|
| 2004 | 0 € | 94 € |
| 2005 | 2,191 € | 155 € |
| 2006 | 9,669 € | 174 € |
| 2007 | 413 € | 142 € |
| 2008 | 5,053 € | 164 € |
| 2009 | 4,437 € | 175 € |
| 2010 | 4,219 € | 167 € |
| 2011 | 5,274 € | 178 € |
| 2012 | 3,225 € | 176 € |
| 2013 | 2,053 € | 162 € |
| 2014 | 3,592 € | 190 € |
| 2015 | 5,050 € | 191 € |
| 2016 | 2,498 € | 199 € |
| 2017 | 1,430 € | 176 € |
| 2018 | 2,324 € | 180 € |
| 2019 | 3,862 € | 195 € |
| 2020 | 3,403 € | 197 € |
| 2021 | 3,652 € | 206 € |
| 2022 | 1,791 € | 181 € |
| 2023 | 668 € | 173 € |
| 2024 | 3,724 € | 186 € |
| 2025 | 1,575 € | 165 € |
| 2026 | 486 € | 147 € |
Run diagnostica in USD lordo: CAGR 11.1%, max drawdown -19.6%.
Log completo in trades_vaa.csv.
| date | asset | side | qty | price | value | cost | tax |
|---|---|---|---|---|---|---|---|
| 2025-05-31 | TREASURY | SELL | 425.639762 | 188.223220 | 80115.286496 | 67.092229 | 0.000000 |
| 2025-05-31 | TBILL | BUY | 610.653120 | 130.976502 | 79981.209299 | 66.984967 | 0.000000 |
| 2025-06-30 | TBILL | SELL | 610.653120 | 127.452608 | 77829.332653 | 65.263466 | 0.000000 |
| 2025-06-30 | CORP_IG | BUY | 344.542379 | 225.513362 | 77698.910059 | 65.159128 | 0.000000 |
| 2025-07-31 | CORP_IG | SELL | 344.542379 | 230.667398 | 79474.694217 | 66.579755 | 461.703881 |
| 2025-07-31 | US_EQ | BUY | 94.525585 | 839.366837 | 79341.641149 | 66.473313 | 0.000000 |
| 2025-08-31 | US_EQ | SELL | 94.525585 | 840.961874 | 79492.412958 | 66.593930 | 39.200670 |
| 2025-08-31 | TREASURY | BUY | 422.313259 | 187.915794 | 79359.331563 | 66.487465 | 0.000000 |
| 2025-09-30 | TREASURY | SELL | 422.313259 | 187.792184 | 79307.129459 | 66.445704 | 0.000000 |
| 2025-09-30 | EM_EQ | BUY | 124.788105 | 634.470283 | 79174.344280 | 66.339475 | 0.000000 |
| 2025-11-30 | EM_EQ | SELL | 124.788105 | 654.964611 | 81731.792631 | 68.385434 | 664.936571 |
| 2025-11-30 | INTL_EQ | BUY | 201.212038 | 405.518139 | 81595.131092 | 68.276105 | 0.000000 |
| 2025-12-31 | INTL_EQ | SELL | 201.212038 | 411.803077 | 82859.736320 | 69.287789 | 328.797359 |
| 2025-12-31 | TBILL | BUY | 637.117069 | 129.836847 | 82721.271514 | 69.177017 | 0.000000 |
| 2026-01-31 | TBILL | SELL | 637.117069 | 128.252208 | 81711.670849 | 68.369337 | 0.000000 |
| 2026-01-31 | CORP_IG | BUY | 348.089764 | 229.354197 | 79835.848093 | 66.868678 | 0.000000 |
| 2026-02-28 | CORP_IG | SELL | 348.089764 | 234.720271 | 81703.723699 | 68.362979 | 485.647657 |
| 2026-02-28 | EM_EQ | BUY | 108.824431 | 749.529371 | 81567.107034 | 68.253686 | 0.000000 |
| 2026-03-31 | EM_EQ | SELL | 108.824431 | 698.239758 | 75985.544086 | 63.788435 | 0.000000 |
| 2026-03-31 | TBILL | BUY | 570.292204 | 133.016143 | 75858.069195 | 63.686455 | 0.000000 |
| 2026-05-31 | TBILL | SELL | 570.292204 | 131.683513 | 75098.080956 | 63.078465 | 0.000000 |
| 2026-05-31 | EM_EQ | BUY | 90.044063 | 832.614862 | 74972.024871 | 62.977620 | 0.000000 |
| 2026-07-31 | EM_EQ | SELL | 90.044063 | 815.046462 | 73390.094797 | 61.712076 | 0.000000 |
| 2026-07-31 | INTL_EQ | BUY | 151.999911 | 482.018500 | 73266.769306 | 61.613415 | 0.000000 |
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: papers.ssrn.com, allocatesmartly.com. Replica, codice e verifiche: Federico Caruso. Vedi anche le note legali.