asset growth
The asset growth anomaly on SAO returned 10.57% CAGR over 25 years with a max drawdown of just -9.6%, beating the Bovespa by +1.87% annually. That's the best drawdown of any exchange we tested. In a market known for violent swings, it paired strong returns with rare capital preservation.
asset growth
The asset growth anomaly on TSX-listed Canadian stocks returned 7.52% annually from 2000-2025, beating the TSX Composite by +3.57% per year. With a 0.824 beta and 53.08% down capture, the quality-filtered screen delivers genuine alpha over its local benchmark while cutting downside nearly in half.
asset growth
We backtested the asset growth anomaly with quality filters across all US exchanges (NYSE, NASDAQ, AMEX) from 2000 to 2025. 12.78% CAGR vs 7.85% for the S&P 500. During the dot-com bust, the portfolio gained 26% while the market lost 34%. Capital discipline beats aggressive expansion.
interest coverage
We ran the same interest coverage screen on 13 exchanges from Tokyo to Stockholm to New York, each measured against its local benchmark. 11 of 13 beat their local market. NSE (India) led at 17.4% CAGR, +6.2% vs Sensex. Sweden (STO) is the best risk-adjusted result at 0.523 Sharpe.
interest coverage
We backtested an interest coverage screen with quality filters across 25 years of US stock data (NYSE, NASDAQ, AMEX). 8.15% CAGR vs 8.02% for the S&P 500. The real story is crisis protection: +89 percentage points of cumulative excess return during the dot-com bust.
asset growth
The asset growth anomaly on JPX-listed Japanese stocks returned 6.99% CAGR from 2000-2025, beating the Nikkei 225 by +3.68% annually with a 60% win rate. Max drawdown of -29.29% vs -50.38% for the Nikkei. Capital discipline works in Japan, especially during crisis years.
asset growth
We ran the same asset growth screen on 16 exchanges from London to Tokyo. 14 of 16 beat their local benchmark. The UK led with +9.72% vs FTSE 100. Switzerland (+4.83% vs SMI), US (+4.93% vs SPY), and Sweden (+3.78% vs OMX) follow. Local benchmarks changed the story.
value investing
Low P/E with quality filters returned 13.6% annually on LSE-listed stocks from 2000-2025. That's +12.2% over the FTSE 100 (1.4% CAGR). Highest quarterly win rate (67%) and best Sharpe (0.370) of any exchange tested. Max drawdown -43.1%.
value investing
We backtested a low P/E value screen with quality filters across 25 years of US stock data (NYSE, NASDAQ, AMEX). 13.9% CAGR vs 8.0% for the S&P 500, with significant sector concentration in financials and energy.
value investing
Low P/E with quality filters returned 16.9% CAGR on BSE and 13.7% on NSE over 25 years, beating the Sensex by +5.8% and +2.6% respectively. Max drawdown hit -67%.
value investing
Low P/E with quality filters returned 14.4% annually on HKSE-listed stocks from 2000-2025. That's +12.6% over the Hang Seng Index (1.8% CAGR). The catch: 38.5% volatility, -59% max drawdown, and a 2024-2025 spike that needs an asterisk.
value investing
QARP returned 9.2% on BSE and 8.6% on NSE, trailing the Sensex at 11.4%. But max drawdown was a third of the index. In India, QARP is a risk tool, not an alpha generator.