FCF growth
Canada is the only market in our 13-exchange FCF growth study where the strategy produces both positive alpha (+0.54% excess CAGR) and negative down capture (-15.44%) simultaneously. When SPY had a down year, this portfolio averaged a small gain.
FCF growth
We ran the same FCF growth screen across 13 exchanges over 25 years. Only 3 beat SPY on CAGR. The real story is in the down capture column — the signal works as a downside shield across most markets even where it fails to generate alpha.
FCF growth
German FCF growth stocks outperformed the S&P 500 over 25 years — the only European exchange in our 13-market study to do so. 8.33% CAGR vs 7.83% SPY, with 97% up capture and 60% down capture. Modest edge, consistent protection.
FCF growth
$10,000 grew to $327,183 over 25 years using a free cash flow growth screen on Indian stocks. 14.97% CAGR, +7.14% above SPY, and a 2.85% down capture ratio that barely moved during global bear markets.
FCF growth
We backtested FCF growth stocks across NYSE, NASDAQ, AMEX from 2000 to 2025. The strategy absorbs crashes at half the rate of SPY (50.6% down capture) but trails on absolute return (5.98% vs 7.83% CAGR). Honest results from a 25-year run.