quality investing
D/E < 0.5 + Piotroski F-Score >= 7 on SET-listed stocks, backtested 2000-2025. 3.76% CAGR vs 5.13% SET Index, trailing by 1.37% annually. Down capture of 66.82%, max drawdown -35.33% vs -35.59%. Defensive characteristics with reasonable upside participation.
quality investing
D/E < 0.5 and Piotroski F-Score >= 7 on LSE stocks across 25 years. 6.19% CAGR vs 1.23% FTSE 100. +4.96% excess with 73.97% down capture. 2016 Brexit rally was the standout. 0 cash periods, 61 avg stocks.
quality investing
D/E < 0.5 + Piotroski F-Score >= 7 across the TSX returned 9.21% CAGR vs 3.95% for TSX Composite (+5.26% excess) over 25 years — with 29.11% down capture. When the Canadian market fell, this portfolio fell far less.
quality investing
D/E < 0.5 + Piotroski F-Score >= 7 on Chinese A-shares (SHH + SHZ), backtested 2000-2025. 5.39% CAGR vs 2.43% SSE Composite. +2.96% excess with 75.04% down capture. Two bubble events: +111.2% in 2006 and +83.8% in 2014. Volatility of 33.24% and max drawdown of -56.24%.
quality investing
We screened XETRA-listed German equities for D/E < 0.5 and Piotroski F-Score >= 7 across 25 years. Result: 6.39% CAGR vs 5.04% for the DAX. +1.35% excess with 51.08% down capture. 0 cash periods, 48 avg stocks.
value investing
We built a systematic quality-value screen using seven quantitative criteria and backtested it across all US exchanges from 2000 to 2025. QARP returned 10.42% annually vs 7.77% for the S&P 500.