IEMG iShares Core MSCI Emerging Markets ETF
TREND FOLLOWING PERFORMANCE HISTORY
2026-05-31
Executive Summary
The quantitative backtest for IEMG (iShares Core MSCI Emerging Markets ETF) using the Excess Return MMA CA* strategy in a Investing context demonstrated its primary role in risk mitigation, experiencing a maximum drawdown of -20.7% (compared to the benchmark's drawdown of -38.7%). Over the evaluated period, this protective approach generated a Compound Annual Growth Rate (CAGR) of 5.1%, compared to a Buy-and-Hold benchmark return of 7.5%. The strategy executed 39 total trades.
* Excess Return MMA CA: Multi-Moving Average (Triple-Band) model utilizing sophisticated long/short cross durations optimized against volatility, with a month-end dynamic Cash Alternative sleeve rotation.
* Excess Return MMA CA: Multi-Moving Average (Triple-Band) model utilizing sophisticated long/short cross durations optimized against volatility, with a month-end dynamic Cash Alternative sleeve rotation.
📊 Mathematical Model
Excess Return MMA
Advanced Ensemble: Uses multiple signal layers for maximum trend stability and noise reduction.
Excess Return MMA CA Active
Advanced Dynamic Sleeve: MMA ensemble signals on the primary asset combined with a momentum-based cash alternative ETF rotation.
Excess Return SMA
Standard Signal: Classical quantitative trend following optimized for reliable directionality.
Moving Average (50/200)
Moving Average: The baseline 50/200-day crossover model used by technical analysts worldwide.
IEMG Quality Metrics & KPI Summary
| Metric | 1Y | 5Y | 10Y | Full History | ||||
|---|---|---|---|---|---|---|---|---|
| Strategy | B&H | Strategy | B&H | Strategy | B&H | Strategy | B&H | |
| CAGR | 37.23% | 49.74% | 5.05% | 7.25% | 7.52% | 10.48% | 5.10% | 7.47% |
| Sharpe Ratio | 1.76 | 2.10 | 0.41 | 0.38 | 0.57 | 0.50 | 0.41 | 0.36 |
| Max Drawdown | -13.21% | -13.21% | -14.85% | -35.93% | -20.74% | -38.71% | -20.74% | -38.71% |
| % Time Invested | 100.0% | 100.0% | 80.2% | 100.0% | 86.8% | 100.0% | 83.0% | 100.0% |
| Trades / Year | 0.0 | 0.0 | 2.0 | 0.0 | 3.1 | 0.0 | 3.4 | 0.0 |
Cumulative Growth Performance
Return Distribution Analysis
Trade History
This log shows every signal-driven transition. Completed trades reflect standard market cycles. An Open / Mark-to-Market exit denotes a position currently held active, valued at the latest price. Interest entries record cash yields accrued during out-of-market periods.
| Entry Date | Exit Date | Type | Allocation | Entry Price | Exit Price | Net Return % | Exit Reason |
|---|---|---|---|---|---|---|---|
| 2026-04-23 | Open | Open | 33.33% | $77.21 | $83.47 | 8.11% | Mark-to-Market |
| 2026-04-23 | Open | Open | 33.33% | $77.21 | $83.47 | 8.11% | Mark-to-Market |
| 2025-05-01 | Open | Open | 33.33% | $52.80 | $83.47 | 58.10% | Mark-to-Market |
| 2026-03-31 | 2026-04-23 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.21% | Interest Income |
| 2026-03-31 | 2026-04-23 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.21% | Interest Income |
| 2025-05-20 | 2026-03-31 | Completed | 33.33% | $55.63 | $67.54 | 21.41% | Stop |
| 2025-05-02 | 2026-03-31 | Completed | 33.33% | $54.24 | $67.54 | 24.52% | Stop |
| 2025-05-02 | 2025-05-20 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.16% | Interest Income |
| 2025-01-16 | 2025-05-02 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 1.01% | Interest Income |
| 2025-04-08 | 2025-05-01 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 1.21% | Interest Income |
| 2025-04-07 | 2025-05-01 | Interest (FLOT) | 33.33% | $1.00 | $1.02 | 1.61% | Interest Income |
| 2024-04-24 | 2025-04-08 | Completed | 33.33% | $48.25 | $48.25 | 0.01% | Stop |
| 2024-04-08 | 2025-04-07 | Completed | 33.33% | $49.07 | $46.67 | -4.90% | Stop |
| 2024-01-24 | 2025-01-16 | Completed | 33.33% | $46.31 | $50.66 | 9.40% | Signal |
| 2023-06-02 | 2024-04-24 | Interest (FLOT) | 33.33% | $1.00 | $1.06 | 6.14% | Interest Income |
| 2023-10-23 | 2024-04-08 | Interest (FLOT) | 33.33% | $1.00 | $1.03 | 3.21% | Interest Income |
| 2023-10-13 | 2024-01-24 | Interest (FLOT) | 33.33% | $1.00 | $1.02 | 1.83% | Interest Income |
| 2023-04-24 | 2023-10-23 | Completed | 33.33% | $44.14 | $42.24 | -4.31% | Signal |
| 2023-07-25 | 2023-10-13 | Completed | 33.33% | $47.55 | $43.99 | -7.49% | Signal |
| 2023-06-02 | 2023-07-25 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 1.00% | Interest Income |
| 2023-05-11 | 2023-06-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.27% | Interest Income |
| 2023-04-04 | 2023-06-01 | Interest (SHV) | 33.33% | $1.00 | $1.01 | 0.71% | Interest Income |
| 2023-01-19 | 2023-05-11 | Completed | 33.33% | $46.01 | $44.07 | -4.21% | Signal |
| 2023-04-04 | 2023-04-24 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.25% | Interest Income |
| 2022-12-02 | 2023-04-03 | Interest (FLOT) | 33.33% | $1.00 | $1.02 | 1.87% | Interest Income |
| 2022-12-02 | 2023-04-03 | Interest (FLOT) | 33.33% | $1.00 | $1.02 | 1.87% | Interest Income |
| 2022-12-02 | 2023-01-19 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 1.00% | Interest Income |
| 2022-10-04 | 2022-12-01 | Interest (BIL) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2022-10-04 | 2022-12-01 | Interest (BIL) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2022-10-04 | 2022-12-01 | Interest (BIL) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2022-09-02 | 2022-10-03 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.05% | Interest Income |
| 2022-09-02 | 2022-10-03 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.05% | Interest Income |
| 2022-09-02 | 2022-10-03 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.05% | Interest Income |
| 2022-07-05 | 2022-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.26% | Interest Income |
| 2022-03-02 | 2022-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.37% | Interest Income |
| 2022-03-02 | 2022-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.37% | Interest Income |
| 2022-06-07 | 2022-07-05 | Completed | 33.33% | $46.48 | $43.01 | -7.47% | Signal |
| 2022-05-13 | 2022-06-07 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.02% | Interest Income |
| 2022-03-21 | 2022-05-13 | Completed | 33.33% | $48.96 | $43.79 | -10.56% | Stop |
| 2022-03-02 | 2022-03-21 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2022-02-25 | 2022-03-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.08% | Interest Income |
| 2022-01-04 | 2022-03-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2022-01-04 | 2022-03-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2020-08-06 | 2022-02-25 | Completed | 33.33% | $45.51 | $50.93 | 11.91% | Stop |
| 2021-11-17 | 2022-01-03 | Interest (BIL) | 33.33% | $1.00 | $1.00 | -0.01% | Interest Income |
| 2021-11-02 | 2022-01-03 | Interest (BIL) | 33.33% | $1.00 | $1.00 | -0.03% | Interest Income |
| 2020-09-23 | 2021-11-17 | Completed | 33.33% | $44.70 | $55.53 | 24.24% | Signal |
| 2021-09-08 | 2021-11-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2020-07-07 | 2021-09-08 | Completed | 33.33% | $43.42 | $56.53 | 30.18% | Signal |
| 2020-06-02 | 2020-09-23 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 1.15% | Interest Income |
| 2020-06-02 | 2020-08-06 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.98% | Interest Income |
| 2020-06-02 | 2020-07-07 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.57% | Interest Income |
| 2020-05-05 | 2020-06-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.01% | Interest Income |
| 2020-04-02 | 2020-06-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.03% | Interest Income |
| 2020-03-10 | 2020-06-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.08% | Interest Income |
| 2020-03-24 | 2020-05-05 | Completed | 33.33% | $32.74 | $36.51 | 11.52% | Signal |
| 2020-03-24 | 2020-04-02 | Completed | 33.33% | $32.74 | $33.52 | 2.38% | Signal |
| 2020-03-03 | 2020-03-24 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.36% | Interest Income |
| 2020-03-03 | 2020-03-24 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.36% | Interest Income |
| 2019-09-13 | 2020-03-10 | Completed | 33.33% | $42.01 | $39.53 | -5.89% | Stop |
| 2020-03-02 | 2020-03-02 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.05% | Interest Income |
| 2020-03-02 | 2020-03-02 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.05% | Interest Income |
| 2019-12-19 | 2020-03-02 | Completed | 33.33% | $45.02 | $41.26 | -8.34% | Stop |
| 2019-09-13 | 2020-03-02 | Completed | 33.33% | $42.01 | $41.26 | -1.77% | Stop |
| 2019-10-15 | 2019-12-19 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.48% | Interest Income |
| 2019-05-24 | 2019-10-15 | Completed | 33.33% | $39.74 | $41.45 | 4.29% | Signal |
| 2019-08-15 | 2019-09-13 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.37% | Interest Income |
| 2019-07-10 | 2019-09-13 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.57% | Interest Income |
| 2019-06-05 | 2019-08-15 | Completed | 33.33% | $40.74 | $38.94 | -4.41% | Stop |
| 2019-02-21 | 2019-07-10 | Completed | 33.33% | $42.05 | $42.77 | 1.71% | Signal |
| 2019-03-04 | 2019-06-05 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.90% | Interest Income |
| 2019-03-04 | 2019-05-24 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.80% | Interest Income |
| 2019-02-25 | 2019-03-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.04% | Interest Income |
| 2018-12-04 | 2019-03-01 | Interest (SHV) | 33.33% | $1.00 | $1.01 | 0.61% | Interest Income |
| 2018-11-21 | 2019-02-25 | Completed | 33.33% | $39.10 | $42.89 | 9.70% | Signal |
| 2018-12-04 | 2019-02-21 | Interest (SHV) | 33.33% | $1.00 | $1.01 | 0.54% | Interest Income |
| 2018-11-02 | 2018-12-03 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.16% | Interest Income |
| 2018-11-02 | 2018-12-03 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.16% | Interest Income |
| 2018-11-02 | 2018-11-21 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.10% | Interest Income |
| 2018-10-30 | 2018-11-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2018-08-14 | 2018-11-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.45% | Interest Income |
| 2018-05-29 | 2018-11-01 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.89% | Interest Income |
| 2018-07-19 | 2018-10-30 | Completed | 33.33% | $42.08 | $37.15 | -11.71% | Stop |
| 2018-07-23 | 2018-08-14 | Completed | 33.33% | $42.56 | $41.56 | -2.35% | Signal |
| 2018-06-28 | 2018-07-23 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.13% | Interest Income |
| 2018-06-26 | 2018-07-19 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.17% | Interest Income |
| 2018-03-07 | 2018-06-28 | Completed | 33.33% | $46.57 | $41.24 | -11.46% | Stop |
| 2017-02-13 | 2018-06-26 | Completed | 33.33% | $36.14 | $42.31 | 17.08% | Stop |
| 2018-03-07 | 2018-05-29 | Completed | 33.33% | $46.57 | $44.33 | -4.82% | Signal |
| 2018-02-12 | 2018-03-07 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.03% | Interest Income |
| 2018-02-12 | 2018-03-07 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.03% | Interest Income |
| 2017-02-24 | 2018-02-12 | Completed | 33.33% | $36.39 | $45.40 | 24.77% | Stop |
| 2016-07-21 | 2018-02-12 | Completed | 33.33% | $33.35 | $45.40 | 36.16% | Stop |
| 2016-12-29 | 2017-02-24 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.26% | Interest Income |
| 2016-11-02 | 2017-02-13 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2016-04-22 | 2016-12-29 | Completed | 33.33% | $32.11 | $33.09 | 3.06% | Signal |
| 2016-10-04 | 2016-11-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.02% | Interest Income |
| 2016-06-28 | 2016-10-03 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.59% | Interest Income |
| 2016-06-28 | 2016-07-21 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.18% | Interest Income |
| 2016-06-09 | 2016-06-28 | Completed | 33.33% | $31.90 | $30.95 | -2.98% | Stop |
| 2016-06-09 | 2016-06-28 | Completed | 33.33% | $31.90 | $30.95 | -2.98% | Stop |
| 2016-04-04 | 2016-06-09 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2016-04-04 | 2016-06-09 | Interest (FLOT) | 33.33% | $1.00 | $1.01 | 0.52% | Interest Income |
| 2016-04-04 | 2016-04-22 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.24% | Interest Income |
| 2016-03-02 | 2016-04-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2016-03-02 | 2016-04-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2016-03-02 | 2016-04-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2016-02-02 | 2016-03-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2016-02-02 | 2016-03-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2016-02-02 | 2016-03-01 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2015-11-03 | 2016-02-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.11% | Interest Income |
| 2015-11-03 | 2016-02-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.11% | Interest Income |
| 2015-11-03 | 2016-02-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.11% | Interest Income |
| 2015-09-02 | 2015-11-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.02% | Interest Income |
| 2015-09-02 | 2015-11-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.02% | Interest Income |
| 2015-09-02 | 2015-11-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.02% | Interest Income |
| 2015-08-27 | 2015-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2015-08-24 | 2015-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.02% | Interest Income |
| 2015-08-04 | 2015-09-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | 0.00% | Interest Income |
| 2015-08-19 | 2015-08-27 | Completed | 33.33% | $31.47 | $30.42 | -3.34% | Signal |
| 2015-07-13 | 2015-08-24 | Completed | 33.33% | $35.22 | $29.23 | -17.02% | Stop |
| 2015-08-04 | 2015-08-19 | Interest (BIL) | 33.33% | $1.00 | $1.00 | -0.02% | Interest Income |
| 2015-07-30 | 2015-08-04 | Completed | 33.33% | $33.49 | $33.47 | -0.07% | Signal |
| 2015-07-28 | 2015-08-03 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.00% | Interest Income |
| 2015-07-08 | 2015-07-30 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.01% | Interest Income |
| 2014-10-22 | 2015-07-28 | Completed | 33.33% | $36.18 | $33.45 | -7.55% | Stop |
| 2015-07-02 | 2015-07-13 | Interest (SHV) | 33.33% | $1.00 | $1.00 | 0.01% | Interest Income |
| 2015-04-08 | 2015-07-08 | Completed | 33.33% | $38.11 | $33.92 | -10.97% | Stop |
| 2015-03-03 | 2015-07-01 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.23% | Interest Income |
| 2015-03-03 | 2015-04-08 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | 0.16% | Interest Income |
| 2015-02-06 | 2015-03-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.00% | Interest Income |
| 2015-02-03 | 2015-03-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.01% | Interest Income |
| 2014-10-22 | 2015-02-06 | Completed | 33.33% | $36.18 | $35.77 | -1.15% | Signal |
| 2015-01-05 | 2015-02-02 | Interest (BIL) | 33.33% | $1.00 | $1.00 | -0.00% | Interest Income |
| 2014-12-02 | 2015-01-02 | Interest (SHV) | 33.33% | $1.00 | $1.00 | -0.04% | Interest Income |
| 2014-11-07 | 2014-12-01 | Interest (BIL) | 33.33% | $1.00 | $1.00 | -0.02% | Interest Income |
| 2014-10-22 | 2014-11-07 | Completed | 33.33% | $36.18 | $36.10 | -0.22% | Signal |
| 2014-10-20 | 2014-10-22 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.04% | Interest Income |
| 2014-10-20 | 2014-10-22 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.04% | Interest Income |
| 2014-10-20 | 2014-10-22 | Interest (FLOT) | 33.33% | $1.00 | $1.00 | -0.04% | Interest Income |