etf
We backtested a portfolio of the 30 least ETF-owned quality stocks on Indian markets (BSE + NSE) over 20 years. Result: 4.47% CAGR vs 10.61% for SPY, but a 50% win rate and +35.7% excess return in 2008. India's concentrated ETF market creates real pockets of under-coverage.
etf
We backtested a portfolio of the 30 least ETF-owned quality A-shares over 20 years. Result: 8.75% CAGR vs 10.61% for SPY, the closest to matching the benchmark among strong-signal exchanges. But two Chinese bull markets (2006, 2014) account for most of the outperformance.
etf
We backtested a portfolio of the 30 least ETF-owned quality stocks on XETRA over 20 years. Result: 7.12% CAGR vs 10.61% for SPY, but the best Sharpe ratio (0.260) among all strong-signal exchanges. Germany's Mittelstand offers the most efficient anti-crowding returns.
etf
We backtested a portfolio of the 30 least ETF-owned quality stocks on US markets over 20 years. Result: 4.56% CAGR vs 10.61% for SPY. Under-owned stocks don't outperform. Here's why.
etf
We ran the same anti-crowding screen on 18 stock exchanges. Only 2 showed positive excess returns, both with diluted signals. Among exchanges where the portfolio genuinely held under-owned stocks, all 7 underperformed.
etf
Germany is the one market where quality stocks ignored by ETFs actually work. 9.23% CAGR, 0.460 Sharpe, -29.26% max drawdown over 20 years. The Mittelstand's structural ETF blind spot creates a genuine opportunity.
etf
We screened 18 exchanges for quality stocks held by fewer than 10 ETFs. Only Germany produced competitive returns (9.23% CAGR). The US returned 0.90%. Six exchanges had zero qualifying stocks. The orphan thesis is a global negative result.
etf
We backtested a portfolio of the 30 least ETF-owned quality stocks on US markets over 20 years. Result: 6.56% CAGR vs 10.61% for SPY. Avoiding passive-owned stocks doesn't help. Here's why.
etf
We backtested a portfolio of quality stocks held by fewer than 10 ETFs over 20 years. Result: 0.90% CAGR vs 10.61% for SPY. The ETF orphan thesis fails. Quality stocks outside ETFs are underowned for a reason.
etf
We tested whether low ETF ownership stocks outperform on 15 exchanges worldwide. Only 2 showed slim positive excess. The passive premium is real and it's global.
etf
We tested whether Indian stocks with low ETF ownership outperform over 20 years. Result: 5.73% CAGR vs SPY's 10.61%. The passive premium crosses borders.