FINAXIONResearch
Finaxion Research · Only invest above the 200-day average · single stocks · Recomputed 2026-09-10

Does Only invest above the 200-day average work on BLDR?

Only invest above the 200-day average does not beat buy-and-hold on BLDR: -6.1 points a year over 21 years.

Total return
44.0%
Buy and hold
393.7%
CAGR
1.7%
Sharpe
0.14
Max drawdown
-84.0%
Trades
214
Out of sample
overfit
Years
21
0.1×1×10×20062008201020122014201620182020202220242026
StrategyBLDR

Findings

  1. Only invest above the 200-day average does not beat buy-and-hold on BLDR: -6.1 points a year over 21 years.
  2. Against the S&P 500 over the same window: -9.4 points a year.
  3. Total return +44.0% versus +393.7% for buy-and-hold, with 214 trades.
  4. The result does not hold out of sample: it is overfit.
  5. Maximum drawdown -84.0%.
  6. It beat before 2016 and stopped afterwards.
  7. It ranks #197 of 235 markets for this strategy by annual excess over the S&P 500.

Findings derived from the full panel. Each carries its number and its denominator; the computations are reproducible with artifact 7a691ad4255c.

Exactly what was tested

Long while the close is above the 200-day SMA; exit when the close crosses below it. Next-close execution.

How to read it

The verdict compares the strategy with buying and holding BLDR over the same window, with round-trip costs per asset class. “Out of sample” is walk-forward: the rule is fit on one stretch and judged on the next. A result that beats in the full sample but not out of it is overfit. Full methodology in the protocol. How we test.

Open this backtest with its trades   Trades (CSV)

Every strategy on BLDR → · Full page for Only invest above the 200-day average →

How to cite

Finaxion Research (2026). Does Only invest above the 200-day average work on BLDR?. Daily backtest 1962-01-01–2026-08-31, artifact 7a691ad4255c. https://finaxion.app/en/research/200-day-sma-filter/bldr

Not a recommendation. Past performance does not guarantee future results.