ETF Settoriali Difensivi: funzionano DAVVERO?

This video examines the effectiveness of defensive equity ETFs in the Consumer Staples, Utilities, and Healthcare sectors, analyzing market history over a 100-year time frame, from 1926 to 2026. Using a regression based on the Fama-French five-factor model, it is demonstrated that historical excess returns are not intrinsic alpha, but rather the result of indirect exposure to profitability and investment factors. __________________________________________________________________ Sources: Python Engine https://drive.google.com/file/d/150IT... MSCI WORLD "TYPICAL" SECTOR ETFs https://www.justetf.com/en/etf-profil... https://www.justetf.com/en/etf-profil... https://www.justetf.com/en/etf-profil... US REFERENCE ETFs THAT TESTFOL.IO HAS SIMULATED https://www.ssga.com/us/en/intermedia... https://www.ssga.com/us/en/intermedia... https://www.ssga.com/us/en/intermedia... REGRESSION DEFENSIVE ETFS https://testfol.io/factor-regression?... https://testfol.io/factor-regression?... https://testfol.io/factor-regression?... BACKTEST https://testfol.io/?s=lk0Uw1OMmBS https://testfol.io/?s=9oENuOpZznl https://testfol.io/?s=6EddzzuXf5m https://testfol.io/?s=9ShcTg9yfSD ________________________________________________________________ TIMESTAMP 00:00 Is there really a stock market that doesn't crash? 01:31 Historical Analysis: 100 Years of Market Crashes Since 1926 04:37 The Macroeconomic Theory Behind Defensive Sectors 05:27 Testfolio Numbers: S&P 500 Beaten by Healthcare? 6:55 Portfolio Simulation: Defensive "Tilts" 8:23 The Real Problem for Us Italians: The Tax Drag of Rebalancing 11:30 Factor Regression: It's Not Alpha, It's the Fama-French Model 1:48 PM 25/25/25/25 Portfolio After Taxes (Net Liquidation Value) 4:40 PM Rolling Returns: Comparing Historical Returns Over the Long Term 7:43 PM Value at Risk (VaR): Real Protection in Bear Markets (5 Years) 9:29 PM 20-Year Doomsday Scenarios and Expected Shortfall 11:38 PM Idiosyncratic Risk: How Many Companies Are You Really Buying? 3:43 PM Sector vs. MSCI World Quality and Minimum Volatility 10:50 PM Sector-Specific Risks (Interest Rates and Politics) & Conclusions ________________________________________________________________ 📩 Contact me by email to discuss independent financial advice and see how I can help you: [email protected]