Testing Portfolios, 2025

We have just released the 2025 edition of testing portfolios for the q-data library based on "Replicating Anomalies" [Podcast]. Please see:

https://global-q.org/testingportfolios.html

In 2024, the profitability and momentum portfolios have performed well. Across the 50 anomaly variables, the high-minus-low profitability decile earns on average 26.88%. And across the 42 variables, the high-minus-low momentum decile earns on average 16.72%.

Alas, the value and investment portfolios have performed poorly. The value portfolios earn on average -26.88%, and the investment portfolios -9.24%.