Transparent and reliable data is the core of our simulation. Here is how we collect and process the data.
We estimate dividend yields by comparing the 'Adjusted Close' (which includes reinvested dividends) with the standard 'Close' price from Yahoo Finance. By reverse-engineering the difference, we extract the pure dividend reinvestment effect.
The simulation assumes a 'Beginning of Month' investment strategy. To technically implement this, we execute buy orders using the 'Previous Month's Close' price and exchange rate. For example, the investment for February is processed using January's closing market data. This accurately captures the currency impact (FX rate at the time of exchange) and the cost-averaging effect.
Market data including Adjusted Close prices are sourced from Yahoo Finance.
Sourced from Yahoo Finance. Historical data prior to 2015 is based on Kraken exchange data.
Official Consumer Price Index (CPI) data is sourced from FRED (Federal Reserve Economic Data).
Primary exchange rate data comes from FRED. Missing historical data is supplemented using TradingView.
Expense ratios of ETFs are naturally incorporated into the historical price data.
Trading fees, spread costs, FX conversion fees, and taxes (Capital Gains, Dividend Tax) are NOT included.
Dividends are assumed to be reinvested immediately upon receipt. No cash drag from delayed reinvestment.
We assume every penny is invested. In reality, you may need to buy whole shares, leaving some cash uninvested.
The following expense ratios are reflected in the historical data (as of Jan 2026).
| Ticker | Name | Expense Ratio |
|---|---|---|
| SPY | SPDR S&P 500 ETF Trust | 0.0945% |
| QQQ | Invesco QQQ Trust | 0.20% |
| ACWI | iShares MSCI ACWI ETF | 0.32% |
| SCHD | Schwab US Dividend Equity ETF | 0.06% |
| VYM | Vanguard High Dividend Yield ETF | 0.06% |
| JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | 0.35% |
| SOXX | iShares Semiconductor ETF | 0.35% |
| XLK | Technology Select Sector SPDR Fund | 0.09% |
| XLE | Energy Select Sector SPDR Fund | 0.09% |
| VGK | Vanguard FTSE Europe ETF | 0.06% |
| EWG | iShares MSCI Germany ETF | 0.50% |
| EWJ | iShares MSCI Japan ETF | 0.49% |
| EWY | iShares MSCI South Korea ETF | 0.59% |
| EWT | iShares MSCI Taiwan ETF | 0.59% |
| MCHI | iShares MSCI China ETF | 0.59% |
| GLD | SPDR Gold Shares | 0.40% |
| SLV | iShares Silver Trust | 0.50% |