Comparison · updated September 2026
MEDGE vs testfolio: research the allocation, or diagnose the portfolio
testfolio is one of the best free backtesters available: daily data, simulated histories back to the 1920s and deep rebalancing research. MEDGE starts where the backtest ends — why each holding helped or hurt, how it behaves in bear and bull markets, what happens if you change it, and what your worst-case scenario does to it.
Published by MEDGE Capital. testfolio details from its public site and public listings, checked in September 2026: testfol.io · pricing. A dash means we could not confirm the feature, not that it is missing.
| testfolio | MEDGE | |
|---|---|---|
| Price | Core tools free; Pro and Pro+ tiers | Free tier (no time limit); paid plans from €14.99/month (Essential), monthly or yearly |
| Data frequency | Daily | Daily |
| History length | Simulated tickers back to the 1920s | Real price history of each instrument only |
| Rebalancing research | Rebalancing bands; a sensitivity tool running hundreds of backtests across frequencies | Five policies (none, monthly, quarterly, yearly, threshold) with transaction costs, compared side by side |
| Cash flows, glidepaths, leverage | Yes | Short positions supported; no glidepaths |
| Why it performed (per holding) | — | Exact attribution for any window, bear/neutral/bull and volatility regimes, holding diagnosis |
| What if (counterfactual replays) | Compare several portfolios in one run | Remove, replace or re-weight a holding and replay with the same rebalancing and costs; marginal effect of each holding |
| Custom stress scenarios | — | Stress Lab: shocks on 45 benchmarks, joint propagation, results per holding |
| Market & regulatory data | — | SEC 13F / Form 4, CFTC positioning, central banks |
Choose testfolio if…
- you want the longest possible history, including simulated funds;
- your question is which allocation or rebalancing rule to use;
- you want everything free.
Choose MEDGE if…
- you need to decide what to change in a real portfolio, holding by holding;
- you want to test a specific scenario — a tech sell-off, a rate shock — rather than a past window;
- you want positioning and macro data in the same place as the analysis.
Frequently asked questions
- Is MEDGE a free testfolio alternative?
- MEDGE has a free tier with no time limit, but it is not a like-for-like replacement. testfolio is excellent — and free — for allocation research over very long histories. MEDGE is built to diagnose and stress test a real portfolio holding by holding.
- Which is better for rebalancing research?
- testfolio, for breadth: its sensitivity tool runs hundreds of backtests across rebalancing frequencies. MEDGE compares five policies with transaction costs on your exact holdings and shows the resulting drift, turnover and cost drag.
- Can I use both?
- Yes, and many investors should: research the allocation over the longest history in testfolio, then bring the actual holdings into MEDGE to see where the risk sits, how each holding behaves in different markets and what your worst-case scenario does to it.
Bring your holdings. See where the risk sits.
Free tier, no brokerage connection. Also see the full comparison of alternatives.
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