Editing Openai/6936126b-3ed0-8003-aa64-374e59b4ad27 (section)

===== - You invest £20,000 once per year on 7-Dec of each year 2020, 2021, 2022, 2023 and 2024 (5 contributions; total invested £100,000). =====
* On each contribution date you buy equal weights of that year’s Top 5 US stocks by market cap (I used year-end/top-5 snapshots from public lists). Wikipedia<ref>{{cite web|title=Wikipedia|url=https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization|publisher=en.wikipedia.org|access-date=2025-12-07}}</ref>
* Each holding is left in place until the next annual re-check (7-Dec). On each 7-Dec any holding no longer in that year’s top-5 is sold that day and the cash is immediately reinvested equally into the current top-5. (Exactly your rule.)
* I used published annual total returns (price + dividends reinvested) for each stock to step year-to-year (sources noted below). Example source pages used: Apple, Amazon, Alphabet, NVIDIA annual returns. Total Real Returns<ref>{{cite web|title=Total Real Returns|url=https://totalrealreturns.com/n/AAPL|publisher=Total Real Returns|access-date=2025-12-07}}</ref>
* Transaction cost (approx): 0.1% per trade (buy or sell) was applied.
* Fractional shares allowed.
* IMPORTANT — FX: this is an approximate USD-return based calculation and I did not apply explicit historical USD→GBP conversion in the quick run (i.e., results reflect the USD total-return behaviour applied to the GBP cashflows). If you want GBP-accurate results I’ll add historical FX conversion in a precise run.
* This is a coarse, approximate result (fast). Exact daily backtest will differ (I can do the precise version if you want).