When Sam first moved to Belgium, he didn't trust passive investing.
He'd come from Brazil, where the base interest rate today sits at 15% and where bank deposits can earn returns Belgian savers can only dream of. He'd also spent years trying to catch up financially through day trading.
Everyone says you eventually make money on day trading. I never did. I lost a lot of money.
So when he started looking into long-term, hands-off investing in Belgium, he was sceptical. Could a balanced index portfolio really compete with a self-managed setup or with the kind of active picks that, on a good day, pay off big?
He decided to find out the only way that made sense: by running all three at once.
How Sam tested Curvo, DEGIRO, and a trading account side by side
Sam set up three accounts in parallel:
- Curvo: long-term, hands-off, automated index investing.
- DEGIRO: a self-managed ETF portfolio he picked himself. He chose DEGIRO partly because of how taxes work for Belgian investors there, after reading Curvo's own articles on the topic.
- A swing-trading account: picking individual markets, including specific bond positions and Asian-market exposure he wanted control over.
He's been running all three for nearly five years.
How did the returns compare after five years?
On returns alone, the experiment was nearly a tie.
They are very close to each other. Depending on the period you look at, one is better than the other.
But returns are only one variable.
The DEGIRO portfolio works, but it requires regular attention. "It does require some balancing from time to time."
The trading account works in spurts, but rarely for long. "Trading is really active. Otherwise the drawdown is too big."
And every time Sam thought he was getting good at picking markets, the macro reminded him otherwise.
When I think I'm really nailing it, some Trump comes in and I lose a lot of money.
Curvo, meanwhile, just kept going.
Why Sam chose Curvo over self-managed ETFs
When returns are close to identical, the deciding factor is everything else: the time, the stress, the constant rebalancing.
Curvo wins because I can just forget about it. That's the goal.
Sam still keeps the other accounts. The swing-trading account scratches the itch to pick specific markets. DEGIRO holds the bond and Asian-market positions he wants control over. But the bulk of his long-term capital, including the accounts he's set up for his three children, sits in Curvo.
Sam's advice for new investors
Sam doesn't sugarcoat it.
In the long term, beating an index is really difficult.
His advice to parents and friends now is the same one he'd give his younger self: start early, stay passive, and stop trying to outsmart the market.
If I'd had that mindset before, I would be much better off.
You might be wondering
Is Curvo better than DEGIRO for Belgian investors?
Sam ran both platforms for nearly five years and found the returns were very close. The difference was effort: his DEGIRO portfolio required regular rebalancing, while Curvo ran on autopilot. "Curvo wins because I can just forget about it. That's the goal."
Can you beat an index fund by picking your own ETFs?
In Sam's experience, no. After years of managing his own ETF portfolio on DEGIRO and actively trading on a third account, his returns were nearly identical to his Curvo index portfolio. "In the long term, beating an index is really difficult."
Is Curvo safe and trustworthy?
Sam started with small amounts to test the platform before committing more. After nearly five years, he keeps the bulk of his long-term capital on Curvo, including investment accounts for his three children.