diff --git a/sanguo_portfolio/runner_backtest.py b/sanguo_portfolio/runner_backtest.py
index 743438f..419f6ba 100644
--- a/sanguo_portfolio/runner_backtest.py
+++ b/sanguo_portfolio/runner_backtest.py
@@ -223,11 +223,18 @@ def run_backtest(args: argparse.Namespace) -> Dict[str, Any]:
     我们把策略类包成 initialize 函数:initialize 闭包挂 run_daily 等。
     """
     from bullet_trade import BacktestEngine  # type: ignore
+    from bullet_trade.core.settings import set_benchmark as bt_set_benchmark  # type: ignore
     from bullet_trade.data.api import set_data_provider  # type: ignore
 
     provider = build_provider(args.provider, args.provider_config)
     set_data_provider(provider)
 
+    # bullet_trade 0.9.x: BacktestEngine(benchmark=) 构造参数不生效(构造器收而不用),
+    # 引擎只认 set_benchmark() 设的全局 settings → 必须显式设,否则 benchmark_data
+    # 恒 None(VPS 冒烟实测:基准曲线空)。每次 run 都设,幂等。
+    if getattr(args, "benchmark", ""):
+        bt_set_benchmark(args.benchmark)
+
     # 占位策略:initialize 里把 self(strategy)挂到聚宽风格定时器
     holder: Dict[str, Any] = {}