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Momentum, Nifty Total Market

Allcap momentum strategy

50 stocks from the Nifty Total Market. Fortnightly rotation.

Written for investors who want growth but read a 25% drawdown as opportunity, not panic.

Moderately High risk band

Invest in Allcap Compare Allcap

01At a glance

Allcap in four numbers.

CAGR
44.70%Model, back tested
Max drawdown
−22.72%Model, back tested
Minimum investment
₹2.25LAbout ₹2,25,000
Fee per rebalance
0.2%Of traded value, nothing else
Allcap, model₹611Nifty 50 TRI, 9.80% CAGR line₹160
100 150 200 300 500

₹100 in the model in Jul 2021 became ₹611 by Jul 2026; the Nifty 50 TRI line reached ₹160. Model, back tested. As of 27 Apr 2026. After charges, log scale. Not a promise of future returns.

02Three steps

Compare. Validate. Invest.

  1. Compare

    Line Allcap up against the other 17 strategies, and against funds, PMS and AIF.

    Compare strategies

  2. Validate the back test

    Every year, month, fall, holding and rebalance is in the factsheet below.

    Open the factsheet

  3. Invest

    Link your broker and approve each rebalance. Stocks stay in your own demat; RupeeCase never holds your money.

    Invest in Allcap
Get the next rebalance by emailThe names in and out, on the morning Allcap rebalances. Every 2 weeks. Free, one click to stop.

03Factsheet

Allcap factsheet

Every figure behind the four numbers, in seven parts. Return figures are model, back tested and after charges; each block names its date.

PDF factsheet

Performance

Calendar year returns

  • 2021from Jul+14.7%
  • 2022+28.8%
  • 2023+99.0%
  • 2024+76.5%
  • 2025−4.2%
  • 2026to Jul+26.6%

Model, back tested, after charges, 2021 to Jul 2026. Not a promise of future returns.

What an amount would have become

You put in
₹2,25,000
Model value
 
Gain
 

Model, back tested: the published monthly model returns after charges, Jul 2021 to Jul 2026 (61 months). A back test, not a promise of future returns.

Stress test: drag through the falls

Move across the record to read how far the model sat below its last peak, and how long it took to climb back.

MonthFeb 2025
Below the last peak−22.1%
Back to the peak 
Model value, log scaleBelow the last peak
Deepest falls, daily record

Model, back tested. As of 27 Apr 2026. The scrub reads month end model values from Jul 2021 to Jul 2026, so its falls read shallower than the daily figures on the buttons; days are counted between month ends. Drawdowns of similar size can happen again. Moderately High risk band.

Monthly returns

Allcap: monthly model returns, percent, after charges
YearJanFebMarAprMayJunJulAugSepOctNovDecYear
2021Janno dataFebno dataMarno dataAprno dataMayno dataJunno dataJul3.0Aug−6.6Sep4.9Oct−0.4Nov1.3Dec12.8Year+14.7%
2022Jan1.9Feb−11.8Mar4.5Apr7.2May−8.7Jun0.5Jul11.6Aug5.1Sep−0.2Oct4.1Nov6.7Dec7.2Year+28.8%
2023Jan−6.7Feb−4.3Mar3.9Apr9.2May4.6Jun10.4Jul13.5Aug9.2Sep6.6Oct3.0Nov13.8Dec9.8Year+99.0%
2024Jan12.2Feb0.2Mar−2.9Apr11.8May8.4Jun9.7Jul3.5Aug4.0Sep5.7Oct−5.4Nov9.2Dec3.5Year+76.5%
2025Jan−12.1Feb−11.4Mar9.4Apr1.0May9.7Jun1.4Jul−5.0Aug2.3Sep−0.2Oct4.2Nov−0.1Dec−0.9Year−4.2%
2026Jan−2.3Feb6.9Mar−8.2Apr18.5May2.3Jun7.5Jul1.2Augno dataSepno dataOctno dataNovno dataDecno dataYear to date+26.6%

Model, back tested, after charges. Each cell is one calendar month, in percent. Not a promise of future returns.

Rolling returns

Any 1 year
Worst
−4.2%
Median
+29.6%
Best
+150.5%
Positive
96%of 49 windows

Return over each 12 month window.

Any 3 years
Worst
+47.4%
Median
+57.4%
Best
+70.2%
Positive
100%of 25 windows

CAGR over each 36 month window.

Model, back tested, from the month end model values, Jul 2021 to Jul 2026. Not a promise of future returns.

Deepest falls

  1. −22.72%20 Dec 2024 to 10 Apr 2026476 days
  2. −17.94%21 Jan 2022 to 5 Aug 2022196 days
  3. −12.42%6 Aug 2021 to 24 Sep 202149 days
  4. −11.58%6 Jan 2023 to 21 Apr 2023105 days
  5. −11.44%9 Feb 2024 to 29 Mar 202449 days

Model, back tested, daily record over rolling 5 years: from the peak to the low, and the days until the record was back at that peak.

Holdings and sectors

50 holdings

  • Equity100%
  • HFCL2.0%
  • STLTECH2.0%
  • WEBELSOLAR2.0%
  • CUPID2.0%
  • QPOWER2.0%
  • APOLLO2.0%
  • WELCORP2.0%
  • ADANIPOWER2.0%
  • JAYNECOIND2.0%
  • GALLANTT2.0%
  • TDPOWERSYS2.0%
  • KRN2.0%
  • ADANIGREEN2.0%
  • ADANIENSOL2.0%
  • AZAD2.0%
  • LLOYDSME2.0%
  • LLOYDSENT2.0%
  • ACUTAAS2.0%
  • ATHERENERG2.0%
  • LLOYDSENGG2.0%
  • KIRLOSENG2.0%
  • GVT&D2.0%
  • THERMAX2.0%
  • BHEL2.0%
  • COHANCE2.0%
  • HCC2.0%
  • KIRLPNU2.0%
  • BALAMINES2.0%
  • JAIBALAJI2.0%
  • HSCL2.0%
  • DATAPATTNS2.0%
  • SCI2.0%
  • SKYGOLD2.0%
  • SKIPPER2.0%
  • ELECON2.0%
  • BSE2.0%
  • PTC2.0%
  • PNBHOUSING2.0%
  • SYRMA2.0%
  • SUZLON2.0%
  • NETWEB2.0%
  • DIACABS2.0%
  • FINCABLES2.0%
  • BANDHANBNK2.0%
  • GOKULAGRO2.0%
  • ASHAPURMIN2.0%
  • OLAELEC2.0%
  • EIEL2.0%
  • ANGELONE2.0%
  • PFOCUS2.0%

Live quantities, prices and book values are in the app

Weights on the rebalance day, 6 Jul 2026; they drift with prices until the next rebalance. Model portfolio, not a recommendation to buy or sell any stock.

Sector allocation

  • Capital Goods18.0%
  • Other, not yet mapped18.0%
  • Power & Utilities16.0%
  • IT & Technology12.0%
  • Chemicals10.0%
  • FMCG & Consumer6.0%
  • Auto & Components6.0%
  • Banking & Financial6.0%
  • Metals & Mining4.0%
  • Realty & Construction2.0%
  • Energy & Oil & Gas2.0%

11 sectors in the equity sleeve; the largest mapped sector is Capital Goods at 18.0%, and 18.0% of the sleeve is not yet in the sector map. Broader sector spread than Mid-Smallcap due to higher stock count and 5000 price cap admitting some larger mid-caps. Sector map curated against NSE listings.

Sector weight by year

Average sector weight of the equity sleeve in each year, percent, and the weight on the latest published list
Sector202120222023202420252026Now
Other, not yet mapped71697168693148
Capital Goods454641012
IT & Technology32224710
Power & Utilities8855377
Chemicals1102257
Pharma & Healthcare0023345
Metals & Mining55655113
FMCG & Consumer2224253
Auto & Components1111273
Banking & Financial3363592
Energy & Oil & Gas021114out
Textiles000001out
Realty & Construction000000out

135 published rebalances, 13 sectors touched, 10 held on the latest list (3 Jul 2026). Each cell is the average weight that year, equal weighted at the stock level; darker is a higher weight.

Rebalances

The rebalance record

published rebalances
135
first in the record
14 May 2021
26 a year
Every 2 weeks
latest published
3 Jul 2026

Rebalances run on a fixed calendar; you approve each one before your broker places the orders.

Latest rebalance, 3 Jul 2026

Against the list of 19 Jun 2026: 12 in, 11 out, 48 held, 60 on the list.

In
  • WABAG
  • CAPLIPOINT
  • SFL
  • SWSOLAR
  • DEEPAKFERT
  • QUESS
  • GREAVESCOT
  • JYOTICNC
  • SHRIPISTON
  • AVL
  • PGIL
  • IXIGO
Out
  • BHEL
  • TRITURBINE
  • ADANIPOWER
  • BSE
  • GLAND
  • TATACOMM
  • GVT&D
  • VEDL
  • VIJAYA
  • TATATECH
  • ATHERENERG
Held
  • STLTECH
  • AEGISLOG
  • CUPID
  • HFCL
  • PARAS
  • MSTCLTD
  • CARTRADE
  • CPPLUS
  • ASTRAMICRO
  • AVALON
  • BALAMINES
  • KIRLOSENG
  • RATEGAIN
  • SYRMA
  • RRKABEL
  • ACUTAAS
  • LLOYDSENGG
  • APOLLO
  • INOXINDIA
  • ARVIND
  • TEJASNET
  • WELCORP
  • MARKSANS
  • SANSERA
  • SUPRIYA
  • SAREGAMA
  • J&KBANK
  • THERMAX
  • ACMESOLAR
  • ADANIGREEN
  • DIACABS
  • IDEA
  • KIRLPNU
  • LAURUSLABS
  • HONASA
  • IFCI
  • RAIN
  • ZEEL
  • WOCKPHARMA
  • DATAPATTNS
  • TDPOWERSYS
  • HSCL
  • SHAILY
  • SKYGOLD
  • ADANIENSOL
  • ADANIENT
  • THYROCARE
  • SKIPPER

Model portfolio, back tested rebalance record. Entered plus held is that date's list size, which can differ from the 50 stock target. Tickers are not recommendations.

Recent rebalances

The latest 12 rebalances: names on the list, names in and names out
DateOn the listInOut
3 Jul 202660+12−11
19 Jun 202659+13−16
5 Jun 202662+13−14
22 May 202663+12−19
8 May 202670+22−20
24 Apr 202668+21−15
10 Apr 202662+18−11
27 Mar 202655+9−12
13 Mar 202658+11−17
27 Feb 202664+16−16
13 Feb 202664+16−8
30 Jan 202656+9−9

Every rebalance with its namesRebalance history, CSV

Names on the list, names in and names out at each date; the history page and the CSV have every name.

Sector shifts of 10 points or more

  1. Other, not yet mapped +10 pts
  2. Other, not yet mapped +13 pts
  3. Other, not yet mapped +13 pts
  4. Other, not yet mapped −11 pts
  5. Other, not yet mapped −15 pts
  6. Other, not yet mapped −11 pts

7 such shifts in 135 rebalances; the latest six. Equity sleeve, equal weighted at the stock level.

Get the next rebalance by email

The names in and out, on the morning Allcap rebalances. Every 2 weeks. Free, one click to stop.

Risk metrics

Allcap against the Nifty 50

Risk and efficiency figures, model, back tested, against the Nifty 50
MetricAllcapNifty 50
Sharpe ratio1.680.69
Sortino ratio1.600.67
Calmar ratio1.960.54
Volatility, a year23.58%14.15%
Max drawdown−22.72%−16.92%
Best week+8.57%+6.36%
Worst week−10.97%−6.33%
Weeks up62.07%56.32%
Average up week+2.73%+1.53%
Average down week−2.48%−1.57%

Model, back tested, after charges. Weekly figures over the rolling 5 years window to 13 Jul 2026; the Nifty 50 over the same window. Not a promise of future returns.

Risk band

Moderately High on a scale from Low to Very High

Deepest model fall
−22.72%
Time horizon
5 years or longer. Drawdowns of 23% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Walk the risk band
One step safer (Moderate)Allcap Multi AssetCAGR 40.5%, Sharpe 1.81, max drawdown −21.3%One step bolder (High)MidcapCAGR 38.8%, Sharpe 1.49, max drawdown −24.9%

CAGR, Sharpe and max drawdown on the cards: Model, back tested. As of 27 Apr 2026. Take the risk profile to see which bands sit within yours.

Methodology

How it works

  1. 1
    Universe

    Start from the Nifty Total Market, filtered to stocks priced under ₹5,000.

  2. 2
    Rank

    Score every stock in the universe by a momentum composite: price trend over several look backs, risk adjusted. The top names by score become the candidate list.

  3. 3
    Select

    Hold the top 50 names by score, equal weighted so no single name dominates.

  4. 4
    Rebalance

    Every 2 weeks the model runs again end to end. Names that fall out of the top 50 are sold; new entrants are bought. The full list is published at every rebalance.

Configuration

Universe
Nifty Total Market (max 5000)
Type
Momentum
Sleeves
Equity 100
Holdings
50, equal weight
Rebalance
Every 2 weeks, 26 a year
Max stock price
₹5,000
Risk band
Moderately High
Benchmark
Nifty 50; charts draw the Nifty 50 TRI as a CAGR line
Minimum capital
About ₹2,25,000
Back test from
9 Jul 2021
Metrics window
Rolling 5 years
Prices
NSE BhavCopy; the back test deducts brokerage, STT, exchange charges and GST

Why Allcap

A hand holding a phone against a plain wall, showing the Allcap strategy page in the dark theme with its model history chart
The Allcap page on a phone, sample data

Allcap holds 50 names from the Nifty Total Market, which is roughly 750 stocks. Filter for prices under 5000, run the standard momentum screen, take the top 50 equal-weighted, rotate every two weeks.

The structure is built on breadth. Fifty equal-weighted names from a 750-stock universe diversify single-stock noise, while the fortnightly screen keeps the momentum engine fully engaged. Breadth does the risk work. The screen does the return work.

This is not the concentrated bet. Alpha 5 is. This is the broad expression of the same signal, and the trade-off is a larger entry ticket: 50 names cost more to hold than 5.

Long drawdowns are part of the deal. Even a well-diversified momentum card can sit below its peak for months at a stretch when the broad market chops sideways. If you cannot stay invested through a stretch like that, this is the wrong card.

The card buys only stocks priced under 5000. The 5000 cap (versus Midcap Smallcap's 2000) admits some larger mid-cap names that sit just below the largecap threshold. It rebalances every 2 weeks regardless of regime. It holds 50 names equal-weighted at roughly 2% each. No fixed-income buffer. No gold sleeve. No defensive overlay. Pure equity momentum on the Nifty Total Market.

Each rebalance publishes the full 50-name list. The roster typically cuts across power and renewables, capital goods, defence and digital, telecom, pharma, capital markets, and financials, and the current holdings sit alongside this card.

This is also not a tax-friendly product if traded in a non-registered account. Two-week rebalances on 50 names mean churn, and churn means short-term capital gains.

Key takeaways
  • The Nifty Total Market universe, roughly 750 stocks
  • 50 equal-weighted names diversify away single-stock noise
  • Fortnightly rotation on the full Nifty Total Market
  • The core momentum sleeve for allocators who can meet the entry floor

A description of the strategy, not a recommendation. Decide your own allocation, or ask a SEBI registered investment adviser.

Who it is written for

Written for
Investors who want growth but read a 25% drawdown as opportunity, not panic
Capital
About ₹2,25,000, one share of every holding at recent prices. More capital buys more of each holding and tracks the model weights more closely.

How the rule was built

Machine learning is used in research to search and optimise the model behind each strategy: which signals rank the universe, how many names to hold and how often to rebalance, tested out of sample. The rule that ships is then frozen and published, so the live strategy is a fixed, readable algorithm, not a black box that changes on its own.

The engine, tick by tick execution data and the audit trail

Learn the mechanics

Free modules from the RupeeCase Learn library. No sign up.

Costs

One fee per rebalance

0.2%of traded value, charged only when a rebalance trades

  • No subscription, no AUM fee, no performance fee.
  • No lock in: the stocks sit in your own demat and you can sell any day the market is open.
  • Broker side charges (brokerage, STT, exchange charges, GST) are separate and paid to your broker.

A year on the minimum

Minimum capital
₹2,25,000
Rebalances a year
26, every 2 weeks
Book traded each time
30%, an assumption
Platform fee a year, about
₹3,5101.56% of capital

Higher turnover or more capital raises the fee in proportion.

Costs inside the back test

Gross return
+623.74%before costs
Estimated costs
−94.55 ptsbrokerage, STT and taxes
Net return
+529.19%after costs
Nifty 50, same window
+55.09%cumulative

Model, back tested, cumulative over the rolling 5 years window to 13 Jul 2026. Net is gross minus estimated costs, as on the current factsheet. Not a promise of future returns.

Work it out for your amount

Fee calculatorPricing, with a worked example

RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model, back tested. As of 27 Apr 2026. Model figures are after estimated charges and are not actual client returns. Past performance does not guarantee future returns; capital can be lost.

04Questions

Before you
commit capital.

What is the Allcap strategy?

50 stocks from the broadest universe on the platform. Fortnightly rotation. It selects the top 50 momentum names from Nifty Total Market (max 5000) and rebalances every 2 weeks.

What is the minimum investment for Allcap?

About ₹2,25,000, enough to hold one share of every name in the current book at recent prices. The figure moves with the prices of the holdings.

How does Allcap compare to the Nifty 50?

Allcap shows a model CAGR of 44.70% against 9.80% for the Nifty 50 TRI CAGR line (Jan 2021 to Jul 2026), with a Sharpe ratio of 1.68. Model, back tested. As of 27 Apr 2026. Past performance does not guarantee future returns.

What is the worst drawdown Allcap has experienced?

22.72% peak to trough in the model record. The deepest period ran 476 days, from 20 Dec 2024 to 10 Apr 2026. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again, so size the position for it.

What are the fees on Allcap?

0.2% of traded value per rebalance. No subscription, no AUM fee, no performance fee. On the minimum capital of ₹2,25,000, the platform fee works out to about ₹3,510 a year (1.56% of capital). Assumptions: 26 rebalances a year (every 2 weeks), 30% of the book traded at each rebalance, 0.2% of traded value. Higher turnover or more capital raises the fee in proportion. Broker side charges (brokerage, STT, exchange charges, GST) are separate.

Can I exit Allcap at any time?

Yes. No lock-in. Holdings sit in your own broker demat account and you can sell any name on any market day. Switching strategies or pausing the rebalance is a one-click action on the platform.

05Same family

All market: Nifty Total Market.

All 18 strategies
ModerateMulti asset Allcap Multi Asset Nifty Total Market, 52 stocks, every 2 weeks CAGR, model40.47%Max DD−21.3%From₹2.81L Moderate risk, multi asset ModerateHybrid TotalMarket Hybrid Nifty Total Market, 51 stocks, every 2 weeks CAGR, model39.53%Max DD−21.8%From₹2.81L Moderate risk, hybrid Moderately HighDynamic multi asset Dynamic Asset Allocator Nifty Total Market plus debt and gold, 52 stocks, every 3 weeks CAGR, model45.18%Max DD−10.6%From₹4.76L Moderately High risk, dynamic multi asset

CAGR and Max DD on the cards: Model, back tested. As of 27 Apr 2026.

Compare Allcap with

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Go deeper on this strategy.

Ready when you are

Allcap

44.70% CAGR, model, back tested. About ₹2.25L to start. Every 2 weeks, you approve each one.

Invest in Allcap Compare Allcap

0.2% of traded value per rebalance. No AUM fee, no lock in. Line behind: the Allcap model record, after charges, as of 27 Apr 2026. Not a promise of future returns.