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Strategy against strategy

Midcap vs Energy Basket

Midcap (momentum, Nifty Midcap 150) against Energy Basket (thematic, CNX Energy): two model curves on one chart, every risk figure side by side, the holdings they share and who each is written for.

  • 38.8%Midcap, CAGR
  • 33.1%Energy Basket, CAGR
  • −24.9%Midcap, deepest fall
  • −39.5%Energy Basket, deepest fall

Model, back tested. As of 27 Apr 2026. After charges. Not a promise of future returns.

01Two model curves

₹100 in each, May 2021 to Jul 2026.

Midcap₹560Energy Basket₹410Nifty 50 TRI, 9.8% CAGR line₹162
150 200 300 500

Both models rebased to 100 at their common first month, log scale, with the Nifty 50 TRI drawn as its 9.8% CAGR line. Model, back tested. As of 27 Apr 2026. After charges.

02Every figure

14 rows, side by side.

A tick marks the better figure of the two: higher return and ratios, shallower fall, lower volatility, lower entry. The Nifty 50 column is the index over the same window.

MetricMidcapEnergy BasketNifty 50 TRI
CAGR38.75%33.12%9.8%
Sharpe ratio1.491.120.73
Sortino ratio1.461.190.70
Calmar ratio1.660.870.58
Max drawdown−24.87%−39.48%−16.92%
Volatility, a year25.44%30.47%14.04%
Net return, cumulative+423.17%+307.69%+59.62%
Back test windowrolling 5 yearsrolling 5 years
Minimum capitalAbout ₹90,000About ₹75,000
Stocks held201050
RebalanceEvery 2 weeksEvery week
UniverseNifty Midcap 150CNX EnergyNifty 50
Risk bandHighHigh
TierGrowth coreThematic satellite

CAGR, Sharpe and max drawdown: Model, back tested. As of 27 Apr 2026. Sortino, Calmar, volatility and net return: model, back tested over each strategy's own window, to 27 Apr 2026. Minimum capital as of 8 Aug 2026. Not a promise of future returns.

03Holdings overlap

5 names in both lists.

5 of the 20 names in Midcap also sit in Energy Basket (10 names): 25% of the larger list. Lists as of 11 May 2026 and 11 May 2026.

Held by both5

  • SUZLON
  • THERMAX
  • BHEL
  • TORNTPOWER
  • GVT&D

Only in Midcap15

  • HUDCO
  • IDEA
  • MAHABANK
  • NATIONALUM
  • SAIL
  • NLCINDIA
  • ATGL
  • NAM-INDIA
  • BSE
  • BHARATFORG
  • PREMIERENE
  • LLOYDSME
  • RADICO
  • COCHINSHIP
  • MCX

Only in Energy Basket5

  • ADANIPOWER
  • JPPOWER
  • ABB
  • ADANIGREEN
  • ADANIENSOL

Model portfolios on the published lists; tickers are not recommendations. Holding both means the shared names carry weight twice.

04The trade off

Who each is written for.

  • Higher model growth: Midcap (38.75% against 33.12%)
  • Better risk adjusted return: Midcap (Sharpe 1.49 against Sharpe 1.12)
  • Shallower deepest fall: Midcap (24.87% against 39.48%)
  • Lower entry: Energy Basket (₹75,000 against ₹90,000)

Midcap

High risk band

Written for
Growth-oriented investors comfortable with double-digit drawdowns
Time horizon
5 years or longer. Drawdowns of 25% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Capital
About ₹90,000, one share of every holding at recent prices
Midcap strategy page

Energy Basket

High risk band

Written for
Growth-oriented investors comfortable with double-digit drawdowns
Time horizon
5 years or longer. Drawdowns of 39% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Capital
About ₹75,000, one share of every holding at recent prices
Energy Basket strategy page

A description of each strategy, not a recommendation. Decide your own allocation, or ask a SEBI registered investment adviser. Model, back tested. As of 27 Apr 2026.

05Next

Change the pair, or go deeper.

Pick any two strategies

More pairs

06Questions

Midcap vs Energy Basket,
in plain words.

Which has the higher model CAGR, Midcap or Energy Basket?

Midcap: 38.75% against 33.12%, with the Nifty 50 TRI line at 9.8%. Model, back tested. As of 27 Apr 2026. After charges; past performance does not guarantee future returns.

Which fell less in the back test, Midcap or Energy Basket?

Midcap: a deepest model fall of 24.87% against 39.48%. Midcap's deepest daily drawdown ran 322 days from 20 Dec 2024. Energy Basket's ran 126 days from 15 Apr 2022. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again.

Can I hold Midcap and Energy Basket together?

Yes, each is a separate rules based index in your own demat, and 5 names sit in both lists today, so they carry weight twice. Minimum capital is about ₹90,000 and ₹75,000; the fee is 0.2% of traded value per rebalance on each. RupeeCase is not an investment adviser; decide your own allocation.

Explore next

Go deeper on both strategies.

Midcap or Energy Basket.
Read both, then decide.

Invest in MidcapInvest in Energy Basket

0.2% of traded value per rebalance. No AUM fee, no lock in. Model, back tested. As of 27 Apr 2026.