Factsheet, model back tested
Midcap factsheet
20 stocks from the Nifty Midcap 150. Fortnightly rotation. Momentum on the Nifty Midcap 150, 20 holdings, rebalanced every 2 weeks. Every figure below is model, back tested and after charges; each block names its date.
- 38.75%CAGR, model, as of 27 Apr 2026
- −24.87%deepest model fall
- 1.49Sharpe ratio, model
- ₹90Kminimum, about ₹90,000
RupeeCase strategy factsheet
Midcap
Momentum, Nifty Midcap 150. 20 stocks from the Nifty Midcap 150. Fortnightly rotation.
- CAGR
- 38.75%Nifty 50 TRI line 9.8%
- Max drawdown
- −24.87%peak to trough, model
- Sharpe ratio
- 1.49Nifty 50 0.73
- Minimum capital
- ₹90Kabout ₹90,000
Model, back tested. As of 27 Apr 2026. After charges. Not a promise of future returns.
₹100 in the model in May 2021 became ₹560 by Jul 2026; the Nifty 50 TRI line reached ₹162. Log scale. Model, back tested. As of 27 Apr 2026.
Performance, risk, efficiency
- MetricMidcapNifty 50
- Performance
- CAGR38.75%9.8%
- Cumulative return+423.17%+59.62%
- Sharpe ratio1.490.73
- Sortino ratio1.460.70
- Calmar ratio1.660.58
- Risk
- Max drawdown−24.87%−16.92%
- Volatility, a year25.44%14.04%
- Best week+9.45%+6.36%
- Worst week−10.41%−6.33%
- Efficiency
- Weeks up60.92%57.47%
- Average up week+2.92%+1.49%
- Average down week−2.69%−1.57%
Model, back tested, after charges, weekly figures over the rolling 5 years window to 27 Apr 2026; the Nifty 50 over the same window. CAGR and max drawdown as of 27 Apr 2026.
Configuration
- Universe
- Nifty Midcap 150
- Type
- Momentum
- Sleeves
- Equity 100
- Holdings
- 20, equal weight in the equity sleeve
- Rebalance
- Every 2 weeks, 26 a year
- Max stock price
- ₹5,000
- Risk band
- High
- Tier
- Growth core
- Benchmark
- Nifty 50
- Minimum capital
- About ₹90,000, as of 8 Aug 2026
- Back test from
- 7 May 2021
- Metrics window
- Rolling 5 years
- Fee
- 0.2% of traded value per rebalance, nothing else
Calendar year returns
- 2021from May+37.5%
- 2022+41.3%
- 2023+79.4%
- 2024+51.1%
- 2025+5.6%
- 2026to May+1.3%
Model, back tested, after charges, 2021 to May 2026.
Deepest falls
- −24.87%20 Dec 2024 to 7 Nov 2025322 days
- −18.48%15 Apr 2022 to 2 Sep 2022140 days
- −15.52%6 Jan 2023 to 2 Jun 2023147 days
- −12.16%22 Oct 2021 to 24 Dec 202163 days
- −11.35%21 Jan 2022 to 25 Mar 202263 days
Model, back tested, daily record over rolling 5 years: peak to low, and the days until the record was back at that peak.
Monthly returns
- 2021Janno dataFebno dataMarno dataAprno dataMay0.4Jun1.9Jul8.2Aug0.4Sep11.2Oct1.4Nov−6.5Dec17.4Year+37.5%
- 2022Jan−0.1Feb−7.5Mar8.2Apr1.8May−6.2Jun−3.6Jul9.1Aug2.3Sep−1.5Oct6.9Nov13.6Dec14.9Year+41.3%
- 2023Jan−10.8Feb−5.3Mar4.1Apr11.4May−1.1Jun12.5Jul6.7Aug10.0Sep10.4Oct−2.1Nov15.4Dec12.4Year+79.4%
- 2024Jan10.5Feb4.6Mar−0.5Apr10.7May8.4Jun2.8Jul3.0Aug2.8Sep−1.9Oct−4.2Nov2.3Dec4.5Year+51.1%
- 2025Jan−15.5Feb−9.8Mar9.7Apr4.3May8.7Jun4.1Jul−5.1Aug3.9Sep−0.3Oct3.5Nov3.7Dec1.5Year+5.6%
- 2026Jan−2.8Feb4.9Mar−14.8Apr13.4May2.8Junno dataJulno dataAugno dataSepno dataOctno dataNovno dataDecno dataYTD+1.3%
Model, back tested, after charges. Each cell is one calendar month, in percent.
20 holdings
- Equity89%
- SUZLON5.0%
- HUDCO5.0%
- IDEA5.0%
- THERMAX4.9%
- MAHABANK4.9%
- NATIONALUM4.8%
- SAIL4.8%
- BHEL4.7%
- TORNTPOWER4.7%
- NLCINDIA4.7%
- GVT&D4.6%
- ATGL4.5%
- NAM-INDIA4.5%
- BSE4.2%
- BHARATFORG4.2%
- PREMIERENE4.1%
- LLOYDSME3.8%
- RADICO3.7%
- COCHINSHIP3.5%
- MCX3.4%
Weights on the rebalance day, 11 May 2026; they drift with prices until the next rebalance. Model portfolio, not a recommendation to buy or sell any stock.
Sector allocation
- Other, not yet mapped25.5%
- Power & Utilities20.8%
- Banking & Financial19.1%
- Capital Goods14.9%
- Metals & Mining10.8%
- Auto & Components4.7%
- FMCG & Consumer4.2%
7 sectors in the equity sleeve, mapped against NSE listings; names not yet in the map are counted as other.
How it works
- 1Universe
Nifty Midcap 150, stocks priced under ₹5,000.
- 2Rank
A momentum composite scores every stock: price trend over several look backs, risk adjusted.
- 3Select
The top 20 names, equal weighted.
- 4Rebalance
Every 2 weeks the model runs again; names that fall out are sold, entrants bought, the full list published.
Costs
- Platform fee
- 0.2% of traded value per rebalance; no subscription, no AUM fee, no performance fee, no lock in
- A year on the minimum, about
- ₹1,400 (1.56% of capital): 26 rebalances a year, 30% of the book traded each time, an assumption
- Inside the back test
- Gross +531.34%, estimated costs −67.63 pts, net +463.71%, cumulative over rolling 5 years to 27 Apr 2026
- Broker side
- Brokerage, STT, exchange charges and GST are paid to your broker
Rebalance record
- Published rebalances
- 132, from 14 May 2021 to 11 May 2026
- Cadence
- Every 2 weeks, 26 a year, on a fixed calendar
- Names on the latest list
- 20, which can differ from the 20 stock target
Model portfolio, back tested rebalance record. Every list is public, with the names that came in and went out.
RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model figures are back tested, after estimated charges, and are not actual client returns or a promise of future returns; capital can be lost. Prices: NSE BhavCopy; the back test deducts brokerage, STT, exchange charges and GST. https://www.rupeecase.com/strategies/factsheets/midcap
02The PDF
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03Documents
Everything behind the sheet.
- Midcap strategy pageFour numbers, the full factsheet with the stress test, the FAQ and Invest.
- Rebalance historyEvery published list, 132 rebalances, 14 May 2021 to 11 May 2026.
- Rebalance history, CSVThe record as a file.
- Midcap as plain textMarkdown, for reading tools and AI assistants.
- Growth core tierPure equity momentum across mid, small and micro caps.
- DisclaimersHow the model figures are made and what they are not.
Compare Midcap with
- vsMidcap SmallcapCAGR 42.6%, Sharpe 1.63
- vsSmallcapCAGR 37.4%, Sharpe 1.59
- vsLarge MidcapCAGR 37.8%, Sharpe 1.69
- vsEnergy BasketCAGR 33.1%, Sharpe 1.12
- vsAllcapCAGR 44.7%, Sharpe 1.68
Other factsheets
- higher CAGRTotalMarket HybridCAGR 39.5%, max drawdown −21.8%
- lower CAGRLarge MidcapCAGR 37.8%, max drawdown −19.3%
- Mid and smallSmallcapCAGR 37.4%, max drawdown −22.3%
- Mid and smallMicrocapCAGR 37.3%, max drawdown −26.4%
CAGR and max drawdown on the cards: Model, back tested. As of 27 Apr 2026.
04Questions
The Midcap factsheet,
in plain words.
What does the Midcap factsheet show?
The model, back tested record of Midcap: a CAGR of 38.75%, a deepest fall of −24.87% and a Sharpe ratio of 1.49 as of 27 Apr 2026, with 20 holdings rebalanced every 2 weeks. Every figure is after estimated charges and names its date.
What does it cost to run Midcap?
0.2% of traded value per rebalance, nothing else: no subscription, no AUM fee, no performance fee and no lock in. On the minimum that is about ₹1,400 a year (1.56% of capital), assuming 26 rebalances a year with 30% of the book traded each time. Brokerage, STT, exchange charges and GST are paid to your broker.
How much capital does Midcap need?
About ₹90,000, enough to hold one share of every name at recent prices, as of 8 Aug 2026. More capital tracks the model weights more closely.
Are these actual returns?
No. RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model figures are back tested, after estimated charges, and are not actual client returns or a promise of future returns; capital can be lost.
Midcap.
Read the rules, then decide.
38.75% CAGR, model, back tested as of 27 Apr 2026. About ₹90K to start. 0.2% of traded value per rebalance, no lock in.