Factsheet, model back tested

Midcap Smallcap factsheet

40 stocks, fortnightly rotation. Momentum on the NSE Universe under 2000. Momentum on the NSE Universe, 40 holdings, rebalanced every 2 weeks. Every figure below is model, back tested and after charges; each block names its date.

42.64%CAGR, model, as of 27 Apr 2026
−26.17%deepest model fall
1.63Sharpe ratio, model
₹80Kminimum, about ₹80,000

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RupeeCase strategy factsheet

Midcap Smallcap

Momentum, NSE Universe. 40 stocks, fortnightly rotation. Momentum on the NSE Universe under 2000.

Risk band: Moderately High
Returns as of: 27 Apr 2026
Risk metrics as of: 27 Apr 2026
Holdings as of: 11 May 2026

CAGR: 42.64%Nifty 50 TRI line 9.8%
Max drawdown: −26.17%peak to trough, model
Sharpe ratio: 1.63Nifty 50 0.73
Minimum capital: ₹80Kabout ₹80,000

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

Midcap Smallcap, model₹737Nifty 50 TRI, 9.8% CAGR line₹162

150 200 300 500 700

₹100 in the model in May 2021 became ₹737 by Jul 2026; the Nifty 50 TRI line reached ₹162. Log scale. Model, back tested. As of 27 Apr 2026.

Performance, risk, efficiency

MetricMidcap SmallcapNifty 50
Performance
CAGR42.64%9.8%
Cumulative return+527.87%+59.62%
Sharpe ratio1.630.73
Sortino ratio1.480.70
Calmar ratio1.910.58
Risk
Max drawdown−26.17%−16.92%
Volatility, a year27.02%14.04%
Best week+9.60%+6.36%
Worst week−13.44%−6.33%
Efficiency
Weeks up65.13%57.47%
Average up week+2.98%+1.49%
Average down week−3.13%−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: NSE Universe (max 2000)
Type: Momentum
Sleeves: Equity 100
Holdings: 40, equal weight in the equity sleeve
Rebalance: Every 2 weeks, 26 a year
Max stock price: ₹2,000
Risk band: Moderately High
Tier: Growth core
Benchmark: Nifty 50
Minimum capital: About ₹80,000, 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+56.9%
2022+26.9%
2023+98.3%
2024+86.0%
2025−8.7%
2026to May+13.0%

Model, back tested, after charges, 2021 to May 2026.

Deepest falls

−26.17%20 Dec 2024 to 1 May 2026497 days
−18.10%21 Jan 2022 to 19 Aug 2022210 days
−17.77%23 Dec 2022 to 19 May 2023147 days
−12.18%9 Feb 2024 to 29 Mar 202449 days
−11.45%6 Aug 2021 to 3 Sep 202128 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 dataMay3.1Jun16.7Jul8.7Aug−4.5Sep7.0Oct0.9Nov−0.3Dec16.8Year+56.9%
2022Jan2.7Feb−12.0Mar5.8Apr4.5May−7.7Jun1.4Jul10.3Aug7.1Sep−0.4Oct3.3Nov6.4Dec4.9Year+26.9%
2023Jan−8.2Feb−6.6Mar2.4Apr9.2May6.2Jun11.7Jul16.9Aug13.4Sep2.0Oct4.6Nov12.5Dec9.7Year+98.3%
2024Jan11.3Feb2.2Mar−3.8Apr12.0May7.3Jun12.0Jul3.5Aug7.9Sep7.2Oct−5.8Nov8.5Dec3.2Year+86.0%
2025Jan−10.9Feb−14.1Mar5.2Apr−0.1May10.9Jun1.9Jul−2.6Aug2.8Sep−2.7Oct−1.6Nov−2.1Dec7.1Year−8.7%
2026Jan−1.3Feb5.7Mar−12.1Apr17.4May5.0Junno dataJulno dataAugno dataSepno dataOctno dataNovno dataDecno dataYTD+13.0%

Model, back tested, after charges. Each cell is one calendar month, in percent.

40 holdings

Equity100%

HFCL2.5%
STLTECH2.5%
WEBELSOLAR2.5%
CUPID2.5%
QPOWER2.5%
APOLLO2.5%
WELCORP2.5%
JTLIND2.5%
ADANIPOWER2.5%
JAYNECOIND2.5%
GALLANTT2.5%
TDPOWERSYS2.5%
PRECWIRE2.5%
KRN2.5%
ADANIGREEN2.5%
ADANIENSOL2.5%
AEROFLEX2.5%
BAJAJCON2.5%
EPIGRAL2.5%
PAISALO2.5%
LLOYDSME2.5%
LLOYDSENT2.5%
MANINDS2.5%
IDEAFORGE2.5%
SUNFLAG2.5%
BHEL2.5%
COHANCE2.5%
HCC2.5%
CYIENTDLM2.5%
MANINFRA2.5%
KIRLPNU2.5%
BALAMINES2.5%
JAIBALAJI2.5%
HSCL2.5%
KPEL2.5%
SCI2.5%
SKYGOLD2.5%
SKIPPER2.5%
ELECON2.5%
FUSION2.5%

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 mapped27.5%
Power & Utilities17.5%
Chemicals10.0%
Metals & Mining10.0%
Capital Goods10.0%
IT & Technology7.5%
FMCG & Consumer7.5%
Pharma & Healthcare2.5%
Banking & Financial2.5%
Realty & Construction2.5%
Energy & Oil & Gas2.5%

11 sectors in the equity sleeve, mapped against NSE listings; names not yet in the map are counted as other.

How it works

1
Universe
NSE Universe, stocks priced under ₹2,000.
2
Rank
A momentum composite scores every stock: price trend over several look backs, risk adjusted.
3
Select
The top 40 names, equal weighted.
4
Rebalance
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: ₹1,250 (1.56% of capital): 26 rebalances a year, 30% of the book traded each time, an assumption
Inside the back test: Gross +787.03%, estimated costs −128.94 pts, net +658.09%, 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: 131, from 14 May 2021 to 8 May 2026
Cadence: Every 2 weeks, 26 a year, on a fixed calendar
Names on the latest list: 57, which can differ from the 40 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-smallcap

02The PDF

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03Documents

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Other factsheets

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

04Questions

The Midcap Smallcap factsheet,
in plain words.

What does the Midcap Smallcap factsheet show?

The model, back tested record of Midcap Smallcap: a CAGR of 42.64%, a deepest fall of −26.17% and a Sharpe ratio of 1.63 as of 27 Apr 2026, with 40 holdings rebalanced every 2 weeks. Every figure is after estimated charges and names its date.

What does it cost to run Midcap Smallcap?

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 ₹1,250 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 Smallcap need?

About ₹80,000, 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.

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Midcap Smallcap.
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Invest in Midcap Smallcap Compare with Midcap

42.64% CAGR, model, back tested as of 27 Apr 2026. About ₹80K to start. 0.2% of traded value per rebalance, no lock in.