Hybrid, Nifty Total Market
TotalMarket Hybrid Nifty Total Market hybrid strategy
50 stocks, 20% debt, no gold. Fortnightly rotation.
Written for investors who want a balanced equity tilt with a built-in volatility cushion.
Moderate risk band
01At a glance
TotalMarket Hybrid in four numbers.
- CAGR
- 39.53%Model, back tested
- Max drawdown
- −21.82%Model, back tested
- Minimum investment
- ₹2.81LAbout ₹2,81,000
- Fee per rebalance
- 0.2%Of traded value, nothing else
150
200
300
500
₹100 in the model in May 2021 became ₹581 by Jul 2026; the Nifty 50 TRI line reached ₹162. Model, back tested. As of 27 Apr 2026. After charges, log scale. Not a promise of future returns.
02Three steps
Compare. Validate. Invest.
Compare
Line TotalMarket Hybrid up against the other 17 strategies, and against funds, PMS and AIF.
Compare strategiesValidate the back test
Every year, month, fall, holding and rebalance is in the factsheet below.
Open the factsheetInvest
Link your broker and approve each rebalance. Stocks stay in your own demat; RupeeCase never holds your money.
Invest in TotalMarket Hybrid
03Factsheet
TotalMarket Hybrid factsheet
Every figure behind the four numbers, in seven parts. Return figures are model, back tested and after charges; each block names its date.
Performance
Calendar year returns
- 2021from May+32.9%
- 2022+25.0%
- 2023+87.8%
- 2024+71.8%
- 2025−3.8%
- 2026to May+16.2%
Model, back tested, after charges, 2021 to May 2026. Not a promise of future returns.
What an amount would have become
- You put in
- ₹2,81,000
- Model value
- Gain
Model, back tested: the published monthly model returns after charges, May 2021 to May 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−21.2%
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 May 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. Moderate risk band.
Monthly returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | Janno data | Febno data | Marno data | Aprno data | May3.2 | Jun9.2 | Jul7.4 | Aug−5.6 | Sep4.1 | Oct−0.3 | Nov1.1 | Dec10.8 | Year+32.9% |
| 2022 | Jan1.7 | Feb−10.2 | Mar3.8 | Apr6.2 | May−7.4 | Jun0.4 | Jul9.9 | Aug4.4 | Sep−0.2 | Oct3.6 | Nov5.8 | Dec6.4 | Year+25.0% |
| 2023 | Jan−5.9 | Feb−3.7 | Mar3.4 | Apr8.1 | May4.1 | Jun9.3 | Jul12.2 | Aug8.4 | Sep6.0 | Oct2.8 | Nov12.7 | Dec9.1 | Year+87.8% |
| 2024 | Jan11.4 | Feb0.2 | Mar−2.8 | Apr11.1 | May8.0 | Jun9.3 | Jul3.4 | Aug3.8 | Sep5.5 | Oct−5.2 | Nov8.8 | Dec3.4 | Year+71.8% |
| 2025 | Jan−11.6 | Feb−10.9 | Mar9.0 | Apr0.9 | May9.3 | Jun1.4 | Jul−4.7 | Aug2.3 | Sep−0.2 | Oct4.0 | Nov−0.1 | Dec−0.8 | Year−3.8% |
| 2026 | Jan−2.2 | Feb6.7 | Mar−7.9 | Apr17.7 | May2.7 | Junno data | Julno data | Augno data | Sepno data | Octno data | Novno data | Decno data | Year to date+16.2% |
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
- −3.7%
- Median
- +25.7%
- Best
- +131.9%
- Positive
- 96%of 51 windows
Return over each 12 month window.
Any 3 years
- Worst
- +40.8%
- Median
- +52.2%
- Best
- +62.9%
- Positive
- 100%of 27 windows
CAGR over each 36 month window.
Model, back tested, from the month end model values, May 2021 to Jul 2026. Not a promise of future returns.
Deepest falls
- −21.82%20 Dec 2024 to 30 Jan 2026406 days
- −15.39%21 Jan 2022 to 5 Aug 2022196 days
- −10.80%9 Feb 2024 to 29 Mar 202449 days
- −10.48%6 Aug 2021 to 24 Sep 202149 days
- −10.20%6 Jan 2023 to 21 Apr 2023105 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
48 holdings
- Equity75%
- Debt20%
- LIQUIDCASE20.0%Debt
- OLAELEC1.6%
- STLTECH1.6%
- GALLANTT1.6%
- QPOWER1.6%
- LLOYDSENT1.6%
- CUPID1.6%
- EIEL1.6%
- WELCORP1.6%
- KRN1.6%
- ADANIPOWER1.6%
- WEBELSOLAR1.6%
- ANGELONE1.6%
- HFCL1.6%
- LLOYDSME1.6%
- ADANIGREEN1.6%
- APOLLO1.6%
- PFOCUS1.6%
- NATIONALUM1.6%
- AVANTIFEED1.6%
- JAYNECOIND1.6%
- LLOYDSENGG1.6%
- ABDL1.6%
- THERMAX1.6%
- AZAD1.6%
- TDPOWERSYS1.6%
- ADANIENSOL1.6%
- KSB1.6%
- ATHERENERG1.6%
- INOXINDIA1.6%
- DEEPAKFERT1.6%
- HINDCOPPER1.6%
- KAJARIACER1.6%
- THANGAMAYL1.6%
- ACUTAAS1.6%
- ACMESOLAR1.6%
- KIRLOSENG1.6%
- OSWALPUMPS1.6%
- SANSERA1.6%
- FIVESTAR1.6%
- MCX1.6%
- GVT&D1.6%
- AWFIS1.6%
- IMFA1.6%
- HEG1.6%
- JINDALSAW1.6%
- VEDL1.6%
- BELRISE1.6%
Live quantities, prices and book values are in the app
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
- Capital Goods25.5%
- Power & Utilities14.9%
- Metals & Mining14.9%
- Chemicals12.8%
- Auto & Components10.6%
- IT & Technology6.4%
- Banking & Financial6.4%
- FMCG & Consumer6.4%
- Realty & Construction2.1%
9 sectors in the equity sleeve; the largest mapped sector is Capital Goods at 25.5%. Same 50-stock equity universe as Allcap and Allcap Multi Asset, with 20% debt sleeve instead of 10% debt + 10% gold. Sector map curated against NSE listings.
Sector weight by year
| Sector | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Now |
|---|---|---|---|---|---|---|---|
| Other, not yet mapped | 70 | 69 | 71 | 68 | 68 | 25 | 20 |
| Capital Goods | 4 | 5 | 4 | 6 | 5 | 9 | 17 |
| Power & Utilities | 8 | 8 | 5 | 5 | 3 | 6 | 17 |
| IT & Technology | 3 | 2 | 2 | 2 | 4 | 7 | 11 |
| Chemicals | 1 | 1 | 0 | 2 | 2 | 5 | 11 |
| FMCG & Consumer | 2 | 2 | 2 | 4 | 2 | 5 | 7 |
| Metals & Mining | 5 | 5 | 6 | 5 | 5 | 14 | 4 |
| Banking & Financial | 3 | 3 | 6 | 4 | 5 | 11 | 4 |
| Auto & Components | 1 | 1 | 1 | 1 | 2 | 10 | 4 |
| Energy & Oil & Gas | 0 | 2 | 1 | 1 | 1 | 4 | 2 |
| Realty & Construction | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Pharma & Healthcare | 1 | 0 | 2 | 3 | 3 | 4 | out |
| Textiles | 0 | 0 | 0 | 0 | 0 | 1 | out |
170 published rebalances, 13 sectors touched, 11 held on the latest list (8 May 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
- 170
- first in the record
- 14 May 2021
- 26 a year
- Every 2 weeks
- latest published
- 8 May 2026
Rebalances run on a fixed calendar; you approve each one before your broker places the orders.
Latest rebalance, 8 May 2026
Against the list of 1 May 2026: 23 in, 24 out, 24 held, 47 on the list.
In
- BHEL
- COHANCE
- HCC
- KIRLPNU
- BALAMINES
- JAIBALAJI
- HSCL
- DATAPATTNS
- SCI
- SKYGOLD
- SKIPPER
- ELECON
- BSE
- PTC
- PNBHOUSING
- SYRMA
- SUZLON
- NETWEB
- DIACABS
- FINCABLES
- BANDHANBNK
- GOKULAGRO
- ASHAPURMIN
Out
- OLAELEC
- EIEL
- ANGELONE
- PFOCUS
- NATIONALUM
- AVANTIFEED
- ABDL
- KSB
- INOXINDIA
- DEEPAKFERT
- HINDCOPPER
- KAJARIACER
- THANGAMAYL
- ACMESOLAR
- OSWALPUMPS
- SANSERA
- FIVESTAR
- MCX
- AWFIS
- IMFA
- HEG
- JINDALSAW
- VEDL
- BELRISE
Held
- HFCL
- STLTECH
- WEBELSOLAR
- CUPID
- QPOWER
- APOLLO
- WELCORP
- ADANIPOWER
- JAYNECOIND
- GALLANTT
- TDPOWERSYS
- KRN
- ADANIGREEN
- ADANIENSOL
- AZAD
- LLOYDSME
- LLOYDSENT
- ACUTAAS
- ATHERENERG
- LLOYDSENGG
- KIRLOSENG
- GVT&D
- THERMAX
- LIQUIDCASE
Model portfolio, back tested rebalance record. Entered plus held is that date's list size, which can differ from the 51 stock target. Tickers are not recommendations.
Recent rebalances
| Date | On the list | In | Out |
|---|---|---|---|
| 8 May 2026 | 47 | +23 | −24 |
| 1 May 2026 | 48 | 0 | 0 |
| 24 Apr 2026 | 48 | +21 | −21 |
| 17 Apr 2026 | 48 | 0 | 0 |
| 10 Apr 2026 | 48 | +19 | −15 |
| 3 Apr 2026 | 44 | 0 | 0 |
| 27 Mar 2026 | 44 | +10 | −12 |
| 20 Mar 2026 | 46 | 0 | 0 |
| 13 Mar 2026 | 46 | +14 | −13 |
| 6 Mar 2026 | 45 | 0 | 0 |
| 27 Feb 2026 | 45 | +17 | −20 |
| 20 Feb 2026 | 48 | 0 | 0 |
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
- Other, not yet mapped +20 pts, Metals & Mining −11 pts
- Capital Goods +15 pts
- Power & Utilities +10 pts
- Other, not yet mapped −13 pts
- Other, not yet mapped −16 pts
- Other, not yet mapped −11 pts
6 such shifts in 170 rebalances; the latest six. Equity sleeve, equal weighted at the stock level.
Get the next rebalance by email
Risk metrics
TotalMarket Hybrid against the Nifty 50
| Metric | TotalMarket Hybrid | Nifty 50 |
|---|---|---|
| Sharpe ratio | 1.77 | 0.73 |
| Sortino ratio | 1.69 | 0.70 |
| Calmar ratio | 1.97 | 0.58 |
| Volatility, a year | 21.55% | 14.04% |
| Max drawdown | −21.82% | −16.92% |
| Best week | +8.10% | +6.36% |
| Worst week | −10.54% | −6.33% |
| Weeks up | 62.84% | 57.47% |
| Average up week | +2.51% | +1.49% |
| Average down week | −2.27% | −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. Not a promise of future returns.
Risk band
Moderate on a scale from Low to Very High
- Deepest model fall
- −21.82%
- Time horizon
- 5 years or longer. Drawdowns of 22% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Walk the risk band
Already at the conservative end of the lineup.
One step bolder (Moderately High)Dynamic Asset AllocatorCAGR 45.2%, Sharpe 2.32, max drawdown −10.6%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
- 1Universe
Start from the Nifty Total Market, filtered to stocks priced under ₹5,000. The equity sleeve sits inside a multi asset frame with debt.
- 2Rank
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.
- 3Select
Hold the top 51 equity names plus the fixed debt sleeve. Equity is equal weighted within its sleeve; the sleeve weights are fixed.
- 4Rebalance
Every 2 weeks the model runs again end to end. Names that fall out of the top 51 are sold; new entrants are bought. The full list is published at every rebalance.
Configuration
- Universe
- Nifty Total Market (max 5000)
- Type
- Hybrid
- Sleeves
- Equity 80, debt 20
- Holdings
- 51
- Rebalance
- Every 2 weeks, 26 a year
- Max stock price
- ₹5,000
- Risk band
- Moderate
- Benchmark
- Nifty 50; charts draw the Nifty 50 TRI as a CAGR line
- Minimum capital
- About ₹2,81,000
- Back test from
- 7 May 2021
- Metrics window
- Rolling 5 years
- Prices
- NSE BhavCopy; the back test deducts brokerage, STT, exchange charges and GST
Why TotalMarket Hybrid
The gold-free version of Allcap Multi Asset. Same 50-stock equity sleeve and same Nifty Total Market universe under 5000, but the 10% gold sleeve is folded into debt for a 20% LiquidCase cushion. Rebalance every 2 weeks.
The equity engine is identical to the multi-asset twin. What changes is the character of the cushion: all of it earns like debt, none of it hedges like gold.
This is not the multi-asset card. It is the simpler sibling. Same equity engine, same cost structure, but the gold inflation hedge is gone, and with it goes one moving part.
For an investor who explicitly does not want gold exposure, a simpler profile with no commodity holding and one fewer position to track, this is the card to pick. For an investor who does want the hedge, Allcap Multi Asset is the better trade.
Key takeaways
- Broad-market momentum with a debt-only defensive overlay
- 20% LiquidCase cushion without gold complexity
- Same 50-stock engine as the multi-asset twin, one fewer moving part
- For investors who want equity plus debt and nothing else
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 a balanced equity tilt with a built-in volatility cushion
- Capital
- About ₹2,81,000, 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.
Learn the mechanics
- Modern portfolio theorywhy multi asset cushions help
- Risk managementhow the debt and gold sleeves work
- Combining factorsthe multi asset construction recipe
- Momentum factorthe engine behind these strategies
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
- ₹2,81,000
- Rebalances a year
- 26, every 2 weeks
- Book traded each time
- 30%, an assumption
- Platform fee a year, about
- ₹4,3801.56% of capital
Higher turnover or more capital raises the fee in proportion.
Costs inside the back test
- Gross return
- +586.00%before costs
- Estimated costs
- −86.95 ptsbrokerage, STT and taxes
- Net return
- +499.05%after costs
- Nifty 50, same window
- +59.62%cumulative
Model, back tested, cumulative over the rolling 5 years window to 27 Apr 2026. Net is gross minus estimated costs, as on the current factsheet. Not a promise of future returns.
Work it out for your amount
Documents
Download and print
- Download the PDF factsheetThe two page factsheet on the current site; enter your email to have a copy sent.
- Rebalance history, CSVEvery published list, 170 rebalances, 14 May 2021 to 8 May 2026.
- Rebalance history pageEach rebalance with what came in and what went out.
- This strategy as plain textMarkdown, for reading tools and AI assistants.
- DisclaimersHow the model figures are made and what they are not.
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 TotalMarket Hybrid strategy?
50 stocks, 20% debt, no gold. Fortnightly rotation. It selects the top 51 momentum names from Nifty Total Market (max 5000) and rebalances every 2 weeks.
What is the minimum investment for TotalMarket Hybrid?
About ₹2,81,000, 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 TotalMarket Hybrid compare to the Nifty 50?
TotalMarket Hybrid shows a model CAGR of 39.53% against 9.80% for the Nifty 50 TRI CAGR line (Jan 2021 to Jul 2026), with a Sharpe ratio of 1.77. Model, back tested. As of 27 Apr 2026. Past performance does not guarantee future returns.
What is the worst drawdown TotalMarket Hybrid has experienced?
21.82% peak to trough in the model record. The deepest period ran 406 days, from 20 Dec 2024 to 30 Jan 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 TotalMarket Hybrid?
0.2% of traded value per rebalance. No subscription, no AUM fee, no performance fee. On the minimum capital of ₹2,81,000, the platform fee works out to about ₹4,380 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 TotalMarket Hybrid 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.
Moderately HighMomentum
Allcap
Nifty Total Market, 50 stocks, every 2 weeks
CAGR, model44.70%Max DD−22.7%From₹2.25L
Moderately High risk, momentum
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
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.
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Ready when you are
TotalMarket Hybrid
39.53% CAGR, model, back tested. About ₹2.81L to start. Every 2 weeks, you approve each one.
0.2% of traded value per rebalance. No AUM fee, no lock in. Line behind: the TotalMarket Hybrid model record, after charges, as of 27 Apr 2026. Not a promise of future returns.