# Smallcap . The Honest Year

_Strategy Spotlight . 2026-05-04 . By Tanmay Kurtkoti. Educational, illustrative, not advice._

Tonight every chart show is going to talk BJP wins across states. By Tuesday open every retail screen will be tilting toward the domestic growth basket. Smallcap will be the loudest tab.

Before that noise catches you, the math underneath has not moved a millimetre.

I built RupeeCase Smallcap on the Nifty Smallcap 250 universe. Fifty stocks, equal weight, fortnight rebalance. Five-year backtest CAGR sits at 41.03 percent versus 10.44 for Nifty 50 over the same window. The methodology is open at https://rupeecase.com/strategies/methodology

That headline is brochure language. Real money does not get held in CAGR. It gets held in calendar years.

Year by year. 2022 closed +28.3 while Nifty stalled at 4.3. Quietly compounded. 2023 +112.8 percent, the year an account doubled in twelve months. 2024 +55.2, comfort zone. 2025 closed -8.7 while Nifty 50 was up 8.5 the same year. 2026 year-to-date sits at only +2.6 because the drawdown that started December 2024 is still alive at -22.35 percent.

Four years that felt easy. One year that felt awful. The 41 percent CAGR assumes someone held all five.

Most retail investors did not hold 2025. They saw Nifty up, Smallcap down, and rotated out at the bottom. That move locks the loss in and misses the recovery. The plain-English explainer on drawdown and the behavioural cost of exit timing is at https://rupeecase.com/learn/

So the question is not is this strategy good. The question is can you hold it.

Smallcap belongs in the satellite sleeve, not the core. Sized for the year you have to sit through, not the year that doubles. The strategy page shows the year-by-year, the holdings list and the live -22.35 percent drawdown openly at https://rupeecase.com/strategies/smallcap

Before the cheque is sized, the behavioural-fit test that tells you whether you can hold through a 22 percent dip is at https://rupeecase.com/risk-profile.html

The fee-stack and side-by-side construction comparison against MF and PMS sits at https://rupeecase.com/compare

The math on smallcap is honest. The brochure is honest. The wait is the part nobody puts in the headline.