More names. Not a softer fall.
Same 5Y backtest engine. Watch the stock count climb and the drawdown column refuse to shrink with it.
| Card |
Stocks |
CAGR |
Max DD |
| Alpha 5 . concentrated | 5 | 58.34 | -24.72 |
| Midcap . Midcap 150 | 20 | 41.21 | -24.87 |
| Midcap Smallcap . the card | 40 | 48.98 | -26.17 |
| Allcap . whole market | 50 | 48.02 | -22.70 |
| Nifty 50 . benchmark | 50 | 10.68 | -16.92 |
Five names fell 24.72. Forty names fell 26.17. The thing that set the depth of the hole was the universe, how far down the cap curve each card fishes, not how many lines it holds. Midcap Smallcap holds 40 names all from the smallest end of the market. Allcap holds 50 from the whole market and fell less. Count the bets, not the tickers.