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Strategy against strategy

Large Midcap vs Midcap

Large Midcap (momentum, Nifty LargeMidCap 250) against Midcap (momentum, Nifty Midcap 150): two model curves on one chart, every risk figure side by side, the holdings they share and who each is written for.

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  • 37.8%Large Midcap, CAGR
  • 38.8%Midcap, CAGR
  • −19.3%Large Midcap, deepest fall
  • −24.9%Midcap, deepest fall

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

37.8% against 38.8% a year, and the worst fall of each

37.8% against 38.8% a year, and the worst fall of each37.8% against 38.8% a year, and the worst fall of each: Large Midcap, CAGR 37.83; Large Midcap, deepest fall -19.31; Midcap, CAGR 38.75; Midcap, deepest fall -24.87; Nifty 50 TRI, CAGR 9.8.Large Midcap,CAGR37.8%Large Midcap,deepest fall−19.3%Midcap, CAGR38.8%Midcap, deepestfall−24.9%Nifty 50 TRI,CAGR9.8%
CAGR and maximum drawdown over each back test window, after charges. Model, back tested, not actual client returns. Source: RupeeCase published model record (lineup.json), monthly. As of 27 Apr 2026.
A long tape of teal trade points rising across navy, a thin spread ribbon and a volume floor, the latest tick lit

01Two model curves

₹100 in each, May 2021 to Jul 2026.

Large Midcap₹538Midcap₹560Nifty 50 TRI, 9.8% CAGR line₹162
150 200 300 500

Both models rebased to 100 at their common first month, log scale, with the Nifty 50 TRI drawn as its 9.8% CAGR line. Model, back tested. As of 27 Apr 2026. After charges.

02Every figure

14 rows, side by side.

A tick marks the better figure of the two: higher return and ratios, shallower fall, lower volatility, lower entry. The Nifty 50 column is the index over the same window.

MetricLarge MidcapMidcapNifty 50 TRI
CAGR37.83%38.75%9.8%
Sharpe ratio1.691.490.73
Sortino ratio1.601.460.70
Calmar ratio2.081.660.58
Max drawdown−19.31%−24.87%−16.92%
Volatility, a year21.36%25.44%14.04%
Net return, cumulative+384.75%+423.17%+59.62%
Back test windowrolling 5 yearsrolling 5 years
Minimum capitalAbout ₹1,99,000About ₹90,000
Stocks held402050
RebalanceEvery 2 weeksEvery 2 weeks
UniverseNifty LargeMidCap 250Nifty Midcap 150Nifty 50
Risk bandModerately HighHigh
TierGrowth coreGrowth core

How far each model fell from its last high

How far each model fell from its last highLarge Midcap: from 0.0% at 31 May 2021 to 0.0% at 31 Jul 2026, high 0.0% at 31 May 2021, low −18.7% at 28 Feb 2025. Midcap: from 0.0% at 31 May 2021 to −0.7% at 31 Jul 2026, high 0.0% at 31 May 2021, low −23.8% at 28 Feb 2025.Large MidcapMidcap−25%−20%−15%−10%−5%0%Jan 2022Jan 2024Jan 2026
Fall from the previous model high at each month end; 0% means a new high. Lowest: Large Midcap −18.7% at Feb 2025; Midcap −23.8% at Feb 2025. Monthly points, so the daily low was deeper. Model, back tested, not actual client returns. Source: RupeeCase published model record (lineup.json), monthly. As of 31 Jul 2026.

Large Midcap, model return by calendar year

Large Midcap, model return by calendar yearLarge Midcap, model return by calendar year: 2021 33.6%, 2022 45.2%, 2023 66.7%, 2024 44.6%, 2025 7.5%, 2026 to Apr 7.8%.34%202145%202267%202345%20248%20258%2026 toApr
2021 starts at the back test start; 2026 runs to 27 Apr 2026. After charges. Model, back tested, not actual client returns. Source: RupeeCase published strategy record (strategies.json). As of 27 Apr 2026.

Midcap, model return by calendar year

Midcap, model return by calendar yearMidcap, model return by calendar year: 2021 37.5%, 2022 41.3%, 2023 79.4%, 2024 51.1%, 2025 5.6%, 2026 to Apr 1.3%.38%202141%202279%202351%20246%20251%2026 toApr
2021 starts at the back test start; 2026 runs to 27 Apr 2026. After charges. Model, back tested, not actual client returns. Source: RupeeCase published strategy record (strategies.json). As of 27 Apr 2026.

CAGR, Sharpe and max drawdown: Model, back tested. As of 27 Apr 2026. Sortino, Calmar, volatility and net return: model, back tested over each strategy's own window, to 27 Apr 2026. Minimum capital as of 8 Aug 2026. Not a promise of future returns.

03Holdings overlap

20 names in both lists.

20 of the 40 names in Large Midcap also sit in Midcap (20 names): 50% of the larger list. Lists as of 11 May 2026 and 11 May 2026.

Held by both20

  • SUZLON
  • MAHABANK
  • COCHINSHIP
  • IDEA
  • BHEL
  • NATIONALUM
  • PREMIERENE
  • SAIL
  • NLCINDIA
  • HUDCO
  • ATGL
  • THERMAX
  • GVT&D
  • NAM-INDIA
  • TORNTPOWER
  • BSE
  • BHARATFORG
  • LLOYDSME
  • RADICO
  • MCX

Only in Large Midcap20

  • NTPCGREEN
  • ADANIENT
  • ADANIPOWER
  • VEDL
  • VBL
  • TATAPOWER
  • JSWENERGY
  • HAL
  • AUROPHARMA
  • NESTLEIND
  • LODHA
  • GODREJIND
  • CGPOWER
  • HINDALCO
  • ADANIGREEN
  • ADANIENSOL
  • PFC
  • SIEMENS
  • ADANIPORTS
  • ENRIN

Only in Midcap0

    Large Midcap: Not mapped yet is 30% of the names

    Large Midcap: Not mapped yet is 30% of the namesLarge Midcap: Not mapped yet is 30% of the names: Not mapped yet 30; Power & Utilities 23; Capital Goods 15; Banking & Financial 13; Metals & Mining 10.Not mapped yet30%Power & Utilities23%Capital Goods15%Banking &Financial13%Metals & Mining10%
    Top sectors of the 40 equity names on the latest list (11 May 2026), equal weight. ETF sleeves left out. Model, back tested, not actual client returns. Source: RupeeCase published lists and ticker sector map. As of 11 May 2026.

    Midcap: Not mapped yet is 25% of the names

    Midcap: Not mapped yet is 25% of the namesMidcap: Not mapped yet is 25% of the names: Not mapped yet 25; Power & Utilities 20; Banking & Financial 20; Capital Goods 15; Metals & Mining 10.Not mapped yet25%Power & Utilities20%Banking &Financial20%Capital Goods15%Metals & Mining10%
    Top sectors of the 20 equity names on the latest list (11 May 2026), equal weight. ETF sleeves left out. Model, back tested, not actual client returns. Source: RupeeCase published lists and ticker sector map. As of 11 May 2026.

    Model portfolios on the published lists; tickers are not recommendations. Holding both means the shared names carry weight twice.

    04The trade off

    Who each is written for.

    • Higher model growth: Midcap (38.75% against 37.83%)
    • Better risk adjusted return: Large Midcap (Sharpe 1.69 against Sharpe 1.49)
    • Shallower deepest fall: Large Midcap (19.31% against 24.87%)
    • Lower entry: Midcap (₹90,000 against ₹1,99,000)

    Large Midcap

    Moderately High risk band

    Written for
    Investors who want growth but read a 25% drawdown as opportunity, not panic
    Time horizon
    5 years or longer. Drawdowns of 19% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
    Capital
    About ₹1,99,000, one share of every holding at recent prices
    Large Midcap strategy page

    Midcap

    High risk band

    Written for
    Growth-oriented investors comfortable with double-digit drawdowns
    Time horizon
    5 years or longer. Drawdowns of 25% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
    Capital
    About ₹90,000, one share of every holding at recent prices
    Midcap strategy page

    A description of each strategy, not a recommendation. Decide your own allocation, or ask a SEBI registered investment adviser. Model, back tested. As of 27 Apr 2026.

    05Next

    Change the pair, or go deeper.

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    06Questions

    Large Midcap vs Midcap,
    in plain words.

    Which has the higher model CAGR, Large Midcap or Midcap?

    Midcap: 38.75% against 37.83%, with the Nifty 50 TRI line at 9.8%. Model, back tested. As of 27 Apr 2026. After charges; past performance does not guarantee future returns.

    Which fell less in the back test, Large Midcap or Midcap?

    Large Midcap: a deepest model fall of 19.31% against 24.87%. Large Midcap's deepest daily drawdown ran 378 days from 27 Sep 2024. Midcap's ran 322 days from 20 Dec 2024. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again.

    Can I hold Large Midcap and Midcap together?

    Yes, each is a separate rules based index in your own demat, and 20 names sit in both lists today, so they carry weight twice. Minimum capital is about ₹1,99,000 and ₹90,000; the fee is 0.2% of traded value per rebalance on each. RupeeCase is not an investment adviser; decide your own allocation.

    Explore next

    Go deeper on both strategies.

    Large Midcap or Midcap.
    Read both, then decide.

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    0.2% of traded value per rebalance. No AUM fee, no lock in. Model, back tested. As of 27 Apr 2026.