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Strategy against strategy

Midcap vs Energy Basket

Midcap (momentum, Nifty Midcap 150) against Energy Basket (thematic, CNX Energy): 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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  • 38.8%Midcap, CAGR
  • 33.1%Energy Basket, CAGR
  • −24.9%Midcap, deepest fall
  • −39.5%Energy Basket, deepest fall

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

38.8% against 33.1% a year, and the worst fall of each

38.8% against 33.1% a year, and the worst fall of each38.8% against 33.1% a year, and the worst fall of each: Midcap, CAGR 38.75; Midcap, deepest fall -24.87; Energy Basket, CAGR 33.12; Energy Basket, deepest fall -39.48; Nifty 50 TRI, CAGR 9.8.Midcap, CAGR38.8%Midcap, deepestfall−24.9%Energy Basket,CAGR33.1%Energy Basket,deepest fall−39.5%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 navy topographic contour map whose ridge traces a rising return curve in teal

01Two model curves

₹100 in each, May 2021 to Jul 2026.

Midcap₹560Energy Basket₹410Nifty 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.

MetricMidcapEnergy BasketNifty 50 TRI
CAGR38.75%33.12%9.8%
Sharpe ratio1.491.120.73
Sortino ratio1.461.190.70
Calmar ratio1.660.870.58
Max drawdown−24.87%−39.48%−16.92%
Volatility, a year25.44%30.47%14.04%
Net return, cumulative+423.17%+307.69%+59.62%
Back test windowrolling 5 yearsrolling 5 years
Minimum capitalAbout ₹90,000About ₹75,000
Stocks held201050
RebalanceEvery 2 weeksEvery week
UniverseNifty Midcap 150CNX EnergyNifty 50
Risk bandHighHigh
TierGrowth coreThematic satellite

How far each model fell from its last high

How far each model fell from its last highMidcap: 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. Energy Basket: from 0.0% at 31 May 2021 to −15.0% at 31 Jul 2026, high 0.0% at 31 May 2021, low −39.0% at 28 Feb 2025.MidcapEnergy Basket−40%−30%−20%−10%0%Jan 2022Jan 2024Jan 2026
Fall from the previous model high at each month end; 0% means a new high. Lowest: Midcap −23.8% at Feb 2025; Energy Basket −39.0% 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.

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.

Energy Basket, model return by calendar year

Energy Basket, model return by calendar yearEnergy Basket, model return by calendar year: 2021 50.4%, 2022 18%, 2023 108.8%, 2024 16.1%, 2025 -14.6%, 2026 to Apr 19.4%.50%202118%2022109%202316%2024−15%202519%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

5 names in both lists.

5 of the 20 names in Midcap also sit in Energy Basket (10 names): 25% of the larger list. Lists as of 11 May 2026 and 11 May 2026.

Held by both5

  • SUZLON
  • THERMAX
  • BHEL
  • TORNTPOWER
  • GVT&D

Only in Midcap15

  • HUDCO
  • IDEA
  • MAHABANK
  • NATIONALUM
  • SAIL
  • NLCINDIA
  • ATGL
  • NAM-INDIA
  • BSE
  • BHARATFORG
  • PREMIERENE
  • LLOYDSME
  • RADICO
  • COCHINSHIP
  • MCX

Only in Energy Basket5

  • ADANIPOWER
  • JPPOWER
  • ABB
  • ADANIGREEN
  • ADANIENSOL

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.

Energy Basket: Power & Utilities is 60% of the names

Energy Basket: Power & Utilities is 60% of the namesEnergy Basket: Power & Utilities is 60% of the names: Power & Utilities 60; Capital Goods 30; Not mapped yet 10.Power & Utilities60%Capital Goods30%Not mapped yet10%
Top sectors of the 10 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 33.12%)
  • Better risk adjusted return: Midcap (Sharpe 1.49 against Sharpe 1.12)
  • Shallower deepest fall: Midcap (24.87% against 39.48%)
  • Lower entry: Energy Basket (₹75,000 against ₹90,000)

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

Energy Basket

High risk band

Written for
Growth-oriented investors comfortable with double-digit drawdowns
Time horizon
5 years or longer. Drawdowns of 39% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Capital
About ₹75,000, one share of every holding at recent prices
Energy Basket 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.

Pick any two strategies

More pairs

06Questions

Midcap vs Energy Basket,
in plain words.

Which has the higher model CAGR, Midcap or Energy Basket?

Midcap: 38.75% against 33.12%, 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, Midcap or Energy Basket?

Midcap: a deepest model fall of 24.87% against 39.48%. Midcap's deepest daily drawdown ran 322 days from 20 Dec 2024. Energy Basket's ran 126 days from 15 Apr 2022. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again.

Can I hold Midcap and Energy Basket together?

Yes, each is a separate rules based index in your own demat, and 5 names sit in both lists today, so they carry weight twice. Minimum capital is about ₹90,000 and ₹75,000; 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.

Midcap or Energy Basket.
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.