--- title: "Midcap Smallcap Factsheet | Model Back Test | RupeeCase" description: "Midcap Smallcap factsheet: model CAGR 42.64%, max drawdown −26.17%, back tested as of 27 Apr 2026. Holdings, months, falls, costs. Print or save as PDF." source_url: "https://www.rupeecase.com/strategies/factsheets/midcap-smallcap" --- Factsheet, model back tested # Midcap Smallcap factsheet Midcap Smallcap is a RupeeCase index that holds 40 stocks from the NSE Universe, ranked by price momentum, rebalanced every 2 weeks. Model CAGR 42.6% (back tested, as of 27 Apr 2026), minimum about ₹80,000 (as of 8 Aug 2026), moderately high risk band. The Midcap Smallcap factsheet puts its model, back tested record on one printable page. [Sign up for RupeeCase](https://invest.rupeecase.com/signup?strategy=midcap-smallcap) 40 stocks, fortnightly rotation. Momentum on the NSE Universe under 2000. Calendar years, model, back tested, after charges. Print or save as PDF Email me the PDF [Read the Midcap Smallcap strategy page](/strategies/midcap-smallcap) CAGR**42.64%**Nifty 50 TRI line 9.8% Max drawdown**−26.17%**peak to trough, model Sharpe ratio**1.63**Nifty 50 0.73 Minimum capital**₹80K**about ₹80,000 Model, back tested. As of 27 Apr 2026. After charges. Not a promise of future returns. Midcap Smallcap, model**₹737**Nifty 50 TRI, 9.8% CAGR line**₹162** 150 200 300 500 700 ₹100 became ₹737, May 2021 to Jul 2026 (Nifty 50 TRI line ₹162). Log scale. ### Performance, risk, efficiency * Metric**Midcap Smallcap***Nifty 50* * Performance * CAGR**42.64%***9.8%* * Cumulative return**+527.87%***+59.62%* * Sharpe ratio**1.63***0.73* * Sortino ratio**1.48***0.70* * Calmar ratio**1.91***0.58* * Risk * Max drawdown**−26.17%***−16.92%* * Volatility, a year**27.02%***14.04%* * Best week**+9.60%***+6.36%* * Worst week**−13.44%***−6.33%* * Efficiency * Weeks up**65.13%***57.47%* * Average up week**+2.98%***+1.49%* * Average down week**−3.13%***−1.57%* Model, after charges; weekly, rolling 5 years to 27 Apr 2026. CAGR, Sharpe and max drawdown as of 27 Apr 2026. ### Configuration UniverseNSE Universe (max 2000) SleevesEquity 100 Holdings40, equal weight in the equity sleeve RebalanceEvery 2 weeks, 26 a year Max stock price₹2,000 TierGrowth core BenchmarkNifty 50 Minimum as of8 Aug 2026 Back test from7 May 2021 Metrics windowRolling 5 years ### Calendar year returns * 2021from May**+56.9%** * 2022**+26.9%** * 2023**+98.3%** * 2024**+86.0%** * 2025**−8.7%** * 2026to May**+13.0%** Model, back tested, after charges, 2021 to May 2026. ### Deepest falls 1. **−26.17%**20 Dec 2024 to 1 May 2026*497 days* 2. **−18.10%**21 Jan 2022 to 19 Aug 2022*210 days* 3. **−17.77%**23 Dec 2022 to 19 May 2023*147 days* 4. **−12.18%**9 Feb 2024 to 29 Mar 2024*49 days* 5. **−11.45%**6 Aug 2021 to 3 Sep 2021*28 days* Daily model record, rolling 5 years: peak to low, days to recover. ### Monthly returns * **2021**no datano datano datano data3.116.78.7−4.57.00.9−0.316.8**+56.9%** * **2022**2.7−12.05.84.5−7.71.410.37.1−0.43.36.44.9**+26.9%** * **2023**−8.2−6.62.49.26.211.716.913.42.04.612.59.7**+98.3%** * **2024**11.32.2−3.812.07.312.03.57.97.2−5.88.53.2**+86.0%** * **2025**−10.9−14.15.2−0.110.91.9−2.62.8−2.7−1.6−2.17.1**−8.7%** * **2026**−1.35.7−12.117.45.0no datano datano datano datano datano datano data**+13.0%** Model, after charges; one calendar month per cell, in percent. ### 40 holdings * Equity**100%** Equal weight, 2.5% each. * HFCL * STLTECH * WEBELSOLAR * CUPID * QPOWER * APOLLO * WELCORP * JTLIND * ADANIPOWER * JAYNECOIND * GALLANTT * TDPOWERSYS * PRECWIRE * KRN * ADANIGREEN * ADANIENSOL * AEROFLEX * BAJAJCON * EPIGRAL * PAISALO * LLOYDSME * LLOYDSENT * MANINDS * IDEAFORGE * SUNFLAG * BHEL * COHANCE * HCC * CYIENTDLM * MANINFRA * KIRLPNU * BALAMINES * JAIBALAJI * HSCL * KPEL * SCI * SKYGOLD * SKIPPER * ELECON * FUSION 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 * Other, not yet mapped**27.5%** * Power & Utilities**17.5%** * Chemicals**10.0%** * Metals & Mining**10.0%** * Capital Goods**10.0%** * IT & Technology**7.5%** * FMCG & Consumer**7.5%** * Pharma & Healthcare**2.5%** * Banking & Financial**2.5%** * Realty & Construction**2.5%** * Energy & Oil & Gas**2.5%** 11 sectors in the equity sleeve. ### How it works 1. 1**Universe**NSE Universe, stocks priced under ₹2,000. 2. 2**Rank**A risk adjusted momentum composite scores every stock. 3. 3**Select**The top 40 names, equal weighted. 4. 4**Rebalance**Every 2 weeks: names out are sold, entrants bought, the list published. ### Costs Platform fee0.2% of traded value per rebalance; no AUM or performance fee, no lock in A year on the minimum, about₹2,050 (2.6% of capital): 27 rebalances in the year to 8 May 2026, about 12.8 times the portfolio traded (sales and purchases), model record Inside the back testGross +787.03%, costs −128.94 pts, net +658.09%, rolling 5 years to 27 Apr 2026 Broker sideBrokerage, STT, exchange charges, GST ### Rebalance record Published rebalances131, 14 May 2021 to 8 May 2026 Names on the latest list57 (target 40) Every list is public, with the names in and out. RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model figures are back tested, after estimated charges, and are not actual client returns or a promise of future returns; capital can be lost. Prices: NSE BhavCopy; the back test deducts brokerage, STT, exchange charges and GST. https://www.rupeecase.com/strategies/factsheets/midcap-smallcap 02The PDF ## Email me the PDF. No sign up to read; Print saves a PDF. Leave an email for a copy and a note when Midcap Smallcap rebalances. Two emails a month at most. Noted on this device. Print saves the PDF any time. In the app ## How a strategy is chosen. 1. 1Search finds strategies by name, theme or type: here, mid. 2. 2Each card: growth per year beside the NIFTY 50, max drawdown, risk band, minimum, rebalance and stocks. 3. 3The strategy page: model history after charges, the NIFTY 50 beside it, and the risk band. 4. 4Key figures: today, growth per year and max drawdown, each beside the NIFTY 50. 5. 5The History tab: every rebalance in the model record, with the stocks sold and how each did. Screens from the RupeeCase app, shown with Allcap. Model, back tested. As of 27 Apr 2026. [Watch the walkthrough](/strategies/#sxChoose) 03Documents ## Everything behind the sheet. * [Midcap Smallcap strategy page](/strategies/midcap-smallcap) * [Rebalance history131 rebalances](/rebalance/midcap-smallcap/) * [Rebalance history, CSV](/data/rebalances/midcap-smallcap.csv) * [Midcap Smallcap as plain text](/strategies/midcap-smallcap.md) * [Growth core tier](/strategies/by-tier/mid-aggressive) * [Disclaimers](/disclaimers) ### Compare Midcap Smallcap with * [vsMidcap](/strategies/compare/midcap-vs-midcap-smallcap) * [vsLarge Midcap](/strategies/compare/midcap-smallcap-vs-large-midcap) * [vs5Paisa Focused Alpha 5](/strategies/compare/5paisa-focused-alpha-5-vs-midcap-smallcap) * [vsAllcap Multi Asset](/strategies/compare/midcap-smallcap-vs-allcap-multi-asset) ### Other factsheets * [higher CAGRAllcapCAGR 44.7%](/strategies/factsheets/allcap) * [lower CAGRAllcap Multi AssetCAGR 40.5%](/strategies/factsheets/allcap-multi-asset) * [Mid and smallMidcap](/strategies/factsheets/midcap) * [Mid and smallSmallcap](/strategies/factsheets/smallcap) CAGR on the cards: Model, back tested. As of 27 Apr 2026. 04Questions ## The Midcap Smallcap factsheet, in plain words. ### What does the Midcap Smallcap factsheet show? The model, back tested record of Midcap Smallcap: a CAGR of 42.64%, a deepest fall of −26.17% and a Sharpe ratio of 1.63 as of 27 Apr 2026, with 40 holdings rebalanced every 2 weeks. Every figure is after estimated charges and names its date. ### What does it cost to run Midcap Smallcap? 0.2% of traded value per rebalance, nothing else: no subscription, no AUM fee, no performance fee and no lock in. About 2.6% of capital a year at 0.2% of traded value, from the published rebalance record: 27 rebalances in the year to 8 May 2026, about 12.8 times the portfolio traded (sales and purchases). Weight resets and broker side charges (brokerage, STT, exchange charges, GST) are not included. Turnover varies year to year. On the minimum capital of ₹80,000 that is about ₹2,050 a year, an estimate from the model record, not a promise. ### How much capital does Midcap Smallcap need? About ₹80,000, enough to hold one share of every name at recent prices, as of 8 Aug 2026. More capital tracks the model weights more closely. ### Are these actual returns? No. RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model figures are back tested, after estimated charges, and are not actual client returns or a promise of future returns; capital can be lost. Explore next ## Read the record behind the factsheet. * [Free module 3.1The Momentum Factor11 min read](/learn/path-3/module-3-1-momentum-factor-deep-dive) * [Blog noteMidcap Smallcap: breadth is not diversificationStrategy notes, a short note](/blog/2026-06-30-evening-midcap-smallcap-breadth/) * [SectorCapital Goods stocksNSE sector across the 18 index algos](/sectors/capital-goods) * [Free module 2.4How Backtesting Works8 min read](/learn/path-2/module-2-4-how-backtesting-works) ## Midcap Smallcap. Read the rules, then decide. [Sign up for RupeeCase](https://invest.rupeecase.com/signup?strategy=midcap-smallcap)[Compare with Midcap](/strategies/compare/midcap-vs-midcap-smallcap) About ₹80K to start. 0.2% of traded value per rebalance, no lock in.