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Momentum, Nifty Microcap 250

Microcap momentum strategy

Microcap is a RupeeCase index that holds 50 stocks from the Nifty Microcap 250, ranked by price momentum, rebalanced every 2 weeks. Model CAGR 37.3% (back tested, as of 27 Apr 2026), minimum about ₹2,25,000 (as of 8 Aug 2026), moderately high risk band.

A microcap strategy: 50 stocks from the Nifty Microcap 250. The deepest cap-curve card on the lineup.

Moderately High risk band

Sign up for RupeeCase Compare with Smallcap

Runs in your own 5paisa, Zebu or Arrow demat. The shares stay in your name.

01At a glance

Microcap in four numbers.

CAGR
37.33%Model, back tested
Max drawdown
−26.43%Model, back tested
Minimum investment
₹2.25LAbout ₹2,25,000
Fee per rebalance
0.2%Of traded value, nothing else
Microcap, model₹534Nifty 50 TRI, 9.80% CAGR line₹162
150 200 300 500

₹100 in May 2021 became ₹534 by Jul 2026 (Nifty 50 TRI line ₹162). Model, back tested. As of 27 Apr 2026. After charges, log scale.

02Three steps

Compare. Validate. Invest.

  1. Compare

    Against the other 17 strategies, and funds, PMS and AIF.

    Compare strategies

  2. Validate the back test

    Every year, fall, holding and rebalance, in the factsheet.

    Open the factsheet

  3. Invest

    Link your broker and approve each rebalance. Stocks stay in your own demat; RupeeCase never holds your money.

    Invest in Microcap

Invest, screen by screen

Watch the walkthrough, 0:46
  1. The RupeeCase app on a phone. Each strategy page shows its model history and the Invest bar with the minimum.
    1Each strategy page shows its model history and the Invest bar with the minimum.
  2. The RupeeCase app on a phone. The sheet opens with the minimum as the amount; Use minimum puts it back.
    2The sheet opens with the minimum as the amount; Use minimum puts it back.
  3. The RupeeCase app on a phone. Practice follows the strategy with no real broker order.
    3Practice follows the strategy with no real broker order.
  4. The RupeeCase app on a phone. Live shows your broker cash and asks for your consent before any order.
    4Live shows your broker cash and asks for your consent before any order.

Screens from the RupeeCase app. Model, back tested figures as of 27 Apr 2026; portfolio screens are a sample for illustration.

Get the next rebalance by emailThe names in and out, on the morning Microcap rebalances. Every 2 weeks. Free, one click to stop.

03Factsheet

Microcap factsheet

Model, back tested, after charges; each block names its date.

PDF factsheet

Performance

Calendar year returns

  • 2021from May+42.1%
  • 2022+17.9%
  • 2023+92.8%
  • 2024+67.7%
  • 2025−7.3%
  • 2026to May+8.1%

Model, back tested, after charges, 2021 to May 2026.

What an amount would have become

You put in
₹2,25,000
Model value
 
Gain
 

Model, back tested monthly returns after charges, May 2021 to May 2026 (61 months).

Stress test: drag through the falls

MonthFeb 2025
Below the last peak−25.3%
Back to the peak 
Model value, log scaleBelow the last peak
Deepest falls, daily record
Exact dates of the deepest falls
  1. −18.92%21 Jan 2022 to 19 Aug 2022210 days
  2. −12.60%6 Aug 2021 to 24 Sep 202149 days
  3. −10.90%9 Feb 2024 to 29 Mar 202449 days
  4. −8.24%22 Oct 2021 to 3 Dec 202142 days
  5. −6.74%20 Jan 2023 to 7 Apr 202377 days

Daily model record over rolling 5 years: peak to low, and days until back at that peak.

Model, back tested. As of 27 Apr 2026. Month end values, May 2021 to Jul 2026, so falls read shallower than the daily figures on the buttons. Falls this deep can happen again.

Monthly returns

Microcap: monthly model returns, percent, after charges
YearJanFebMarAprMayJunJulAugSepOctNovDecYear
2021no datano datano datano data1.99.813.8−6.44.92.9−1.712.5+42.1%
20221.1−10.77.37.1−7.5−1.910.83.7−1.53.34.52.6+17.9%
2023−5.60.42.76.98.29.113.67.43.63.413.36.1+92.8%
202412.51.3−2.710.72.410.45.14.16.4−3.49.5−1.8+67.7%
2025−12.3−13.39.80.58.82.7−0.3−0.7−0.44.30.0−3.9−7.3%
2026−5.54.3−8.717.81.9no datano datano datano datano datano datano data+8.1%

Model, back tested, after charges; one calendar month per cell, in percent.

Rolling returns

Any 1 year, return
Worst
−7.3%
Median
+23.9%
Best
+132.1%
Positive
90%of 51 windows
Any 3 years, CAGR
Worst
+32.4%
Median
+49.1%
Best
+63.6%
Positive
100%of 27 windows

Model, back tested, month end values, May 2021 to Jul 2026.

Holdings and sectors

48 holdings

  • Equity91%
  • JAYNECOIND2.1%
  • HCC2.1%
  • JAIBALAJI2.1%
  • LLOYDSENT2.1%
  • LLOYDSENGG2.1%
  • EIEL2.1%
  • EMIL2.1%
  • DBREALTY2.1%
  • STLTECH2.0%
  • WEBELSOLAR2.0%
  • CUPID2.0%
  • APOLLO2.0%
  • BALAMINES2.0%
  • SKIPPER2.0%
  • DIACABS2.0%
  • GOKULAGRO2.0%
  • INOXINDIA2.0%
  • PFOCUS2.0%
  • PRAJIND2.0%
  • KTKBANK2.0%
  • PRUDENT2.0%
  • TMB2.0%
  • SHAILY2.0%
  • LXCHEM2.0%
  • EQUITASBNK2.0%
  • JSFB2.0%
  • SKYGOLD1.9%
  • PTC1.9%
  • ASHAPURMIN1.9%
  • AVANTIFEED1.9%
  • TANLA1.9%
  • ADVENZYMES1.9%
  • MANORAMA1.9%
  • BORORENEW1.9%
  • QPOWER1.8%
  • KRN1.8%
  • MIDHANI1.8%
  • PARAS1.8%
  • OPTIEMUS1.8%
  • TIPSMUSIC1.8%
  • PNGJL1.8%
  • TDPOWERSYS1.7%
  • SANSERA1.7%
  • POWERMECH1.7%
  • AETHER1.7%
  • AZAD1.5%
  • ANUP1.4%
  • KIRLPNU1.1%

Live quantities and prices are in the app. Sign up for RupeeCase

Weights on the rebalance day, 11 May 2026; they drift with prices until the next rebalance. Model portfolio, not a recommendation.

Sector allocation

  • Other, not yet mapped40.3%
  • Capital Goods14.7%
  • FMCG & Consumer12.6%
  • Chemicals8.2%
  • Power & Utilities6.0%
  • IT & Technology4.4%
  • Banking & Financial4.4%
  • Auto & Components3.5%
  • Realty & Construction2.3%
  • Metals & Mining2.2%
  • Pharma & Healthcare1.5%

11 sectors in the equity sleeve; 40.3% not yet in the sector map. Pure microcap spectrum with diverse holdings across multiple smaller cap segments.

Sector weight by year

132 rebalances, 12 sectors touched, 11 held now.

Show the year by year sector table
Average sector weight of the equity sleeve in each year, percent, and the weight on the latest published list
Sector202120222023202420252026Now
Other, not yet mapped83808077775440
Capital Goods33343715
FMCG & Consumer333561013
Chemicals1112258
Power & Utilities5323236
Auto & Components0222364
IT & Technology2211244
Banking & Financial0110024
Metals & Mining2243232
Pharma & Healthcare1123242
Realty & Construction0000002
Energy & Oil & Gas010002out

Average weight of the equity sleeve that year, equal weighted at the stock level; darker is higher. Now: the list of 11 May 2026.

Rebalances

The rebalance record

published rebalances
132
first in the record
14 May 2021
26 a year
Every 2 weeks
latest published
11 May 2026

A fixed calendar; you approve each rebalance before your broker places the orders.

Latest rebalance, 11 May 2026

Against the list of 8 May 2026: 0 in, 18 out, 48 held, 48 on the list.

Out
  • KSB
  • THANGAMAYL
  • OSWALPUMPS
  • AWFIS
  • IMFA
  • WAAREERTL
  • RTNINDIA
  • GAEL
  • SHRIPISTON
  • GOKEX
  • MAHSEAMLES
  • ASTRAMICRO
  • ALIVUS
  • LUMAXTECH
  • KRBL
  • STAR
  • EPL
  • AKUMS

The 48 held names are in Holdings.

Model, back tested record. In plus held is the list size, which can differ from the 50 stock target. Not recommendations.

Recent rebalances

The latest 6 rebalances: names on the list, names in and names out
DateOn the listInOut
11 May 2026480−18
8 May 202666+19−18
24 Apr 202665+15−17
10 Apr 202667+19−7
27 Mar 202655+6−8
13 Mar 202657+7−12

Every rebalance with its namesRebalance history, CSV

Sector shifts of 10 points or more

3 such shifts in 132 rebalances.

Show the latest six rebalances, what moved
  1. Other, not yet mapped +11 pts
  2. Other, not yet mapped −19 pts, Capital Goods +11 pts
  3. Other, not yet mapped −13 pts

Equity sleeve, between two consecutive lists.

Get the next rebalance by email

The names in and out, on the morning Microcap rebalances. Every 2 weeks. Free, one click to stop.

Risk metrics

Microcap against the Nifty 50

Risk and efficiency figures, model, back tested, against the Nifty 50
MetricMicrocapNifty 50
Sharpe ratio1.520.73
Sortino ratio1.420.70
Calmar ratio1.520.58
Volatility, a year24.09%14.04%
Max drawdown−26.43%−16.92%
Best week+9.09%+6.36%
Worst week−10.81%−6.33%
Weeks up63.22%57.47%
Average up week+2.68%+1.49%
Average down week−2.68%−1.57%

Model, back tested, after charges. Weekly, rolling 5 years to 27 Apr 2026; Nifty 50 over the same window.

Risk band

Moderately High, Low to Very High

Deepest model fall
−26.43%
Time horizon
5 years or longer. Drawdowns of 26% have happened in the backtest and can happen again. Capital you might need within 12 months should not be here.
Walk the risk band
One step safer (Moderate)Allcap Multi AssetCAGR 40.5%, Sharpe 1.81, max drawdown −21.3%One step bolder (High)MidcapCAGR 38.8%, Sharpe 1.49, max drawdown −24.9%

Card figures: Model, back tested. As of 27 Apr 2026. Take the risk profile to find your band.

Watch the figures explained

Methodology

How it works

  1. 1
    Universe

    Start from the Nifty Microcap 250, filtered to stocks priced under ₹5,000.

  2. 2
    Rank

    Score every stock by a risk adjusted momentum composite over several look backs.

  3. 3
    Select

    Hold the top 50 names by score, equal weighted so no single name dominates.

  4. 4
    Rebalance

    Every 2 weeks the model reruns: names out of the top 50 are sold, new entrants bought, and the full list is published.

Configuration

Universe
Nifty Microcap 250
Sleeves
Equity 100
Holdings
50, equal weight
Rebalance
Every 2 weeks, 26 a year
Max stock price
₹5,000
Benchmark
Nifty 50 (charts: Nifty 50 TRI CAGR line)
Back test from
7 May 2021
Metrics window
Rolling 5 years
Prices
NSE BhavCopy, after brokerage, STT, exchange charges and GST
Written for
Investors who want growth but read a 25% drawdown as opportunity, not panic

Why Microcap

A long tape of teal trade points rising across navy, a thin spread ribbon and a volume floor, the latest tick lit
Tick by tick, drawn as data
  • Deep microcap momentum from the Nifty Microcap 250
  • 50 stocks equal-weighted, rebalanced fortnightly
  • The only card on the lineup drawn entirely from microcaps
  • Satellite sizing: 5 to 10% of equity next to a diversified core
Read 5 more paragraphs, 149 words

Fifty stocks from the Nifty Microcap 250 universe, equal-weighted at roughly 2% each, rebalanced every 2 weeks. The deepest cap-curve card on the lineup.

The 50-stock equal-weight structure spreads single-name risk. Individual microcaps can gap violently on no news. Fifty of them at roughly 2% each turn that violence into noise.

Microcap risk shows up in drawdown depth more than return uplift. The segment falls harder than small caps in a correction and takes longer to be believed on the way back. Compare this card's drawdown figures with Smallcap's before choosing between them.

This is not the obvious pick at this minimum capital. Smallcap runs a similar structure one shelf up the cap curve, with more liquid names and a milder regime cycle.

For an investor who specifically wants microcap exposure, distinct cap-curve risk, distinct stock-selection edge, this is the only card on the lineup drawn entirely from microcaps.

A description, not a recommendation. Decide your own allocation, or ask a SEBI registered investment adviser.

How the rule was built

Machine learning tested the signals, the number of names and the cadence out of sample. The rule that ships is frozen and published: a fixed, readable algorithm, not a black box.

The engine and the audit trail

Learn the mechanics

Free Learn modules, no sign up.

Costs

One fee per rebalance

0.2%of traded value, charged only when a rebalance trades

No subscription, AUM or performance fee; broker charges are separate. Fee calculator Pricing

A year on the minimum

Minimum capital
₹2,25,000
Rebalances, year to 11 May 2026
27
Traded, about
9.2 timesthe portfolio
Platform fee a year, about
₹4,1201.8% of capital

Estimate from the model rebalance record at 0.2% of traded value; weight resets and broker charges excluded.

Costs inside the back test

Gross return
+506.22%before costs
Estimated costs
−63.77 ptsbrokerage, STT and taxes
Net return
+442.45%after costs
Nifty 50, same window
+59.62%cumulative

Model, back tested, cumulative, rolling 5 years to 27 Apr 2026. Net is gross minus estimated costs.

RupeeCase is a technology platform, not a fund, a PMS or a SEBI registered investment adviser. Model, back tested. As of 27 Apr 2026. Model figures are after estimated charges and are not actual client returns. Past performance does not guarantee future returns; capital can be lost.

Invest, the walkthrough

Allcap, model history after charges. Model, back tested. Not a promise of future returns.

Investing: Practice first, then Live

5 chapters, 0:46, no sound

  1. Chapter 1The Invest bar0:08
  2. Chapter 2Amount and Use minimum0:13
  3. Chapter 3Practice0:06
  4. Chapter 4Live0:14
  5. Chapter 5Your portfolio0:05
Steps in this video
  1. Allcap, model history after charges. Model, back tested. Not a promise of future returns.
  2. The Invest bar shows the minimum for this strategy.
  3. Invest opens the sheet with the minimum as the amount.
  4. Type any amount at or above the minimum.
  5. Use minimum puts the minimum back.
  6. Practice is chosen first. It follows the strategy with no real broker order.
  7. Live shows the cash at your broker.
  8. Nothing is sent until you accept the consent text and press Invest now.
  9. Each portfolio shows its mode, broker and status at the top.

04Questions

Before you
commit capital.

What is the Microcap strategy?

50 stocks from the Nifty Microcap 250. The deepest cap-curve card on the lineup. It selects the top 50 momentum names from Nifty Microcap 250 and rebalances every 2 weeks.

What is the minimum investment for Microcap?

About ₹2,25,000 (as of 8 Aug 2026), enough to hold one share of every name in the book at recent prices. The figure moves with the prices of the holdings.

How does Microcap compare to the Nifty 50?

Microcap shows a model CAGR of 37.33% against 9.80% for the Nifty 50 TRI CAGR line (Jan 2021 to Jul 2026), with a Sharpe ratio of 1.52. Model, back tested. As of 27 Apr 2026. Past performance does not guarantee future returns.

What is the worst drawdown Microcap has experienced?

26.43% peak to trough in the model record. The deepest period ran 210 days, from 21 Jan 2022 to 19 Aug 2022. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again, so size the position for it.

What are the fees on Microcap?

0.2% of traded value per rebalance. No subscription, no AUM fee, no performance fee. About 1.8% of capital a year at 0.2% of traded value, from the published rebalance record: 27 rebalances in the year to 11 May 2026, about 9.2 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 ₹2,25,000 that is about ₹4,120 a year, an estimate from the model record, not a promise.

Can I exit Microcap at any time?

Yes. No lock-in. Holdings sit in your own broker demat account and you can sell any name on any market day. Switching strategies or pausing the rebalance is a one-click action on the platform.

05Same family

Mid and small: Midcap 150, Smallcap 250, Microcap.

All 18 strategies
HighMomentum Midcap Nifty Midcap 150, 20 stocks, every 2 weeks CAGR, model38.75%Max DD−24.9%From₹90K Moderately HighMomentum Smallcap Nifty Smallcap 250, 50 stocks, every 2 weeks CAGR, model37.40%Max DD−22.3%From₹2.19L Moderately HighMomentum Midcap Smallcap NSE Universe, 40 stocks, every 2 weeks CAGR, model42.64%Max DD−26.2%From₹80K

CAGR and Max DD on the cards: Model, back tested. As of 27 Apr 2026.

Compare Microcap with

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Go deeper on this strategy.

Ready when you are

Microcap

37.33% CAGR, model, back tested. About ₹2.25L to start. Every 2 weeks, you approve each one.

Sign up for RupeeCase Compare with Smallcap

0.2% of traded value per rebalance. No AUM fee, no lock in. Line: the model record after charges, as of 27 Apr 2026. Not a promise of future returns.