--- title: "Microcap Strategy | Nifty Microcap 250 | RupeeCase" description: "50 stocks from the Nifty Microcap 250, equal weight, rotated every 2 weeks. The deepest cap card on the lineup, in your own demat, 0.2% per rebalance." source_url: "https://www.rupeecase.com/strategies/microcap" --- 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](https://invest.rupeecase.com/signup?strategy=microcap) [Compare with Smallcap](/strategies/compare/smallcap-vs-microcap) 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**₹2.25L**About ₹2,25,000 Fee per rebalance**0.2%**Of traded value, nothing else Microcap, model**₹534**Nifty 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](/compare) 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](https://invest.rupeecase.com/signup?strategy=microcap) ### Invest, screen by screen Watch the walkthrough, 0:46 1. 1Each strategy page shows its model history and the Invest bar with the minimum. 2. 2The sheet opens with the minimum as the amount; Use minimum puts it back. 3. 3Practice follows the strategy with no real broker order. 4. 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. 03Factsheet ## Microcap factsheet Model, back tested, after charges; each block names its date. Print [PDF factsheet](https://www.rupeecase.com/strategies/factsheets/microcap) Performance Holdings and sectors Rebalances Risk metrics Methodology Costs Documents ### Performance6 years, 61 months ### 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 One time Every month Amount, ₹ 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 Month**Feb 2025** Below the last peak**−25.3%** Back to the peak Model value, log scaleBelow the last peak Month on the record Deepest falls, daily record **−18.9%**Jan 2022, 210 days to recover **−12.6%**Aug 2021, 49 days to recover **−10.9%**Feb 2024, 49 days to recover **−8.2%**Oct 2021, 42 days to recover Exact dates of the deepest falls 1. **−18.92%**21 Jan 2022 to 19 Aug 2022*210 days* 2. **−12.60%**6 Aug 2021 to 24 Sep 2021*49 days* 3. **−10.90%**9 Feb 2024 to 29 Mar 2024*49 days* 4. **−8.24%**22 Oct 2021 to 3 Dec 2021*42 days* 5. **−6.74%**20 Jan 2023 to 7 Apr 2023*77 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 | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2021 | no data | no data | no data | no data | 1.9 | 9.8 | 13.8 | −6.4 | 4.9 | 2.9 | −1.7 | 12.5 | +42.1% | | 2022 | 1.1 | −10.7 | 7.3 | 7.1 | −7.5 | −1.9 | 10.8 | 3.7 | −1.5 | 3.3 | 4.5 | 2.6 | +17.9% | | 2023 | −5.6 | 0.4 | 2.7 | 6.9 | 8.2 | 9.1 | 13.6 | 7.4 | 3.6 | 3.4 | 13.3 | 6.1 | +92.8% | | 2024 | 12.5 | 1.3 | −2.7 | 10.7 | 2.4 | 10.4 | 5.1 | 4.1 | 6.4 | −3.4 | 9.5 | −1.8 | +67.7% | | 2025 | −12.3 | −13.3 | 9.8 | 0.5 | 8.8 | 2.7 | −0.3 | −0.7 | −0.4 | 4.3 | 0.0 | −3.9 | −7.3% | | 2026 | −5.5 | 4.3 | −8.7 | 17.8 | 1.9 | no data | no data | no data | no data | no data | no data | no 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% Positive90%of 51 windows ##### Any 3 years, CAGR Worst+32.4% Median+49.1% Best+63.6% Positive100%of 27 windows Model, back tested, month end values, May 2021 to Jul 2026. ### Holdings and sectors48 holdings, 11 sectors ### Holdings and sectors #### 48 holdings * Equity**91%** * JAYNECOIND**2.1%** * HCC**2.1%** * JAIBALAJI**2.1%** * LLOYDSENT**2.1%** * LLOYDSENGG**2.1%** * EIEL**2.1%** * EMIL**2.1%** * DBREALTY**2.1%** * STLTECH**2.0%** * WEBELSOLAR**2.0%** * CUPID**2.0%** * APOLLO**2.0%** * BALAMINES**2.0%** * SKIPPER**2.0%** * DIACABS**2.0%** * GOKULAGRO**2.0%** * INOXINDIA**2.0%** * PFOCUS**2.0%** * PRAJIND**2.0%** * KTKBANK**2.0%** * PRUDENT**2.0%** * TMB**2.0%** * SHAILY**2.0%** * LXCHEM**2.0%** * EQUITASBNK**2.0%** * JSFB**2.0%** * SKYGOLD**1.9%** * PTC**1.9%** * ASHAPURMIN**1.9%** * AVANTIFEED**1.9%** * TANLA**1.9%** * ADVENZYMES**1.9%** * MANORAMA**1.9%** * BORORENEW**1.9%** * QPOWER**1.8%** * KRN**1.8%** * MIDHANI**1.8%** * PARAS**1.8%** * OPTIEMUS**1.8%** * TIPSMUSIC**1.8%** * PNGJL**1.8%** * TDPOWERSYS**1.7%** * SANSERA**1.7%** * POWERMECH**1.7%** * AETHER**1.7%** * AZAD**1.5%** * ANUP**1.4%** * KIRLPNU**1.1%** Live quantities and prices are in the app. [Sign up for RupeeCase](https://invest.rupeecase.com/signup?strategy=microcap) 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 mapped**40.3%** * Capital Goods**14.7%** * FMCG & Consumer**12.6%** * Chemicals**8.2%** * Power & Utilities**6.0%** * IT & Technology**4.4%** * Banking & Financial**4.4%** * Auto & Components**3.5%** * Realty & Construction**2.3%** * Metals & Mining**2.2%** * Pharma & Healthcare**1.5%** 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 | Sector | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Now | | --- | --- | --- | --- | --- | --- | --- | --- | | Other, not yet mapped | 83 | 80 | 80 | 77 | 77 | 54 | 40 | | Capital Goods | 3 | 3 | 3 | 4 | 3 | 7 | 15 | | FMCG & Consumer | 3 | 3 | 3 | 5 | 6 | 10 | 13 | | Chemicals | 1 | 1 | 1 | 2 | 2 | 5 | 8 | | Power & Utilities | 5 | 3 | 2 | 3 | 2 | 3 | 6 | | Auto & Components | 0 | 2 | 2 | 2 | 3 | 6 | 4 | | IT & Technology | 2 | 2 | 1 | 1 | 2 | 4 | 4 | | Banking & Financial | 0 | 1 | 1 | 0 | 0 | 2 | 4 | | Metals & Mining | 2 | 2 | 4 | 3 | 2 | 3 | 2 | | Pharma & Healthcare | 1 | 1 | 2 | 3 | 2 | 4 | 2 | | Realty & Construction | 0 | 0 | 0 | 0 | 0 | 0 | 2 | | Energy & Oil & Gas | 0 | 1 | 0 | 0 | 0 | 2 | out | Average weight of the equity sleeve that year, equal weighted at the stock level; darker is higher. Now: the list of 11 May 2026. ### Rebalances132 published, latest 11 May 2026 ### Rebalances #### The rebalance record published rebalances132 first in the record14 May 2021 26 a yearEvery 2 weeks latest published11 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 | Date | On the list | In | Out | | --- | --- | --- | --- | | 11 May 2026 | 48 | 0 | −18 | | 8 May 2026 | 66 | +19 | −18 | | 24 Apr 2026 | 65 | +15 | −17 | | 10 Apr 2026 | 67 | +19 | −7 | | 27 Mar 2026 | 55 | +6 | −8 | | 13 Mar 2026 | 57 | +7 | −12 | [Every rebalance with its names](/rebalance/microcap/)[Rebalance history, CSV](/data/rebalances/microcap.csv) #### Sector shifts of 10 points or more 3 such shifts in 132 rebalances. Show the latest six rebalances, what moved 1. 11 May 2026Other, not yet mapped **+11 pts** 2. 24 Apr 2026Other, not yet mapped **−19 pts**, Capital Goods **+11 pts** 3. 10 Apr 2026Other, not yet mapped **−13 pts** Equity sleeve, between two consecutive lists. ### Risk metricsSharpe 1.52, volatility 24.09% ### Risk metrics #### Microcap against the Nifty 50 | Metric | Microcap | Nifty 50 | | --- | --- | --- | | Sharpe ratio | 1.52 | 0.73 | | Sortino ratio | 1.42 | 0.70 | | Calmar ratio | 1.52 | 0.58 | | Volatility, a year | 24.09% | 14.04% | | Max drawdown | −26.43% | −16.92% | | Best week | +9.09% | +6.36% | | Worst week | −10.81% | −6.33% | | Weeks up | 63.22% | 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 horizon5 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%](/strategies/allcap-multi-asset)[One step bolder (High)MidcapCAGR 38.8%, Sharpe 1.49, max drawdown −24.9%](/strategies/midcap) Card figures: Model, back tested. As of 27 Apr 2026. [Take the risk profile](/risk-profile) to find your band. #### Watch the figures explained ### MethodologyEvery 2 weeks ### 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 UniverseNifty Microcap 250 SleevesEquity 100 Holdings50, equal weight RebalanceEvery 2 weeks, 26 a year Max stock price₹5,000 BenchmarkNifty 50 (charts: Nifty 50 TRI CAGR line) Back test from7 May 2021 Metrics windowRolling 5 years PricesNSE BhavCopy, after brokerage, STT, exchange charges and GST Written forInvestors who want growth but read a 25% drawdown as opportunity, not panic #### Why Microcap 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](/technology) #### Learn the mechanics * [Momentum factor](/learn/path-3/module-3-1-momentum-factor-deep-dive) * [How back testing works](/learn/path-2/module-2-4-how-backtesting-works) * [Risk metrics that matter](/learn/path-2/module-2-3-risk-metrics-that-matter) * [Rebalancing](/learn/path-4/module-4-3-rebalancing-strategies) Free Learn modules, no sign up. ### Costs0.2% per rebalance ### 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](/fee-calculator) [Pricing](/pricing) #### A year on the minimum Minimum capital₹2,25,000 Rebalances, year to 11 May 202627 Traded, about9.2 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. ### DocumentsPDF, CSV ### Documents #### Download and print * **Print or save as PDF** * [PDF factsheet by email](https://www.rupeecase.com/strategies/factsheets/microcap) * [Rebalance history, CSV132 rebalances, 14 May 2021 to 11 May 2026.](/data/rebalances/microcap.csv) * [Rebalance history page](/rebalance/microcap/) * [Plain text (Markdown)](/strategies/microcap.md) * [Disclaimers](/disclaimers) 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](/instiv2/media/wt3/invest-practice-live-bar-phone-dark-v3.mp4) 2. [Chapter 2Amount and Use minimum0:13](/instiv2/media/wt3/invest-practice-live-amount-phone-dark-v3.mp4) 3. [Chapter 3Practice0:06](/instiv2/media/wt3/invest-practice-live-practice-phone-dark-v3.mp4) 4. [Chapter 4Live0:14](/instiv2/media/wt3/invest-practice-live-live-phone-dark-v3.mp4) 5. [Chapter 5Your portfolio0:05](/instiv2/media/wt3/invest-practice-live-status-phone-dark-v3.mp4) 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](/strategies/#sxPick) [HighMomentum Midcap Nifty Midcap 150, 20 stocks, every 2 weeks CAGR, model38.75%Max DD−24.9%From₹90K](/strategies/midcap) [Moderately HighMomentum Smallcap Nifty Smallcap 250, 50 stocks, every 2 weeks CAGR, model37.40%Max DD−22.3%From₹2.19L](/strategies/smallcap) [Moderately HighMomentum Midcap Smallcap NSE Universe, 40 stocks, every 2 weeks CAGR, model42.64%Max DD−26.2%From₹80K](/strategies/midcap-smallcap) CAGR and Max DD on the cards: Model, back tested. As of 27 Apr 2026. ### Compare Microcap with * [vsSmallcap](/strategies/compare/smallcap-vs-microcap) * [vsSmallcap](/strategies/compare/microcap-vs-smallcap) Explore next ## Go deeper on this strategy. * [Free module 3.5The Size Factor7 min read](/learn/path-3/module-3-5-size-factor-deep-dive) * [TierGrowth core tier strategies5 strategies grouped by job](/strategies/by-tier/mid-aggressive) * [Blog noteMicrocap: the deeper you goStrategy notes, a short note](/blog/2026-05-12-evening-microcap-deeper-cap-curve/) * [Blog noteThe size myth on our own shelfFactors, a short note](/blog/2026-07-21-morning-size-factor/) * [SectorCapital Goods stocksNSE sector across the 18 index algos](/sectors/capital-goods) * [StockAPOLLO, Apollo Micro SystemsOn 6 of 18 latest lists](/stocks/APOLLO) 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](https://invest.rupeecase.com/signup?strategy=microcap) [Compare with Smallcap](/strategies/compare/smallcap-vs-microcap) 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.