Momentum, NSE Universe
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.
40 stocks, fortnightly rotation. Momentum on the NSE Universe under 2000.
Moderately High risk band
Runs in your own 5paisa, Zebu or Arrow demat. The shares stay in your name.
01At a glance
Model, back tested, as of 27 Apr 2026: 42.64% a year since May 2021 after charges, with a deepest fall of −26.17%, against 9.80% for the Nifty 50 TRI line. Not a promise of future returns.
₹100 in May 2021 became ₹737 by Jul 2026 (Nifty 50 TRI line ₹162). Model, back tested. As of 27 Apr 2026. After charges, log scale.
18% of the equity names on the latest model list (11 May 2026): 7 of 40 names at equal weight. Chemicals is next at 10%. Model portfolio, not a recommendation.
02Three steps
Link your broker and approve each rebalance. Stocks stay in your own demat; RupeeCase never holds your money.
Invest in Midcap Smallcap
Screens from the RupeeCase app. Model, back tested figures as of 27 Apr 2026; portfolio screens are a sample for illustration.
03Factsheet
Model, back tested, after charges; each block names its date.
Model, back tested, after charges, 2021 to May 2026.
Model, back tested monthly returns after charges, May 2021 to May 2026 (61 months).
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.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | no data | no data | no data | no data | 3.1 | 16.7 | 8.7 | −4.5 | 7.0 | 0.9 | −0.3 | 16.8 | +56.9% |
| 2022 | 2.7 | −12.0 | 5.8 | 4.5 | −7.7 | 1.4 | 10.3 | 7.1 | −0.4 | 3.3 | 6.4 | 4.9 | +26.9% |
| 2023 | −8.2 | −6.6 | 2.4 | 9.2 | 6.2 | 11.7 | 16.9 | 13.4 | 2.0 | 4.6 | 12.5 | 9.7 | +98.3% |
| 2024 | 11.3 | 2.2 | −3.8 | 12.0 | 7.3 | 12.0 | 3.5 | 7.9 | 7.2 | −5.8 | 8.5 | 3.2 | +86.0% |
| 2025 | −10.9 | −14.1 | 5.2 | −0.1 | 10.9 | 1.9 | −2.6 | 2.8 | −2.7 | −1.6 | −2.1 | 7.1 | −8.7% |
| 2026 | −1.3 | 5.7 | −12.1 | 17.4 | 5.0 | no data | no data | no data | no data | no data | no data | no data | +13.0% |
Model, back tested, after charges; one calendar month per cell, in percent.
Model, back tested, month end values, May 2021 to Jul 2026.
Equal weight, 2.5% each.
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.
11 sectors in the equity sleeve; 27.5% not yet in the sector map. Wide sector spread across power/energy, metals, capital markets, pharma/health, telecom, cap goods, NBFC, and micro/sme segments.
131 rebalances, 14 sectors touched, 13 held now.
| Sector | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Now |
|---|---|---|---|---|---|---|---|
| Other, not yet mapped | 71 | 71 | 73 | 71 | 73 | 40 | 19 |
| Capital Goods | 4 | 5 | 3 | 5 | 3 | 8 | 16 |
| Metals & Mining | 4 | 4 | 5 | 5 | 4 | 12 | 12 |
| Power & Utilities | 7 | 6 | 5 | 5 | 3 | 6 | 12 |
| FMCG & Consumer | 4 | 3 | 1 | 4 | 3 | 5 | 9 |
| Chemicals | 0 | 2 | 2 | 2 | 3 | 3 | 7 |
| IT & Technology | 4 | 1 | 2 | 1 | 2 | 5 | 7 |
| Banking & Financial | 3 | 3 | 6 | 3 | 3 | 6 | 4 |
| Auto & Components | 1 | 1 | 2 | 0 | 1 | 6 | 4 |
| Pharma & Healthcare | 0 | 0 | 2 | 2 | 2 | 3 | 4 |
| Realty & Construction | 0 | 1 | 0 | 0 | 1 | 1 | 4 |
| Energy & Oil & Gas | 0 | 3 | 0 | 1 | 0 | 3 | 2 |
| Diversified | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Textiles | 0 | 0 | 0 | 0 | 1 | 1 | out |
Average weight of the equity sleeve that year, equal weighted at the stock level; darker is higher. Now: the list of 8 May 2026.
A fixed calendar; you approve each rebalance before your broker places the orders.
Against the list of 24 Apr 2026: 17 in, 24 out, 40 held, 57 on the list.
The 40 held names are in Holdings.
Model, back tested record. In plus held is the list size, which can differ from the 40 stock target. Not recommendations.
| Date | On the list | In | Out |
|---|---|---|---|
| 8 May 2026 | 57 | +17 | −24 |
| 24 Apr 2026 | 64 | +23 | −14 |
| 10 Apr 2026 | 55 | +14 | −4 |
| 27 Mar 2026 | 45 | +4 | −13 |
| 13 Mar 2026 | 54 | +5 | −6 |
| 27 Feb 2026 | 55 | +13 | −12 |
4 such shifts in 131 rebalances.
Equity sleeve, between two consecutive lists.
| Metric | Midcap Smallcap | Nifty 50 |
|---|---|---|
| Sharpe ratio | 1.63 | 0.73 |
| Sortino ratio | 1.48 | 0.70 |
| Calmar ratio | 1.91 | 0.58 |
| Volatility, a year | 27.02% | 14.04% |
| Max drawdown | −26.17% | −16.92% |
| Best week | +9.60% | +6.36% |
| Worst week | −13.44% | −6.33% |
| Weeks up | 65.13% | 57.47% |
| Average up week | +2.98% | +1.49% |
| Average down week | −3.13% | −1.57% |
Model, back tested, after charges. Weekly, rolling 5 years to 27 Apr 2026; Nifty 50 over the same window.
Moderately High, Low to Very High
Card figures: Model, back tested. As of 27 Apr 2026. Take the risk profile to find your band.
Start from the NSE Universe, filtered to stocks priced under ₹2,000.
Score every stock by a risk adjusted momentum composite over several look backs.
Hold the top 40 names by score, equal weighted so no single name dominates.
Every 2 weeks the model reruns: names out of the top 40 are sold, new entrants bought, and the full list is published.
The design leans on breadth and hit frequency. Forty names spread single-stock risk thin, and the fortnightly screen keeps the portfolio rotating into whatever the mid and small-cap tape currently rewards. Wins do not need to be huge when they come often enough. Frequency does the compounding work.
The regime risk is real. Mid and small caps correct as a segment, and when they do, this card goes down with them and stays down until the segment turns. Drawdowns here are measured in months, not weeks. That is the price of running the segment with no debt or gold cushion.
What you get for sitting through that is the full mid and small-cap engine when the regime is on. The strong stretches on this card have historically been very strong, and the recoveries come from the same breadth that spreads the risk.
The card buys only stocks priced under 2000, the practical filter that maps the NSE Universe down to actively-tradeable mid and small-cap names. It rebalances every 2 weeks regardless of regime. It holds 40 names equal-weight. No fixed-income buffer. No gold sleeve. No defensive overlay.
Each rebalance publishes the full list, and the roster typically spans power and renewables, capital goods, metals, pharma, capital markets, and a long tail of smaller names. The current holdings and the next rebalance date sit alongside this card and update on schedule.
This is not a starter card. If you have not lived through a small-cap correction, start with Nifty 50 Equal Weight or a multi-asset card and graduate. This is also not a tax-friendly product if traded in a non-registered account.
The numbers beside this card do the talking on performance. The structure they measure does not change.
A description, not a recommendation. Decide your own allocation, or ask a SEBI registered investment adviser.
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.
Free Learn modules, no sign up.
0.2%of traded value, charged only when a rebalance trades
No subscription, AUM or performance fee; broker charges are separate. Fee calculator Pricing
Estimate from the model rebalance record at 0.2% of traded value; weight resets and broker charges excluded.
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.
Investing: Practice first, then Live
5 chapters, 2:36, with voice and music
Sign up, free
A free account opens the terminal. Nothing is charged until a rebalance trades.
04Questions
40 stocks, fortnightly rotation. Pure mid and small-cap momentum. It selects the top 40 momentum names from NSE Universe (max 2000) and rebalances every 2 weeks.
About ₹80,000 (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.
Midcap Smallcap shows a model CAGR of 42.64% against 9.80% for the Nifty 50 TRI CAGR line (Jan 2021 to Jul 2026), with a Sharpe ratio of 1.63. Model, back tested. As of 27 Apr 2026. Past performance does not guarantee future returns.
26.17% peak to trough in the model record. The deepest period ran 497 days, from 20 Dec 2024 to 1 May 2026. Model, back tested. As of 27 Apr 2026. Drawdowns of similar size can happen again, so size the position for it.
For the 18 retail strategies, 0.2% of traded value per rebalance. No subscription, no AUM fee, no performance fee. 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.
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.
Explore next
Related reading: the topic Systematic investing and the guide Picking stocks by rules.
Community
Scan the code, fillFill one short form, and join my WhatsApp group. Slides, sources, factsheets and the rebalance logs live there, and members join a daily Google Meet with me.
New to RupeeCase? Getting started See the terminal
05Same family
HighMomentum
Midcap
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CAGR, model38.75%Max DD−24.9%From₹90K
Moderately HighMomentum
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CAGR and Max DD on the cards: Model, back tested. As of 27 Apr 2026.
Model figures are back tested, not actual client returns. Each date is when that source was last checked or published, not today.
Ready when you are
42.64% CAGR, model, back tested. About ₹80K to start. Every 2 weeks, you approve each one.
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.