Midcap
20 stocks. Nifty Midcap 150 universe. Fortnightly rotation. CAGR 41.30%. Sharpe 1.49.
0.2% on traded value · No AUM fee · No lock-in · Minimum ₹93842 · Capital stays in your own broker
How It Works
- Step 1 | Universe Start from Nifty Midcap 150 filtered to stocks priced under ₹5000.
- Step 2 | Rank Score every stock in the universe by a momentum composite (price trend over multiple lookbacks, risk-adjusted). The top names by score become the candidate list.
- Step 3 | Select Hold the top 20 names by score. Equal-weight across the book so no single name dominates.
- Step 4 | Rebalance Every 2 weeks the model re-runs end-to-end. Names that fall out of the top 20 are sold; new entrants are bought. You see the full holdings list at every rebalance.
Who This Is For
Strategy Configuration
Midcap vs Nifty 50
Both indexed to 100 on inception. Hover for date-by-date NAV. Range chips to zoom; expand button for full window.
NAV indexed to 100 on inception (Jan 2021 or later). Backtested returns include realistic transaction costs. Past performance is not indicative of future results. Source: NSE BhavCopy.
Performance Metrics
| Metric | Midcap | Nifty 50 |
|---|---|---|
| CAGR | 41.30% | 9.80% |
| Cumulative Return | 463.71% | 59.62% |
| Sharpe Ratio | 1.49 | 0.73 |
| Max Drawdown | -24.87% | -16.92% |
| Volatility | 25.44% | 14.04% |
Cost Decomposition
What this would have returned
Your amount run through Midcap's backtested monthly returns (2021-05-07 to now, after costs). A backtest, not a promise.
Over 61 months of backtested monthly returns, after estimated costs. Past performance is not indicative of future results. See the factsheet.
Worst 5 Drawdowns
| Started | Recovered | Max DD | Duration (days) |
|---|---|---|---|
| 2024-12-20 | 2025-11-07 | -24.87% | 322 |
| 2022-04-15 | 2022-09-02 | -18.48% | 140 |
| 2023-01-06 | 2023-06-02 | -15.52% | 147 |
| 2021-10-22 | 2021-12-24 | -12.16% | 63 |
| 2022-01-21 | 2022-03-25 | -11.35% | 63 |
Yearly Returns
Sector allocation
7 sectors represented in the equity sleeve. Largest concentration: Diversified at 25.5%. Equal-weighted at the stock level, so sector weights drift with which momentum names rank highest.
132 rebalances . 9 sectors touched . 7 live today.
- 2026-05-08 Diversified +12pp added HUDCO, COCHINSHIP, RADICO, TORNTPOWER, ATGL, IDEA . removed WAAREEENER, INDIANB, LUPIN, GLENMARK, APLAPOLLO, ASHOKLEY
- 2026-04-24 Diversified -15pp, Power & Utilities +12pp added BHEL, SUZLON, NIACL, NTPCGREEN, OBEROIRLTY, NAM-INDIA . removed CUMMINSIND, UNIONBANK, ASTRAL, AJANTPHARM, BANKINDIA, IPCALAB
- 2026-04-10 Diversified -19pp added LLOYDSME, MCX, WAAREEENER, LAURUSLABS, NLCINDIA, BSE . removed M&MFIN, IDEA, LTF, TORNTPOWER
- 2026-03-27 Diversified -12pp added AUROPHARMA, PREMIERENE, IPCALAB, THERMAX . removed MFSL, IDBI, INDUSTOWER, SUPREMEIND
- 2025-10-24 Diversified -15pp added NAM-INDIA, NATIONALUM, AUBANK, WAAREEENER, BSE, TATACOMM, MOTILALOFS . removed GLENMARK, SWIGGY, DALBHARAT
- 2025-09-26 Diversified -10pp added IDEA, NLCINDIA, ASHOKLEY, INDIANB, TATAINVEST . removed MOTILALOFS, NAM-INDIA, KEI
- 2024-06-21 Metals & Mining -12pp, Diversified +10pp added ENDURANCE, COROMANDEL, TORNTPOWER . removed OIL, NATIONALUM, SAIL, NMDC, IRB
- 2023-10-13 Diversified +11pp added GODREJIND . removed GMRAIRPORT, NMDC, BHARATFORG, LUPIN, NLCINDIA
- 2022-09-16 Diversified -15pp, Banking & Financial +11pp added TATAINVEST, PATANJALI, KEI, BHEL, FEDERALBNK, INDIANB . removed IRB, FLUOROCHEM, JKCEMENT, APLAPOLLO, SBICARD, COROMANDEL
- 2021-10-29 Diversified -15pp, Banking & Financial +12pp added UNIONBANK, INDIANB, BSE, NATIONALUM . removed KPITTECH, POLYCAB
Current Holdings
20 positions as of 2026-05-11 rebalance. Allocation percentages reflect equal-weighted sleeve at rebalance day; current values drift with price.
Why This Strategy
This card sits between Alpha 5 (5 stocks, 56.60% CAGR) and Mid-Smallcap (40 stocks, 49.92%). The 20-stock structure on the curated Nifty Midcap 150 universe is the lineup's pure mid-cap momentum expression. Rebalance every 2 weeks. Equal-weighted at roughly 5 percent each.
The 5-year backtest produced a cumulative return of 463.71% against the Nifty 50's 59.62%. CAGR 41.30%. Sharpe 1.49.
Sharpe is lower than the 50-stock Allcap cards (1.78 and 1.81) because the Midcap 150 universe is narrower and you cannot diversify away mid-cap regime risk with just 20 names. Volatility 25.44% is higher than Allcap's 23.76% for the same reason.
This is not the broad-market choice. Allcap is. This is the mid-cap-only conviction trade. For an investor who specifically wants mid-cap exposure (the 100 to 250 ranked names by market cap, India's mid-cap capex story), 20 stocks rotated every 2 weeks is the cleanest expression on the lineup.
CAGR 41.30% versus Nifty's 9.80%. Sharpe 1.49. Max drawdown 24.87%. Volatility 25.44%. Min 93842.
Key Takeaways
- Focused mid-cap momentum from Nifty Midcap 150
- 20 stocks equal-weighted rebalanced fortnightly
- CAGR 41.30% with Sharpe 1.49
- Max drawdown 24.87%
Frequently Asked Questions
What is the Midcap strategy?
What is the minimum investment for Midcap?
How does Midcap compare to the Nifty 50?
What is the worst drawdown Midcap has experienced?
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Documents
Last rebalance | 2026-05-11
Full history →vs 2026-05-08 cycle · 0 added · 6 removed · 20 retained
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