The Factor LabDeveloped by Neel
All indices
Momentum + QualityParent: Nifty MidSmallcap 400

Nifty MidSmallcap400 Momentum Quality 100

Total Return Index · Available history 01-04-2005 to 28-10-2026 · 5,351 observations

Compare with Nifty MidSmallcap 400Backtest Hero?

Launch date: 08-02-2024. 87.4% of this index's trading days are NSE's pre-launch backtest (marked BT, shaded on the charts). Backtests can benefit from hindsight; post-launch index returns are still not fund returns. Source: Curated catalog launch_date (not independently reverified).

BT = Backtested history by NSE— = not enough history

Nifty MidSmallcap400 Momentum Quality 100 and Nifty MidSmallcap 400 on the same 5,351 observed dates, 01-04-2005 – 28-10-2026.

CAGR
21.2%BT
Nifty MidSmallcap 400: 16.1%
Annualized volatility
20.1%BT
Nifty MidSmallcap 400: 20.8%
Max drawdown
-68.0%BT
Nifty MidSmallcap 400: -73.8%
Sharpe
0.83BT
Nifty MidSmallcap 400: 0.60
Sortino
1.12BT
Nifty MidSmallcap 400: 0.80
Median rolling 5Y CAGR
21.4%BT
Nifty MidSmallcap 400: 16.0%

Drawdown and recovery

Full history of Nifty MidSmallcap400 Momentum Quality 100, 01-04-2005 – 28-10-2026. A drawdown is the fall from the highest close before it.

BT = Backtested history by NSE— = not enough history

Current drawdown
-10.1%
High on 15-07-2024
Gain needed to recover
11.3%
From the latest close back to the high
Time below high
2y 3m
Since the last high
Worst decline
-68.0%
04-01-2008 to 09-03-2009; recovered 06-09-2010 (2y 8m after the high)BT
Longest time below a high
2y 10m
23-01-2018 to 09-11-2020BT
Time spent below a high
87.3%
6 declines of 20% or more

Outcomes by holding period

Every rolling window in the full history, ending on each trading day. Windows overlap, so this describes the past rather than predicting the future.

BT = Backtested history by NSE— = not enough history

Held forLost moneyMedian CAGRWorst CAGRBest CAGRWindows
1 year22.8%18.8%-61.9%153.8%5,094
3 years2.7%19.8%-9.9%50.1%4,580
5 years0.0%21.4%1.5%35.6%4,106
7 years0.0%20.3%11.7%33.6%3,606
10 years0.0%20.3%12.9%28.5%2,862

Lost money: share of windows with a negative annualized return.

Versus Nifty MidSmallcap 400

On the shared dates 01-04-2005 – 28-10-2026, using month-end returns for capture.

BT = Backtested history by NSE— = not enough history

Upside capture
98.2%
Average of 162 months Nifty MidSmallcap 400 rose
Downside capture
82.4%
Average of 96 months Nifty MidSmallcap 400 fell; lower is better
Months ahead
59.7%
Beat Nifty MidSmallcap 400 in this share of 258 months
Longest stretch behind
6y 6m
Relative wealth below its high, 11-05-2020 to still behind

Now 12.5% behind its best point relative to Nifty MidSmallcap 400, for 6y 6m. Relative wealth was below an earlier peak on 93.1% of shared trading days.

Backtest Hero? · vs its own history

08-02-2024 – 28-10-2026 · 2 years 8 months 20 days. Compared with 3,993 equal-length periods from the pre-launch backtest. Difference in CAGR versus Nifty MidSmallcap 400: -1.3 pp.
Open full analysis
CAGR
4.3%
Historical percentile 10.4median 19.7%
Volatility
19.9%
Historical percentile 58.0median 16.6%
Max drawdown
-25.6%
Historical percentile 54.1median -26.8%
Sharpe
0.07
Historical percentile 9.8median 0.87

Growth of 100

On 5,351 shared dates from 01-04-2005: 100 became 6,365 vs 2,506 in Nifty MidSmallcap 400. Shaded: backtested history before launch.

Drawdown

Percentage decline from the previous peak.

Rolling 3Y CAGR

Calendar-anniversary rolling annualized return. Shared input history starts 01-04-2005; the first plotted rolling-return observation is 04-04-2008, after a complete 3Y-year window.

Rolling 1-year volatility

Up to 252 daily observations, minimum 126, annualized. First plotted observation: 30-09-2005.

Calendar-year returns

Nifty MidSmallcap400 Momentum Quality 100 vs Nifty MidSmallcap 400; the difference is in percentage points (pp). Incomplete historical years are labeled (partial); the ongoing year is labeled (YTD). Hover a year for its actual dates.
YearNifty MidSmallcap400 Momentum Quality 100Nifty MidSmallcap 400Difference
2026 (YTD)+3.2%-2.5%
+5.7 pp
2025-6.8%+1.8%
-8.6 pp
2024+26.3%+25.5%
+0.8 pp
2023+49.0%+46.2%
+2.8 pp
2022-5.4%+1.9%
-7.2 pp
2021+57.8%+52.6%
+5.1 pp
2020+30.6%+25.9%
+4.7 pp
2019+3.2%-2.0%
+5.2 pp
2018-14.9%-17.3%
+2.4 pp
2017+67.4%+56.6%
+10.8 pp
2016+3.7%+4.8%
-1.2 pp
2015+9.4%+10.3%
-0.9 pp
2014+78.8%+65.5%
+13.3 pp
2013+16.2%-2.9%
+19.2 pp
2012+48.7%+44.6%
+4.2 pp
2011-24.1%-32.4%
+8.3 pp
2010+28.2%+19.3%
+8.9 pp
2009+105.6%+115.0%
-9.3 pp
2008-60.4%-66.2%
+5.7 pp
2007+78.7%+84.3%
-5.6 pp
2006+53.4%+29.8%
+23.6 pp
2005 (partial)+61.5%+47.2%
+14.2 pp