What would switching from your fund have changed?

Every other calculator on this site asks you to assume a return. This one does not: it uses MindForge's published backtest on one side and a real fund's actual return over the same months on the other, measured from AMFI's published NAVs, each after its own tax — and it subtracts the MindForge subscription in rupees, every month, because a flat fee does not scale the way a percentage does.

Your numbers

Pick a strategy, then change anything; the result updates as you type.

Moving money out of a fund you hold?

If the starting capital would come out of a mutual fund, switching costs something staying does not: tax on the gain you realise, and any exit load. Both come off the MindForge side.

Where the starting capital comes from

Of the starting capital, how much is gainwhat it is worth now, less what you put in

Exit loadoften 1% inside the first year — check your fund

Result

One side of this comparison actually happened. The other is a simulation.

The fund column is a real Direct Plan's actual return over the backtest's own months, from AMFI's NAVs. The MindForge column is a backtest, with every known limitation published in full — including where it flatters us. The two paid strategies also trade in their own broker-verified Zerodha accounts, which is the only part of our record we do not write ourselves.

How a month works — about ten minutes on the 1st

See how we backtest

The figures this uses

Nothing here is typed by hand. Every number below is written into this page from the same simulation output that produces the figures on the strategy pages, on every publish — so if a strategy's backtest moves, this calculator moves with it. The funds are measured from AMFI's published NAVs over the same months, in the same step.

Strategy	Backtest CAGR, after 20% STCG	Flat fee	Works from	Best comparable fund, same months	Its CAGR, after 12.5% LTCG
SmallMicro 500Oct 2021 → Oct 2026 · 61 months	44.3%	₹1,499/mo	₹65,000	Invesco India Smallcap	16.8%
LargeMidcap 250Oct 2021 → Oct 2026 · 61 months	18.6%	₹999/mo	₹7,15,000	Motilal Oswal Large & Midcap	15.8%
MultiAssetMar 2023 → Oct 2026 · 44 months	11.6%	Free	₹10,000	Quant Multi Asset	19.5%

Fund returns are each fund's actual Direct Plan return over the same months as the backtest, measured from AMFI's published NAVs and already net of their expense ratio; they move with the window. "Works from" is the smallest capital at which every name in this month's book can be bought in one whole share. Shown for comparison only — not a recommendation of any fund, and not investment advice. MultiAsset is behind its comparable fund on return over this window, and that is published here rather than left out — and its figure applies 20% to every gain, while its international, gold, silver and bond ETFs are taxed at your slab, so at a 30% slab it is lower still. It is built for the shallowest fall of the three, and it is free.

How this is calculated

Both sides start from the same capital, receive the same monthly addition, and run for the same number of years. From there each compounds at its own net rate, month by month:

balance_next = (balance + monthly addition) × (1 + r)^1/12 − fee

where r is that side's annual rate after its own tax, and fee is the MindForge subscription in rupees — zero on the fund side, and zero for MultiAsset. If your starting capital would come out of a fund you already hold, the tax and exit load of selling it come off the MindForge side only: staying where you are costs the fund side nothing.

Why the fee is subtracted in rupees

A percentage-of-assets fee scales with your corpus, so it can be modelled as a haircut to the return. A flat subscription cannot: ₹1,499 a month is 12% a year of a ₹1,50,000 portfolio and 1.2% of a ₹15,00,000 one. Folding it into a rate would flatter us at small sizes and understate us at large ones, so it is taken out as money instead. That is also why the answer can favour the fund at small capital and MindForge at large — and the size where that flips is worth knowing before you subscribe.

What it deliberately does not do

It does not forecast. It stops where each backtest stops — five years for the two equity books, three for MultiAsset — and compounds the two historical figures at a constant rate inside that window. Real returns arrive in an uneven sequence, and with money going in monthly the sequence changes the answer.
It does not model your slab. MindForge's side assumes 20% on every profitable month with no set-off for losing ones, which is the harshest reading of the rules; the fund side assumes 12.5% once at exit. MultiAsset's international, gold, silver and bond ETFs are taxed at your slab rate instead, so at a 30% slab its real figure is lower than the one used here. Your own position will differ.
It does not add brokerage or slippage on your orders. The backtest charges a trading cost inside itself; what your broker charges you is between you and your broker.

Questions

Is the MindForge figure a real return?

No. It is a backtest — a simulation over historical data, not live trading, and it carries the survivorship and other limitations set out in full on the Disclosures page. The fund figure is the actual return of a real fund's Direct Plan over the same months, measured from AMFI's published NAVs. That asymmetry is the most important thing on this page: one side actually happened and the other did not.

Does this subtract the subscription?

Yes, in rupees, every month, from the MindForge side. That is the only honest way to model a flat fee: unlike a percentage of assets it does not scale, so it is a heavy drag on a small corpus and a light one on a large corpus, and only a rupee subtraction shows that. The fund side is compounded at a return that is already net of its expense ratio.

How is tax handled on each side?

Each side pays its own. MindForge rebalances monthly, so no position is held twelve months and every gain is short-term at 20% — already subtracted from the CAGR used here, at the harshest reading, with no set-off for losing months. A fund you buy and hold pays 12.5% long-term once at exit on gains above ₹1,25,000, which is subtracted from the fund CAGR used here. MultiAsset is the exception on our side: its international, gold, silver and bond ETFs are taxed at your income-tax slab rather than 20%, so for a 30%-slab investor its real figure is lower than the one used here.

What if the money I'd start with is in a fund today?

Then switching has a cost that staying does not: tax on the gain you realise when you redeem, and any exit load. Held for more than twelve months, an equity fund's gain above ₹1,25,000 in a year is taxed at 12.5%; held for twelve months or less, all of it is taxed at 20%. Exit loads vary by fund and are often 1% within the first year. Open “Moving money out of a fund you hold?” above to take them off the MindForge side. You can also keep the fund and send only your new monthly savings: set the starting capital to zero. This is general information, not tax advice.

Why does MultiAsset lose to its comparable fund?

Because on return over this window it does, and hiding that would make everything else here worth less. MultiAsset is built for the shallowest drawdown of the three, not the highest number, and it is free. Its backtest also charges no trading cost at all, which makes its figure the most optimistic of the three on cost rather than the least.

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