Eight ETFs, one list a month, and the weights move for you.
The MindForge MultiAsset strategy allocates capital across eight ETFs spanning Indian equities (large-cap, next-50, midcap, smallcap 250), NASDAQ, Bharat Bond, Gold and Silver — all listed on NSE. The model shifts weights every month based on which assets score best on our proprietary multi-factor framework.
When equity markets are turbulent, the model naturally moves weight toward gold or fixed income. When Indian markets are running, equity ETFs attract larger allocations. This is not done by judgement: the model re-scores the eight every month, by the same rules, and the rebalance carries the result.
This book exists to be held through a bad year, not to win a good one. Here are its return per unit of risk and its worst peak-to-trough fall, measured over the same backtest window as everything else on this page, against its own benchmark:
Its index's deepest fall since 2007: -59.9% (Jan 2008 → Oct 2008), and back to its old high in Nov 2010.
And the return itself, which is the comparison this book does not win — published here rather than left out:
Ours pays 20% short-term capital-gains tax every month it books a profit, because it rebalances monthly. The funds and the index are bought once and held, so they pay 12.5% long-term once at exit on gains above ₹1,25,000. Fund figures are Direct Plan returns from AMFI's NAVs over the same months as our backtest (Mar 2023 → Oct 2026), already net of their expense ratio.
Backtested, not live trading. Past performance is not indicative of future returns. The fixed-deposit line is SBI's 5-to-10-year rate as of September 2026 (6.05%), after tax at a 30% slab — what a deposit pays today, not a five-year history.
Multi-factor scoring
A proprietary blend of factor signals ranks all eight assets each cycle. Top scorers get higher allocations; weak scorers get cut.
Risk-adjusted ranking
The model penalises riskier assets proportionally — it prefers calmer assets when conditions deteriorate.
ETF-only universe
All eight instruments are highly liquid NSE-listed ETFs. No illiquidity, no single-stock risk, no derivatives.
Fully transparent
Every month you receive exact allocation weights. The model never changes its rules mid-cycle.
Full performance analysis
Gross of tax These charts and the month-by-month grid show the model’s own curve, before tax — that is what a backtest produces. Every headline figure on this page is stated after 20% short-term capital-gains tax: 17.6% gross becomes 11.6% after tax.
Backtest period (all figures after tax): Mar 2023 → Oct 2026 · 44 months · Benchmark: Nifty 50 Index · 11.6% CAGR vs 7.91% benchmark · Sharpe 0.70 · Max drawdown -13.5%. Simulated performance, not live trading. Past performance is not indicative of future returns. Tax here is 20% on every gain; at a 30% slab the real figure is lower — why →