Tools
1/N, with global
Equal sixths in the Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, gold, the 5-year G-sec and the S&P 500 in rupees (through LRS), put back to equal weights at every month-end. It holds 17% Nifty 100, 17% Midcap 150, 17% Smallcap 250, 17% gold, 17% G-secs, 17% S&P 500 since Apr 2005. From May 2005 it returned 13.6% a year after tax, against 13.0% for its benchmark; its worst fall was −43%.
What it holds now
Target since Apr 2005: 17% Nifty 100, 17% Midcap 150, 17% Smallcap 250, 17% gold, 17% G-secs, 17% S&P 500.
Its record
Growth of one rupee after costs, before tax, on a log scale, beside its benchmark: Nifty 500, bought and held. The benchmark holds the assets the rule chooses from but never switches, so the gap is what the rule's timing added or cost. The marks show when the rule was published and when it entered this library; only the stretch after the second mark is free of hindsight. Deciding on a different day of the month would have changed its return before tax from 14.3% to 14.5% a year.
1/N, with global: growth of one rupee
How to read it. Log scale, so equal slopes are equal returns.
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1/N, with global: fall from its previous peak
How to read it. How far each was below its own previous high, weekly: the model as the line, its benchmark as the grey area, so wherever the line sits above the grey the model was falling less. The model's worst fall was −43%, against −64% for its benchmark, on daily closes; the weekly line can look a little shallower.
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May 2005 to Oct 2026. Percentages except the Sharpe ratio, turnover and tax cost. Deflated Sharpe ratio against the benchmark: 0.00 (0.95 is the usual bar), counting every rule tried. With the S&P 500's dividends included (iShares IVV's total return), it would have returned 13.9% a year after tax. With remittance and forex costs of 0.25% each way instead of 0.60%, 13.7%.
| This model | Benchmark | |
|---|---|---|
| Return a year, before tax | 14.5 | 13.4 |
| Return a year, after tax | 13.6 | 13.0 |
| Volatility | 13.2 | 21.8 |
| Worst fall | −43.0 | −64.1 |
| Sharpe ratio | 0.6 | – |
| Average share in equity | 66.7 | – |
| Turnover a year | 0.2 | – |
| Tax cost, points a year | 0.8 | – |
The live log starts on the entry date.
| Period | Dates | Total return | A year | More |
|---|---|---|---|---|
| Before the rule was published | May 2005 to Dec 2009 | 121.5% | 18.6% | |
| Published, before it entered this library | Dec 2009 to Oct 2026 | 720.4% | 13.4% | |
| Since it entered this library (live) | – | – | – |
As an index: Tipsheet 1/N Global
The same rule published as an index: total return, before any fund cost, trading cost or tax, set to 1,000 at the end of 2006 like every Tipsheet index. Its launch date is 14 Oct 2026, when the rule entered this library; the lighter line before it is back-calculated. Tipsheet indices are reference series for research only: not official indices, not investable, and not advice.
Tipsheet 1/N Global, 1,000 at the end of 2006
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- Rule
- Equal sixths in the Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, gold, the 5-year G-sec and the S&P 500 in rupees (through LRS), put back to equal weights at every month-end.
- Rebalancing
- Decided on each month's last session; traded at the next close.
- Basis
- Total return, before any fund cost, trading cost or tax; 1,000 on 31 December 2006.
- Launch
- 14 Oct 2026. Earlier levels are back-calculated with a rule chosen after that history was known; later ones chain returns written once to a hash-chained log and are never restated.
- Download
- Daily levels, CSV · JSON · every index
What it held
The share of the model in each asset at every month-end.
1/N, with global: holdings at each month-end
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The rule
Equal sixths in the Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, gold, the 5-year G-sec and the S&P 500 in rupees (through LRS), put back to equal weights at every month-end.
DeMiguel, Garlappi and Uppal (2009). Midcap 150 and Smallcap 250 are back-calculated before their launch on 2016-04-01. Rule published 2009; entered this library 14 Oct 2026.
Sources
The research this rule comes from. The Indian version substitutes Indian indices for the original assets, as the rule above says.
- Victor DeMiguel, Lorenzo Garlappi and Raman Uppal (2009). Optimal Versus Naive Diversification: How Inefficient is the 1/N Portfolio Strategy?. The Review of Financial Studies.
- Yuliya Plyakha, Raman Uppal and Grigory Vilkov (2012). Why Does an Equal-Weighted Portfolio Outperform Value- and Price-Weighted Portfolios?. SSRN working paper.
Graded with the deflated Sharpe ratio of Bailey and López de Prado (2014), counting every rule tried: the pre-registered specification.
The workings
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.