Half the drawdown. The proof.
The engine running the paper account, tested two ways: across the 2021–2026 bull run and through the 2017–2020 stress era (the COVID crash). No-lookahead walk-forward plus a ₹10,00,000 capital simulation against the Nifty 500 Total-Return Index. F+ classic is shown alongside as the locked fallback.
01 — The full period
Five years, one curve
₹10,00,000 through the 2021–2026 simulation — the equity path on top, the drawdown it cost underneath. Backtested results; the durable claim is the return-vs-drawdown edge, not the absolute percentage.
₹10,00,000 → ₹22,99,700 (+129.97%) vs the index's ₹18,21,735 (+82.17%), 2021-06-01 → 2026-05-26, with max drawdowns of 14.05% vs 18.59%. Endpoints and both max drawdowns are verbatim from the frozen engine (commit 6ced078); the monthly path between those anchors is an interpolation of the committed simulation, drawn for shape. Backtested, not a live track record.
Era 1 · 2021–2026
The bull run
Four overlapping walk-forward windows across the up-cycle — Enhanced F+ beat the index in every one.
Walk-forward — beat the index 4 / 4
Every window cleared the Nifty 500 TRI on return, with positive alpha and a Sharpe above 1.0 in three of four windows. Backtested, no-lookahead.
| Window | Enhanced F+ return | Sharpe | Max DD | Trades | Nifty 500 | Alpha | Beat? |
|---|---|---|---|---|---|---|---|
| W1 2021–2023 | +33.97% | 1.02 | 8.02% | 63 | +21.95% | +12.02% | ✓ |
| W2 2022–2024 | +96.83% | 2.24 | 8.98% | 118 | +52.78% | +44.05% | ✓ |
| W3 2023–2025 | +54.05% | 1.14 | 14.48% | 134 | +47.42% | +6.63% | ✓ |
| W4 2024–2026 | +24.67% | 0.24 | 15.00% | 121 | +20.46% | +4.21% | ✓ |
₹10,00,000 simulated — 2021-06-01 → 2026-05-26
Enhanced F+ grew ₹10L to ₹22.99L (+129.97%) versus the index's ₹18.22L (+82.17%) — and did it at lower drawdown (14.05% vs 18.59%). F+ classic, the fallback, effectively matched the index. Backtested simulation, not real money.
| Strategy | ₹10L grew to | Return | Max DD | Sharpe | Trades |
|---|---|---|---|---|---|
| Nifty 500 TRI | ₹18,21,735 | +82.17% | 18.59% | — | — |
| Enhanced F+ ✓ | ₹22,99,700 | +129.97% | 14.05% | 0.95 | — |
| F+ classic (fallback) | ₹18,15,996 | +81.60% | 18.95% | 0.51 | 275 |
Era 2 · 2017–2020
The stress test
The era that includes the COVID crash — where the risk machinery earned its keep.
Walk-forward — 4 overlapping windows, beat the index 2 / 4
The market itself was brutal here: every window includes or borders the COVID crash. Enhanced F+ trailed the index in the two calm early windows but protected capital through the crash — beating the index in the COVID window (W3) and the recovery (W4), with far lower drawdown throughout.
| Window | Enhanced F+ return | Sharpe | Max DD | Trades | Nifty 500 | Alpha | Beat? |
|---|---|---|---|---|---|---|---|
| W1 Jan'17–Dec'18 | +17.50% | 0.18 | 14.60% | 110 | +29.79% | -12.29% | ✗ |
| W2 Jun'17–Jun'19 | +6.63% | -0.30 | 15.99% | 101 | +20.02% | -13.39% | ✗ |
| W3 Jan'18–Jun'20 ⚠ COVID | -7.40% | -1.01 | 13.88% | 146 | -7.46% | +0.06% | ✓ |
| W4 Jun'18–Dec'20 | +46.89% | 0.80 | 16.90% | 138 | +25.00% | +21.89% | ✓ |
Drawdown — half the pain
Full 2017–2020 stress era. Lower is better. Enhanced F+ took 15.08% max drawdown vs F+ classic's 23.27% and the Nifty 500's 38.52%.
02 — The crash, scrubbed
Watch the de-risk happen
Graded cash (100 / 50 / 25%) cut exposure live, before the bottom — no hindsight. Enhanced F+ fell only −13.88% peak-to-trough through the COVID window versus the market's ~−38%.
Feb–Jun 2020 · indexed to the pre-crash peak
The COVID de-risk, step by step
Market fell
0%
Enhanced F+ fell
0%
Scroll to scrub. Exposure steps (100 / 50 / 25 / 50%) and both troughs (−13.88% vs the market's ~−38%) are verbatim from the frozen engine (commit 6ced078); the weekly line shape between those anchors is illustrative. Backtested, not a live track record.
₹10,00,000 simulated — 2017-01-16 → 2020-12-31
Through the stress era Enhanced F+ ended ahead of both the index and F+ classic, while taking the least drawdown of the three. Backtested simulation, not real money.
| Strategy | ₹10L grew to | Return | Max DD | Sharpe | Trades |
|---|---|---|---|---|---|
| Nifty 500 TRI | ₹16,24,459 | +62.45% | 38.52% | — | — |
| Enhanced F+ ✓ | ₹18,22,900 | +82.29% | 15.08% | 0.77 | — |
| F+ classic (fallback) | ₹14,09,895 | +40.99% | 23.27% | 0.22 | 316 |
Methodology & honest caveats
What this backtest does and does not claim. Read this before trusting any number above.
Backtested, not live
Every figure on this page is a simulation over historical prices. It is NOT a live track record. The forward paper account is the only out-of-sample evidence — see the Portfolio and Brain pages.
No lookahead
Every decision at date D uses only data dated ≤ D. The regime cut exposure during/before the COVID drop, never after — no hindsight leakage.
Survivorship
The universe is today's Nifty 500 constituents, backfilled. It biases every config and the benchmark the same way, but absolute returns read optimistic. The return-vs-drawdown edge is the durable signal, not the headline percentage.
Cash yield is partly bull-amplified
Enhanced F+ credits the cash sleeve at 6.5% (real T-bill ballpark) vs classic's 0%. In a rising market that interest is redeployed at each rebalance, so part of the uplift is bull-amplified — it would contribute less in a flat or falling tape.
Vol-adjusted momentum
Enhanced F+ ranks on vol-adjusted momentum + quality + low-volatility. Pre-2024 fundamentals / news / sentiment were offline for the historical window, so the composite is price-and-quality driven there.
Frozen & guarded
Engine pinned at commit 6ced078; F+ classic (commit 6417a74) kept as the locked fallback. No mutual-fund comparison is made — there is no NAV data here, so the only benchmark is the Nifty 500 TRI.
For personal research and educational purposes only. Not investment advice. Paper-traded / simulated results, not real money. Past simulated performance does not predict future results. The operator has not paid for advice and Claude is not registered as an investment adviser or research analyst with SEBI.