The maths behind the eyebrows.
A return is only useful when you know what it measures. Here is what is behind the scorecard, and what it does not claim.
What the chart shows
The scorecard is a historical backtest of the IndexBeater R4.4 positional equity strategy, adapted for IndexBeater. It chains six recorded research windows from July 2017 to July 2026. It does not show actual investor account returns or a currently connected brokerage account.
Each window starts with the same notional capital and its daily path is compounded into the next window. The first displayed observation is rebased to ₹1 lakh. The underlying snapshot ends on 6 July 2026.
The benchmark, precisely
The comparison is a reconstructed equal-weight basket of NIFTY 500 stocks. The reference calculation chains the mean daily close-to-close ratio of stocks present on consecutive days. This is not the official NIFTY 500 price index or total-return index.
Both series use the same dates and are rebased to the same initial amount. Missing benchmark observations are carried forward.
Returns and periods
Total return is the change between the first and last observation in the selected period. Annualised return uses the actual calendar duration. One-year and three-year views use trailing calendar years, ending at the last observation in the snapshot.
The important limitations
The displayed results are before brokerage and taxes. Real fills, slippage, position sizing, liquidity, and execution delays can change an investor’s outcome.
The source research documents overlap between strategy selection and this history: the complete curve is not an untouched out-of-sample test. It also uses a universe affected by present-day NIFTY 500 membership, which introduces survivorship bias. These limitations matter when interpreting historical returns.
Historical performance is not a prediction or a guarantee. Research results should be read alongside the assumptions, losing periods, and drawdowns.
Why equities, and no options calls?
The reference research examined positional equities alongside intraday, scalping, and options approaches. In the options approaches tested, spreads, transaction costs, and tail losses weakened or removed the apparent edge. The product therefore focuses on researched positional equity setups.
This finding describes the strategies, costs, and periods tested. It does not prove that every options strategy loses money or that equities always outperform options.
The separate 87.7% callout comes from SEBI’s August 2026 study of individual traders. It reports the share of loss-making individual options traders in FY26. That statistic is context about trader outcomes, not evidence that IndexBeater will be profitable.
Examples and data freshness
The signal card uses a fictional stock and illustrative prices to explain the format. It is not a stock recommendation.
The moving strip shows the tracked portfolio’s open positions, each with its last observed price and the time it was observed. These are not live quotes or recommendations. The table below it lists every recently closed trade, newest first, with entry and exit fill prices and the percentage result. Losses are shown like gains. Where the performance chart continues past the backtest’s end date, it uses the tracked portfolio’s daily record: its value and the equal-weight basket at each trading day’s close, saved that day and not revised afterwards. Each line carries on from the backtest’s last value, and the chart marks where the record begins. The tracked portfolio is a research portfolio, not a real-money account. A part with nothing to show is absent. The historical snapshot retains its end date in the chart and the performance strip.