AEGIS India ETF — Incubator

Parallel track to the AEGIS stock-picker strategy. Applies the same Fiedler λ₂ regime gate + V3.7 entropy signal to 9 Nifty sector ETFs, providing direct large-cap market access. Signals 1-day lagged (LOOKAHEAD CLEAN). No CCAD — India regime determined independently from US markets. Backtest: — Sharpe | — CAGR vs Nifty 50 B&H — max drawdown.

Sharpe Ratio

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5.6y full backtest

CAGR

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Ann. Vol: —

Max Drawdown

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Calmar: —

Nifty 50 B&H Sharpe

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Nifty MaxDD: —

Current Regime

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As of —

Equity Exposure

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Fiedler λ₂: —

Equity Curve — Full Backtest History (2020 – present)

ETF Track (AEGIS V3.7-ETF)

Stock Track (AEGIS V3.7)

Nifty 50 B&H

⚙️ ETF Universe

ETF	Name	Sector
NIFTYBEES.NS	Nifty 50 ETF	Core
JUNIORBEES.NS	Nifty Next 50 ETF	Core Mid
BANKBEES.NS	Nifty Bank ETF	Financials
ITBEES.NS	Nifty IT ETF	Technology
CONSUMBEES.NS	Nifty Consumption ETF	Consumer
PSUBNKBEES.NS	Nifty PSU Bank ETF	PSU
GOLDBEES.NS	Gold ETF (Nippon)	Gold
PHARMABEES.NS	Nifty Pharma ETF	Healthcare
AUTOBEES.NS	Nifty Auto ETF	Auto

🧠 Strategy Design

L1 — Regime Gate
Fiedler λ₂ of India theme correlation graph. 4 regimes: BROADENING / ROTATION / CONCENTRATION / CRISIS. Hysteresis + min-hold classifier prevents excessive switching.

L2 — Sector Tilt
Regime-dependent sector preference. ROTATION → cyclical (Bank, PSU, Auto, Consumer). CONCENTRATION → momentum (IT, Pharma, Next50). CRISIS → Nifty 50 + Gold defensive.

L3 — Sigmoid Exposure
V3.7 entropy-augmented z-score → sigmoid scaling of total equity exposure (5%–95%). 5% per-ETF trailing stop; Nifty 50 fallback on breach.

Cost Model
5 bps per trade. Rebalance: weekly. Sector bucket cap enforced.

ETF Track (AEGIS V3.7-ETF)

Sharpe

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CAGR

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MaxDD

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Calmar

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Stock Track (AEGIS V3.7)

Sharpe

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CAGR

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Small/mid-cap stock-picker track

Nifty 50 B&H

Sharpe

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MaxDD

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Passive benchmark

Full Equity Curve — Cumulative Return (base 1.0)

ETF Track

Stock Track

Nifty 50 B&H

🔍 Audit Notes

Look-ahead bias	CLEAN — signals 1-day lagged
CCAD overlay	NOT USED — India regime independent from US tech
Survivorship bias	CLEAN — ETF universe fixed at inception
Cost model	5 bps per trade, weekly rebalance
Trailing stop	5% per-ETF; Nifty 50 fallback on breach
Paper AUM	₹100Cr INR · Inception 2026-03-07

Current Regime

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As of —

Equity Exposure

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Sigmoid of z-score

Fiedler λ₂

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India theme graph

Avg Correlation

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Theme pair avg

🗺️ Regime Map

BROADENING All sectors accessible — full diversification, max exposure

ROTATION Cyclical tilt: Financials, PSU Bank, Auto, Consumer

CONCENTRATION Leader tilt: IT, Healthcare, Nifty Next 50

CRISIS Defensive: Nifty 50 + Gold, reduced exposure

📊 z-score → Exposure

Signal z-score drives sigmoid exposure scaling:

exposure = sigmoid(z) ∈ [5%, 95%]

z > +1 → 73%+ exposure (bull signal)
z ≈ 0 → 50% baseline
z < −1 → <27% exposure (bear signal)
CRISIS → capped at 30% regardless

Fiedler λ₂ — 90-day

Equity Exposure — 1-Year History

Holdings Date

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Active ETFs

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Current Regime

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Equity Exposure

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💼 Current ETF Portfolio

Ticker	Name	Sector	Target Weight	Sector Color
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