Know what a strategy is actually worth before you risk anything on it.

Define a rule — how stocks are ranked, from which universe, how the money is split, how often it is rebalanced. QuantSmart runs it across ten years of Indian equity prices and reports what you would have kept, after every brokerage charge, every rupee of capital gains tax, and the shares you could not realistically have bought.

Nothing is pre-selected. The rule is yours; the arithmetic is ours.

Test a rule — free See plans
What every result accounts for
  • Slippage, STT, stamp duty, exchange and SEBI fees, GST, DP charges
  • Capital gains tax, netted across each financial year
  • Loss set-off and carry-forward under Indian rules
  • Whole shares only, with undeployed cash carried forward
  • A liquidity floor, so results stay tradeable
  • The benchmark taxed on its own correct basis
2,400 NSE-listed companies · ten years of daily prices · seven years of published accounts

Why the number matters more than the strategy

The same momentum rule, run twice on the same decade of prices. The first run allowed it to buy anything. The second required that somebody was actually selling in the size being bought.

Anything in the universe 49% Restricted to shares with real daily turnover A year, and achievable 19%

Both runs are correctly calculated. The first quietly assumes a willing seller at the closing price for any quantity, which is not how a market works. The second is the number you could have kept.

And the charges nobody models

Most published backtests report gross returns. The charges below are paid on every position at every rebalance, and capital gains tax is deducted on top of them.

Across our own testing, tax alone consumed roughly 60% of the amount by which a quarterly strategy beat its benchmark.

What every result deducts

Below is a single ₹20,000 position, bought and sold at exactly the same price. Nothing moved, and this is what came back.

Position opened₹20,000.00
Slippage, both legs−₹19.50
Securities transaction tax−₹39.00
Stamp duty−₹2.93
Exchange, SEBI fees and GST−₹1.40
Depository charge−₹15.93
Returned to you₹19,921.23

The price did not move. Rebalancing quarterly, this is paid four times a year on every position; monthly, twelve.

Three tools

Each answers a different question.

Backtesting

Apply a rule to a decade of prices and see what it would have returned after charges and capital gains tax, against a benchmark taxed on its own correct basis.

Test a rule

Scores

The full ranking your formula produces at every rebalance date, so you can set weights by rank and see which companies filled each slot period by period.

Open scores

Screener

The same formulas and filters applied to the latest data instead of a historical window. Available to registered users.

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Some of what the testing found

These are results from our own work, including the ones we would rather not have found. They are the reason the tool is built the way it is.

49% → 19% A momentum rule, once stocks that could not actually be bought at size were excluded.
60% Share of the gross outperformance consumed by capital gains tax on a quarterly rebalancing schedule.
p = 0.35 After tax, across 41 independent quarters, the outperformance was not distinguishable from zero.
14.93% What picking five stocks at random returned, against an index at 10.9%. Any rule has to beat this, not the index.

Plans

The free plan keeps the full cost and capital gains tax model — that is the finding, not a feature. What the paid plans add is breadth.

Free

₹0forever
No card, no expiry

Nifty 50, rate of change, quarterly, five equally weighted positions. Five backtests a day.

  • Every charge and tax modelled
  • Benchmark taxed on its own basis
  • Trade ledger and drawdowns
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Pro Most people want this

₹499/ month
or ₹4,999 a year

The whole platform — every universe, formula and frequency, plus the screener and scores view.

  • Midcap, smallcap and sector universes
  • All momentum formulas and value metrics
  • Custom weights, entry filters, SIP
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Research work — priced per engagement

Significance testing, walk-forward validation and Monte Carlo against random selection are analyses we run and report on rather than features of the website.

How it works

What we do not do

We do not tell you what to buy. We do not publish tips, model portfolios or target prices, and we do not sell a strategy. QuantSmart is not registered with SEBI and does not give investment advice.

What the platform produces is arithmetic on a rule you defined. A score describes what a price has already done. It is not a forecast, and the testing above is the reason we are careful about the difference.

Before you rely on any result, including ours. Look at what the rule did in its worst period rather than its best. Check how often it beat the benchmark, not by how much on average. And ask what result would have made you abandon it — if there isn't one, the test was not a test.