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Check how much any two mutual funds actually overlap — the common stocks, shared weight and sector concentration — before you hold both. Updated with the latest disclosed portfolios.
Portfolio overlap is the portion of two mutual funds’ holdings that are the same stocks, measured by weight. If two funds each put 8% in HDFC Bank, that stock contributes 8% of shared exposure.
Investors often buy several funds thinking they’re diversifying. But two large-cap or flexi-cap funds frequently hold the same market leaders — so a 40%+ overlap means you’re paying two expense ratios for nearly one portfolio.
A low overlap (under ~15%) suggests the funds genuinely complement each other. A high overlap (above ~30%) signals concentration risk — when those shared stocks fall, both funds fall together.
Use overlap as one input alongside category, expense ratio, risk and your goal — not as the sole deciding factor.
Where w is the stock’s weight in each fund. We use the most recently disclosed monthly portfolios.
