Mutual fund overlap calculator
How much of two funds is the same portfolio — measured by shared weight, not by counting shared names.
Summary
Portfolio overlap is the share of two mutual funds invested in the same securities, measured as the sum of the smaller weight across every shared holding. Two funds each holding 9% Reliance contribute 9 percentage points. It is computed from each scheme's monthly portfolio disclosure and matched on ISIN, so different spellings of the same company still count as one holding. Shared government securities are counted too, but reported separately — two equity funds holding the same G-Sec are not sharing a view on a company.
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This calculator runs on each scheme’s monthly portfolio disclosure. Unlike NAVs, which AMFI publishes centrally every day, holdings are published by each AMC separately — there is no single feed to subscribe to. Once those files are being imported, every fund we carry becomes comparable here.
About portfolio overlap
What is mutual fund portfolio overlap?
It is the share of two funds' portfolios invested in the same securities. It is measured as the sum, across every shared holding, of the smaller of the two weights — so two funds each holding 9% Reliance contribute 9 percentage points of overlap. Counting how many stock names appear in both, which is what most tools show, is close to meaningless: eighteen shared holdings of 0.2% each is under 4% of your money.
Is a high overlap bad?
Not on its own. Two large-cap funds will overlap heavily because the investable universe is small, and that says nothing about either manager. What it does mean is that holding both gives you less diversification than the two fund names suggest, while you pay each fund's expense ratio in full. Whether that is a problem depends on why you hold both.
How is the overlap calculated?
From each scheme's most recent monthly portfolio disclosure, which SEBI requires every AMC to publish. Holdings are matched on ISIN rather than company name, because the same company appears as 'Reliance Industries Ltd' in one disclosure and 'RELIANCE INDUSTRIES LIMITED' in another — matching on the name would report them as different stocks and make the portfolios look more diverse than they are. Cash, TREPS and net receivables are excluded, since two funds parking money overnight are not making the same investment.
Do shared government securities count as overlap?
They count towards the total, but the page reports them separately. Two funds holding the same government bond do have that money in the same instrument, so leaving it out would understate how much is duplicated — and for two debt funds the shared paper is the whole comparison. But the sovereign universe is small enough that funds collide in it by default, so it can add ten or twenty points to an equity comparison without either manager sharing a view on a single business. Every comparison therefore shows how much of the headline is shared company ownership and how much is not.
How current is the data?
Portfolios are disclosed monthly and with a lag, so the holdings shown are the most recent published set rather than what the fund holds today. The disclosure date is shown beside each fund, and the page warns you when the two funds' disclosures are from different months — comparing one fund's July portfolio with another's April portfolio is a comparison of two moments rather than two funds.
Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Portfolio holdings change and are disclosed monthly with a lag, so the figures here describe the most recently published portfolios rather than what a fund holds today. See the full scheme list.