Own 3 funds but really own the same 20 stocks? Pick 2–4 Indian mutual funds and see exactly how much they overlap — shared stocks, weights, and hidden concentration.
Two funds "overlap" when they own the same stocks. A large-cap fund and a flexi-cap fund from different AMCs can easily share 40–60% of their portfolios — so holding both doesn't diversify you as much as the fund count suggests. Overlap is measured here as the sum of the smaller weight for every shared stock: if both funds hold 5% in HDFC Bank, that contributes 5% to overlap.
Holdings come from the funds' latest monthly portfolio disclosures (equity holdings only — derivatives, debt and cash excluded). Disclosures lag by a few weeks; treat this as a point-in-time X-ray.
There's no magic number, but as a rule of thumb: above ~50% overlap, two funds are largely doing the same job — one of them is probably redundant. Below ~25%, they're genuinely different bets.
Large, liquid index heavyweights (HDFC Bank, Reliance, ICICI Bank…) dominate most Indian equity portfolios. Active managers still cluster around them, especially in large-cap and flexi-cap categories.
Yes — foreign equity, REITs and InvITs are included; futures, options, debt, and cash positions are excluded.
Monthly portfolio disclosures as published via Groww's fund pages, cleaned and normalized. Updated periodically — the report shows the disclosure date.
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