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18 of 34 unique stocks in common · Jaccard: 52.9%
A weighted portfolio overlap of 73.19% indicates a significant overlap (largely the same bets). This means that out of every ₹100 you invest across these two schemes, approximately ₹73.19 is allocated to the exact same companies at the same relative proportions. The schemes share 18 common holdings.
The largest overlapping asset in their portfolios is Hindustan Aeronautics, which commands a weight of 19.99% in Back to Index and 14.40% in Mirae Asset BSE India Defence ETF. Holding both schemes increases your concentration in Hindustan Aeronautics rather than expanding your diversification.
If the overlap is above 30%, it is typically because both schemes benchmark to the same index (e.g. Nifty 50 or Nifty LargeMidcap 250) or overlap in their top large-cap picks. To improve your portfolio's diversification, consider allocating one of these tranches to a category with lower structural correlation (such as a mid-cap, small-cap, or international equity fund).
| Stock | in Back | in Mirae |
|---|---|---|
| Hindustan AeronauticsAerospace & Defense | 19.99% | 14.40% |
| Bharat ElectronicsAerospace & Defense | 17.52% | 12.13% |
| Solar Industries IndiaChemicals & Petrochemicals | 11.06% | 13.64% |
| Mazagon Dock ShipbuildersIndustrial Manufacturing | 6.10% | 5.76% |
| MTAR TechnologiesElectrical Equipment | 4.06% | 5.10% |
| Cochin ShipyardIndustrial Manufacturing | 4.31% | 3.78% |
| Data Patterns (India)Aerospace & Defense | 3.55% | 3.66% |
| Bharat ForgeAuto Components | 14.74% | 3.42% |
| Bharat DynamicsAerospace & Defense | 3.70% | 3.38% |
| Astra Microwave ProductsAerospace & Defense | 2.80% | 3.62% |
| Garden Reach Shipbuilders & EngineersAerospace & Defense | 2.52% | 2.32% |
| Zen TechnologiesAerospace & Defense | 2.26% | 2.34% |
| Apollo Micro SystemsAerospace & Defense | 1.16% | 1.64% |
| AXISCADES TechnologiesAerospace & Defense | 1.06% | 1.02% |
| Paras Defence and Space TechnologiesAerospace & Defense | 0.83% | 0.89% |
| Mishra Dhatu NigamAerospace & Defense | 0.56% | 0.63% |
| BEMLAgricultural, Commercial & Construction Vehicles | 2.03% | 0.43% |
| Dynamatic TechnologiesIndustrial Manufacturing | 1.32% | 0.28% |
Weighted overlap = Σ min(weight in fund A, weight in fund B) across shared stocks, from each fund's latest public monthly portfolio (as on May 2026). Equity holdings only, ISIN-verified. Not investment advice.