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7 of 50 unique stocks in common · Jaccard: 14%
A weighted portfolio overlap of 19.34% indicates a low overlap (mostly different holdings). This means that out of every ₹100 you invest across these two schemes, approximately ₹19.34 is allocated to the exact same companies at the same relative proportions. The schemes share 7 common holdings.
The largest overlapping asset in their portfolios is Multi Commodity Exchange of India, which commands a weight of 4.33% in Back to Index and 4.42% in Kotak Nifty Financial Services Ex-Bank Index Fund. Holding both schemes increases your concentration in Multi Commodity Exchange of India 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 Kotak |
|---|---|---|
| Multi Commodity Exchange of IndiaCapital Markets | 4.33% | 4.42% |
| BSECapital Markets | 3.83% | 9.93% |
| Shriram FinanceFinance | 3.03% | 7.78% |
| One 97 CommunicationsFinancial Technology (Fintech) | 7.29% | 2.76% |
| PB FintechFinancial Technology (Fintech) | 2.20% | 3.40% |
| Aditya Birla CapitalFinance | 5.17% | 1.76% |
| L&T FinanceFinance | 2.61% | 1.43% |
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.