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9 of 47 unique stocks in common · Jaccard: 19.1%
A weighted portfolio overlap of 18.5% indicates a low overlap (mostly different holdings). This means that out of every ₹100 you invest across these two schemes, approximately ₹18.5 is allocated to the exact same companies at the same relative proportions. The schemes share 9 common holdings.
The largest overlapping asset in their portfolios is The Federal Bank, which commands a weight of 6.72% in Back to Index and 4.14% in Nippon India Banking & Financial Services Fund. Holding both schemes increases your concentration in The Federal Bank 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 Nippon |
|---|---|---|
| The Federal BankBanks | 6.72% | 4.14% |
| IndusInd BankBanks | 5.74% | 3.36% |
| Max Financial ServicesInsurance | 4.00% | 2.39% |
| ICICI Prudential Life Insurance CompanyInsurance | 1.93% | 2.79% |
| SBI Cards and Payment ServicesFinance | 1.84% | 3.05% |
| ICICI Lombard General Insurance CompanyInsurance | 4.07% | 1.67% |
| LIC Housing FinanceFinance | 1.59% | 2.35% |
| KFin TechnologiesCapital Markets | 1.14% | 1.34% |
| One 97 CommunicationsFinancial Technology (Fintech) | 4.38% | 0.44% |
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 Apr 2026). Equity holdings only, ISIN-verified. Not investment advice.