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4 of 53 unique stocks in common · Jaccard: 7.5%
A weighted portfolio overlap of 11.87% indicates a low overlap (mostly different holdings). This means that out of every ₹100 you invest across these two schemes, approximately ₹11.87 is allocated to the exact same companies at the same relative proportions. The schemes share 4 common holdings.
The largest overlapping asset in their portfolios is Tata Elxsi, which commands a weight of 3.90% in Back to Index and 3.79% in IB23-Groww Nifty EV & New Age Automotive ETF. Holding both schemes increases your concentration in Tata Elxsi 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 IB23-Groww |
|---|---|---|
| Tata ElxsiIT - Software | 3.90% | 3.79% |
| KPIT TechnologiesIT - Software | 3.42% | 3.72% |
| Tata TechnologiesIT - Services | 2.74% | 2.38% |
| L&T Technology ServicesIT - Services | 2.74% | 2.27% |
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.