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21 of 851 unique stocks in common · Jaccard: 2.5%
A weighted portfolio overlap of 17.44% indicates a low overlap (mostly different holdings). This means that out of every ₹100 you invest across these two schemes, approximately ₹17.44 is allocated to the exact same companies at the same relative proportions. The schemes share 21 common holdings.
The largest overlapping asset in their portfolios is HDFC Bank, which commands a weight of 5.87% in Back to Index and 18.28% in Nippon India Banking & Financial Services Fund. Holding both schemes increases your concentration in HDFC 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 |
|---|---|---|
| HDFC BankBanks | 5.87% | 18.28% |
| ICICI BankBanks | 4.51% | 16.43% |
| State Bank of IndiaBanks | 2.21% | 6.20% |
| Axis BankBanks | 1.81% | 9.34% |
| Bajaj FinservFinance | 0.49% | 1.96% |
| SBI Life Insurance CompanyInsurance | 0.41% | 3.67% |
| The Federal BankBanks | 0.35% | 4.14% |
| Power Finance CorporationFinance | 0.32% | 2.29% |
| IndusInd BankBanks | 0.30% | 3.36% |
| One 97 CommunicationsFinancial Technology (Fintech) | 0.23% | 0.44% |
| ICICI Lombard General Insurance CompanyInsurance | 0.21% | 1.67% |
| Max Financial ServicesInsurance | 0.21% | 2.39% |
| ICICI Prudential Life Insurance CompanyInsurance | 0.10% | 2.79% |
| SBI Cards and Payment ServicesFinance | 0.09% | 3.05% |
| Cholamandalam Financial HoldingsFinance | 0.08% | 2.23% |
| LIC Housing FinanceFinance | 0.08% | 2.35% |
| KFin TechnologiesCapital Markets | 0.06% | 1.34% |
| CreditAccess GrameenFinance | 0.04% | 1.53% |
| Equitas Small Finance BankBanks | 0.04% | 2.36% |
| UTI Asset Management CompanyCapital Markets | 0.02% | 1.96% |
| Fedbank Financial ServicesFinance | 0.01% | 0.85% |
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.