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14 of 46 unique stocks in common · Jaccard: 30.4%
A weighted portfolio overlap of 53.16% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹53.16 is allocated to the exact same companies at the same relative proportions. The schemes share 14 common holdings.
The largest overlapping asset in their portfolios is HDFC Bank, which commands a weight of 17.55% in Back to Index and 13.51% in Nippon India ETF S&P BSE Sensex. 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 | 17.55% | 13.51% |
| ICICI BankBanks | 13.42% | 9.48% |
| InfosysIT - Software | 6.16% | 5.95% |
| Bharti AirtelTelecom - Services | 8.60% | 3.93% |
| Axis BankBanks | 5.41% | 3.88% |
| Tata Consultancy ServicesIT - Software | 3.75% | 4.59% |
| State Bank of IndiaBanks | 6.59% | 3.72% |
| NTPCPower | 2.81% | 2.02% |
| HCL TechnologiesIT - Software | 1.88% | 1.70% |
| Power Grid Corporation of IndiaPower | 2.14% | 1.61% |
| Bajaj FinservFinance | 1.50% | 1.03% |
| Tech MahindraIT - Software | 1.39% | 0.92% |
| IndusInd BankBanks | 0.90% | 1.16% |
| WiproIT - Software | 0.85% | 0.76% |
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.