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12 of 38 unique stocks in common · Jaccard: 31.6%
A weighted portfolio overlap of 59.89% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹59.89 is allocated to the exact same companies at the same relative proportions. The schemes share 12 common holdings.
The largest overlapping asset in their portfolios is HDFC Bank, which commands a weight of 17.55% in Back to Index and 17.83% in Tata Nifty Financial Services Index 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 Tata |
|---|---|---|
| HDFC BankBanks | 17.55% | 17.83% |
| ICICI BankBanks | 13.42% | 13.55% |
| State Bank of IndiaBanks | 6.59% | 9.02% |
| Axis BankBanks | 5.41% | 10.26% |
| Kotak Mahindra BankBanks | 4.19% | 9.37% |
| Bajaj FinanceFinance | 3.72% | 8.05% |
| BSECapital Markets | 2.21% | 5.61% |
| Shriram FinanceFinance | 1.95% | 4.39% |
| Bajaj FinservFinance | 1.50% | 3.41% |
| SBI Life Insurance CompanyInsurance | 1.21% | 2.72% |
| Jio Financial ServicesFinance | 1.20% | 2.60% |
| HDFC Life Insurance CompanyInsurance | 0.94% | 2.12% |
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.