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11 of 98 unique stocks in common · Jaccard: 11.2%
A weighted portfolio overlap of 20.96% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹20.96 is allocated to the exact same companies at the same relative proportions. The schemes share 11 common holdings.
The largest overlapping asset in their portfolios is HDFC Bank, which commands a weight of 6.48% in HDFC Flexi Cap Fund and 6.95% in NJ Arbitrage 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 HDFC | in NJ |
|---|---|---|
| HDFC BankBanks | 6.48% | 6.95% |
| State Bank of IndiaBanks | 4.22% | 3.77% |
| Bharti AirtelTelecom - Services | 2.96% | 2.90% |
| Axis BankBanks | 6.84% | 2.13% |
| Reliance IndustriesPetroleum Products | 2.01% | 7.73% |
| ICICI BankBanks | 8.83% | 1.09% |
| Larsen & ToubroConstruction | 3.55% | 0.80% |
| United SpiritsBeverages | 0.72% | 4.28% |
| Bank of BarodaBanks | 0.69% | 7.61% |
| CiplaPharmaceuticals & Biotechnology | 2.89% | 0.35% |
| Bharat ElectronicsAerospace & Defense | 0.02% | 0.04% |
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.