IB40-Groww Nifty 500 Low Volatility 50 ETF vs ICICI Prudential Equity Minimum Variance Fund

A weighted portfolio overlap of 23.68% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹23.68 is allocated to the exact same companies at the same relative proportions. The schemes share 10 common holdings.

The largest overlapping asset in their portfolios is State Bank of India, which commands a weight of 5.59% in IB40-Groww Nifty 500 Low Volatility 50 ETF and 6.59% in ICICI Prudential Equity Minimum Variance Fund. Holding both schemes increases your concentration in State Bank of India 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).