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8 of 96 unique stocks in common · Jaccard: 8.3%
A weighted portfolio overlap of 29.31% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹29.31 is allocated to the exact same companies at the same relative proportions. The schemes share 8 common holdings.
The largest overlapping asset in their portfolios is HDFC Bank, which commands a weight of 9.24% in ICICI Prudential Business Cycle Fund and 9.41% in Nippon India Focused Equity 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 ICICI | in Nippon |
|---|---|---|
| HDFC BankBanks | 9.24% | 9.41% |
| ICICI BankBanks | 7.17% | 8.03% |
| Reliance IndustriesPetroleum Products | 5.46% | 4.62% |
| Axis BankBanks | 3.41% | 7.36% |
| HDFC Life Insurance CompanyInsurance | 2.89% | 2.24% |
| Hero MotoCorpAutomobiles | 2.07% | 3.50% |
| Honeywell Automation IndiaIndustrial Manufacturing | 0.29% | 4.71% |
| Affle 3iIT - Services | 0.28% | 3.12% |
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.