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8 of 48 unique stocks in common · Jaccard: 16.7%
A weighted portfolio overlap of 37.65% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹37.65 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 18.28% in Nippon India Banking & Financial Services Fund 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 Nippon India Banking | in Nippon India ETF |
|---|---|---|
| HDFC BankBanks | 18.28% | 13.51% |
| ICICI BankBanks | 16.43% | 9.48% |
| Axis BankBanks | 9.34% | 3.88% |
| State Bank of IndiaBanks | 6.20% | 3.72% |
| Kotak Mahindra BankBanks | 4.25% | 2.73% |
| Bajaj FinanceFinance | 2.14% | 2.26% |
| IndusInd BankBanks | 3.36% | 1.16% |
| Bajaj FinservFinance | 1.96% | 1.03% |
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 2024). Equity holdings only, ISIN-verified. Not investment advice.