Mutual Fund Portfolio Overlap Tool
Spot hidden overlap in your portfolio
Track all your investments in one place
How to Check Mutual Fund Overlap
Select your comparison mode mutual fund scheme
We Have Two Overlap Mode (Compare 2 & Compare 5): Search by fund name or AMC
Get your overlap analysis instantly
See overlapping stocks, overlap percentage, and individual stock weight contributions.
Interpret and act
Use the results to replace, consolidate, or rebalance funds in your portfolio.
Compare 2, 3, 4, or 5 Funds at Once
Most overlap checkers stop at two funds. This one does not. Add up to five mutual funds and the calculator builds a full overlap matrix, so you can see how a new fund fits before you buy it. If two of your funds hold the same top stocks, then you are paying two expense ratios for one bet, and the matrix makes that obvious at a glance.
Overlap is highest inside a single category, so it is worth checking your large cap funds, flexi cap funds, and multi cap funds against each other, where two funds from different fund houses often share 60 to 70 percent of their holdings.
What Is Mutual Fund Overlap?
Mutual fund overlap is the share of holdings that two or more funds have in common. If two funds hold many of the same stocks, then buying both adds little diversification and concentrates your risk. Overlap is measured by comparing each fund's holdings and their weights and summing the common portion.
Mutual fund overlap occurs when two or more MF schemes you hold invest in the same underlying stocks. If your large-cap fund and your flexi-cap fund both hold Reliance, HDFC Bank, and Infosys in their top 10: you are not diversified. You are doubling down on the same positions while paying two separate expense ratios.
What high MF overlap means for your portfolio:
- Concentrated risk disguised as diversification across fund names
- Duplicate expense ratio charges on the same effective exposure
- A single sectoral fall hits multiple funds in your portfolio simultaneously
- Your mutual fund portfolio analysis becomes meaningless without checking overlap first
Novelty Wealth's mutual fund overlap tool compares up to 5 mutual fund schemes at once, instantly showing the overlapping stocks, the overlap percentage, and each stock's weight contribution, so you can make a clean portfolio decision before you invest.
Why You Need to Check Mutual Fund Overlap
True Diversification
Confirm your MF schemes are actually spreading risk: not just duplicating the same top-10 NIFTY stocks under different fund names.
Avoid Paying Twice
Stop paying two expense ratios for the same effective stock exposure. MF overlap analysis reveals where you are overpaying.
Smarter Fund Comparison
Use our mutual fund overlap comparison to decide which fund to keep, switch, or exit: backed by data, not guesswork.
Complete Portfolio Visibility
MF portfolio analysis starts with overlap: understand your actual concentration before evaluating returns or SIP allocation.
Mutual Fund Overlap Is More Widespread Than You Think
Explore Mutual Fund & Its Categories
Understand each mutual fund category and check how much your funds overlap within it:
Mutual Funds
Explore every mutual fund category in one place. Understand where each type fits before you check your funds for overlap.
Large Cap Funds
Learn how large cap funds anchor a portfolio with stable, established companies. This is the category where two funds overlap the most.
Mid Cap Funds
See how mid cap funds balance growth potential with higher risk. Know what to expect before adding one to your portfolio.
Small Cap Funds
Understand small cap funds, the highest-risk and highest-growth category. Weigh the trade-off's before you invest.
ELSS Funds
Understand ELSS (Equity Linked Savings Scheme) funds and their tax benefit under Section 80C. Know the lock-in period before you commit.
Multi Cap Funds
Learn how multi cap funds spread across large, mid, and small caps by mandate. See how they differ from flexi cap funds.
Related Calculators & Research
Explore our calculators and research tools to plan smarter and analyse your portfolio in depth:
SIP Calculator
Estimate the future value of your Mutual Fund investments and see how compounding works for you.
Step-Up SIP Calculator
See the massive impact of increasing your investment amount annually in line with your income growth.
XIRR Calculator
Accurately compute annualized returns for irregular cash flows, multiple investments, or redemption scenarios.
Lumpsum Calculator
Estimate the future value of a one-time Mutual Fund investment and see how compounding works for you.
HRA Calculator
Optimize your rental tax savings instantly.
Tax Regime Calculator
Compare the Old vs. New tax regimes instantly to find out which option saves you the most money.
Mutual Fund Houses Explorer
Browse every mutual fund house (Asset Management Company) and the schemes it runs. A quick way to explore funds by fund house.
Mutual Fund Category Explorer
Explore mutual funds grouped by category. Find and compare schemes within large cap, flexi cap, ELSS, and more.
Asset Performance
Compare how different assets and funds have performed across time periods. Spot the leaders and laggards in your portfolio at a glance.
Your MF Portfolio Has Overlap. Most Do.
Check your mutual fund overlap now: then get SEBI-registered advisory to fix it. All in one place with Novelty Wealth.
Frequently Asked Questions
Mutual fund overlap is the percentage of common stocks shared between two or more MF schemes in your portfolio. If Fund A and Fund B both hold HDFC Bank, Infosys, and TCS in significant weights, your portfolio has high overlap: meaning you are not as diversified as you believe. High MF overlap is one of the most common and costly blind spots in retail investor portfolios.
Use Novelty Wealth's free mutual fund overlap tool. Select any two schemes from the dropdown and the tool instantly shows you the overlapping stocks, overlap percentage, and weight contribution of each common holding. No login required.
A mutual fund overlap of under 30 to 35% between two schemes is generally considered acceptable. When overlap crosses 50%, the two funds are effectively investing in the same stocks, which defeats the purpose of holding both. Large-cap and index-heavy funds naturally tend to have higher overlap due to Nifty 50 concentration: the key question is whether the active bets differ meaningfully.
MF portfolio analysis should cover four dimensions: overlap across schemes, asset allocation versus your target, performance against benchmark on an XIRR basis, and cost efficiency through expense ratios. Overlap is the starting point, as you cannot assess diversification without it. Novelty Wealth's portfolio analysis tools cover all four.
To compare mutual funds in India meaningfully, go beyond returns. Consider:
(1) portfolio overlap between the two & five funds
(2) risk-adjusted performance using the Sharpe ratio
(3) category benchmark alignment
(4) expense ratio and exit load structure
(5) the fund manager's active bets versus the benchmark.
Novelty Wealth's mutual fund overlap tool handles step 1 instantly.
Download the Novelty Wealth app and link your mutual funds using your PAN-registered mobile number via MF Central. All schemes, folios, and current values consolidate automatically into one dashboard: no manual entry, no spreadsheets, and no jumping across AMC portals.
You can compare 2, 3, 4, or 5 mutual funds in a single view. The Compare 5 mode accepts any number of funds from two up to five and builds a full overlap matrix across all of them.
Funds within the same category overlap the most. Two large cap funds, or two flexi cap funds, from different fund houses often share 60 to 70 percent of their holdings, because they draw from the same universe of large Indian companies.