10 Fund Overlap
Five funds. One hidden portfolio?
Owning many funds is not the same as being diversified. Pick up to five and see how much they quietly hold in common.
Pick at least two funds
Choose funds from the list, then run the analysis to reveal how much they overlap.
How to read this tool How to read the results
Owning several funds is not the same as being diversified. Two funds can quietly hold many of the same stocks. This tool measures how much.
- Funds you select
- Choose two to five funds. The tool then compares every possible pair among them.
- Pair overlap
- The share of holdings two funds have in common, weighted by position size. A high figure means the two funds largely rise and fall together.
- Shared holdings
- The individual stocks that appear in more than one of your funds. These are your real concentrated bets, hidden across separate funds.
What counts as overlap between two funds?
Stocks held in common, weighted by portfolio position size. Two funds that both hold HDFC Bank at 5% each have 5% pairwise overlap on that stock. Sum all common stocks weighted by the minimum exposure of each pair, and you get the pair's total overlap.
Why does overlap matter for diversification?
If two funds own largely the same stocks, holding both doesn't reduce concentration risk — it just multiplies your exposure to the same companies. Five funds at 70% pairwise overlap are effectively one fund with five fee structures.
How much overlap is too much?
Above 40% pairwise, two funds are largely redundant for diversification — pick the cheaper, better-managed one and drop the other. 25–40% means meaningful redundancy worth examining. Below 25% is usually fine.
How is the overlap percentage calculated?
For each stock held by both funds, we take the smaller weight (min of fund A's % and fund B's %). Sum these minimums across all shared stocks. The total is the overlap %. Stocks held by only one fund don't contribute.
For illustrative purposes only. Holdings data is indicative and periodically disclosed. Mutual fund investments are subject to market risks. This tool does not constitute investment advice.