Portfolio Funds
Portfolio Health Score
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Select categories to start the analysis.
Overlap & Redundancy Dashboard
Estimated Overlap
Common holdings in your portfolio
Unique Exposure
Non-redundant stock picking
Rupee-at-Risk Visualization
High Redundancy Detected
You are essentially buying the same stocks twice. Your portfolio is highly concentrated in a few top names.
Portfolio Component Table
How Overlap is Estimated
Diversity Penalty: A 10% penalty is applied for each category that has more than 2 funds to discourage "scheme hoarding."
Category Probability: In 2026, Large Cap funds share ~80% of stocks with the Nifty 50 Index. Mid & Small caps have lower overlap (~10%).
What is Mutual Fund Overlap?
Mutual fund overlap occurs when an investor holds multiple funds that invest in identical underlying stocks. Owning five different large-cap mutual funds does not create true diversification; it simply results in redundant duplicate charges and unnecessary portfolio clutter.
High portfolio overlap increases concentration risk and inflates overall expense ratio drag without boosting returns. Audit your fund returns on our mutual fund returns calculator and build a balanced multi-asset allocation on our asset allocation calculator. Automate disciplined investing through our SIP calculator, calculate the long-term wealth erosion of fund management fees on our expense ratio impact calculator, track scheme consistency across market cycles with our rolling returns calculator, and track your total net wealth on our net worth calculator.
While some overlap is inevitable, high redundancy (above 60%) defeats the purpose of diversification. It makes your portfolio "top-heavy," meaning your returns are dependent on just a few stock names rather than the broader market.
Category Overlap Matrix: 2026 Benchmarks
| Fund Pair | Estimated Overlap | Verdict |
|---|---|---|
| Index vs Large Cap | 85% - 95% | Highly Redundant |
| Flexi Cap vs Large Cap | 55% - 70% | Moderate Overlap |
| Large Cap vs Small Cap | 5% - 12% | Excellent Diversification |
| Mid Cap vs Small Cap | 20% - 35% | Healthy Blend |
Checklist: How to Prune a Redundant Portfolio
- Consolidate Large Caps: If you have an Index fund, you probably don't need an active Large Cap fund.
- Verify Flexi-Caps: Many Indian Flexi-cap funds are currently biased towards Large Caps (70%+). Check their mid-cap exposure.
- Limit Fund Count: An ideal portfolio doesn't need more than 4-5 well-picked mutual funds.
- Avoid NFO Clones: Don't buy New Fund Offers that track the same theme as your existing funds.
- Rebalance Annually: Fund managers change stock picks; your overlap should be checked every 12 months.
Technical Insight: Portfolio Concentration Risk
In finance, Tracking Error and Concentration are the two silent profit killers. When your funds have high overlap, your tracking error relative to the index might stay low, but your risk concentration peaks. If the top 5 stocks in the Nifty 50 face a sector-wide correction, a redundant portfolio can lose 20-30% of its value even if you hold "different" mutual fund schemes.