We checked 8,063 pairs of funds this month — which fund houses tend to run similar funds, and which specific fund pairs are worth a second look if you own both.
🚩 Wall of Shame: Worst Fund Pairs
These specific pairs of funds hold almost identical portfolios. Worth checking if you own both.
Sundaram Mutual Fund — ELSS Tax Saver Fund and Flexicap Fund (Regular Growth): 99.3% portfolio overlap
Quantum Mutual Fund — Value Fund and ELSS Tax Saver Fund (Regular Growth): 98.6% portfolio overlap
Shriram Mutual Fund — Flexi Cap Fund and ELSS Tax Saver Fund (Regular Growth): 97.1% portfolio overlap
If you bought an ELSS fund just for the Section 80C tax saving, and you also hold another equity fund from the same fund house, check your holdings. Several of these pairs show you might be holding one bet split across two funds, each with its own fee and exit-load clock, not two different bets.
📈 Mover of the Month
We compare each fund house’s score against last month to catch a lineup that’s converging (or genuinely diverging) in real time, not just where it sits today.
Biggest mover: Jio BlackRock Mutual Fund — overlap score fell from 39.2% in June to 33.1% in July. Its funds are becoming more genuinely distinct from one another, not less. Flexi Cap ↔ Large Cap is the one pair still climbing (71.4% → 73.8%) even as the overall lineup improved — worth checking if you hold both of those specifically.
Worth watching: Samco Mutual Fund — overlap score rose from 23.9% in June to 29.2% in July. Active Momentum ↔ Special Opportunities tripled in one month, from 21.3% to 67.4%. One month isn’t a trend, but worth checking again next month.
⚠ Bad Guys: Most Overlap
For each fund house, we averaged how much its own funds overlap with one another, weighted by holding size. A high score here is not a good thing — it means that fund house’s different funds are, to a large extent, the same portfolio wearing different names.
CHART
Highest same-AMC overlap
Average pairwise overlap across each fund house's own equity lineup
Example: NJ Mutual Fund scores 67.9%. That means if you picked two of NJ’s equity funds at random, on average about two-thirds of your money would be sitting in the same stocks in both. You’d have paid for two funds but really made one bet.
✓ Good Guys: Least Overlap
These fund houses’ own funds genuinely give you different things to invest in — low overlap between their own lineup. Fund houses with very few comparable funds are left out, since one pair alone can be misleading.
CHART
Lowest same-AMC overlap
Average pairwise overlap across each fund house's own equity lineup
Source: monthly portfolio disclosures filed by every AMFI-registered mutual fund, via Punji Research’s data pipeline. Educational content, not investment advice or a recommendation to buy, hold, or sell any fund. This is a snapshot — fund holdings change every month.