Different fund categories, same stocks? These equity mutual funds have up to 79.4% portfolio overlap

Bank of India Large & Mid Cap Fund and Bank of India Multi Cap Fund have a 79.4% portfolio overlap despite different categories, per Value Research.

Other pairs with high overlap include Canara Robeco Flexi Cap Fund and Canara Robeco Large Cap Fund at 74.9%.

SEBI mandates allow fund managers flexibility, e.g., flexi cap funds have no fixed allocation limits, leading to similar stock picks.

Overlap reduces diversification benefits when investing across categories within the same AMC.

Data excludes passive and ELSS funds, as of 30 June 2026.