Axis ELSS Tax Saver Fund vs HDFC ELSS Tax saver
Portfolio overlap: how much of the two funds sits in the same stocks. Holdings as of Aug 2026.
Portfolio overlap
39.0%
Moderate overlap
Some shared stocks, different bets.
21
Common stocks
47
Only in Axis ELSS Tax Saver Fund
41
Only in HDFC ELSS Tax saver
Overlap adds the smaller weight of each common stock. Shares only; cash, bonds and REITs left out.
21 common stocks
Axis ELSS Tax Saver FundHDFC ELSS Tax saver| Stock | Axis ELSS Tax Saver Fund | HDFC ELSS Tax saver | Overlap |
|---|---|---|---|
| ICICI Bank LtdFinancial Services | 7.02% | 9.32% | 7.02% |
| HDFC Bank LtdFinancial Services | 5.55% | 7.36% | 5.55% |
| Bharti Airtel LtdCommunication Services | 4.26% | 4.29% | 4.26% |
| Axis Bank LtdFinancial Services | 2.63% | 6.50% | 2.63% |
| State Bank Of IndiaFinancial Services | 2.37% | 4.64% | 2.37% |
| Zomato LtdConsumer Discretionary | 3.24% | 2.31% | 2.31% |
| Kotak Mahindra Bank LtdFinancial Services | 2.10% | 4.59% | 2.10% |
| Reliance Industries LtdEnergy | 1.66% | 2.66% | 1.66% |
| Larsen & Toubro LtdIndustrials | 2.90% | 1.60% | 1.60% |
| PB Fintech LtdTechnology | 1.99% | 1.35% | 1.35% |
| Interglobe Aviation LtdTransportation & Logistics | 1.36% | 1.34% | 1.34% |
| Infosys LtdTechnology | 1.75% | 1.17% | 1.17% |
| Hyundai Motor India LtdConsumer Discretionary | 1.14% | 2.76% | 1.14% |
| Tata Steel LtdMaterials | 0.86% | 1.73% | 0.86% |
| Karur Vysya Bank LtdFinancial Services | 0.76% | 1.30% | 0.76% |
| Hindustan Unilever LtdConsumer Staples | 0.84% | 0.74% | 0.74% |
| Mahindra & Mahindra LtdConsumer Discretionary | 2.57% | 0.72% | 0.72% |
| HCL Technologies LtdTechnology | 0.67% | 2.93% | 0.67% |
| Anthem Biosciences LtdHealthcare | 0.80% | 0.28% | 0.28% |
| Rubicon Research LtdHealthcare | 0.45% | 0.25% | 0.25% |
| TML Commercial Vehicles LtdIndustrials | 1.30% | 0.18% | 0.18% |
| Total | 46.22% | 58.02% | 38.96% |
Only in Axis ELSS Tax Saver Fund
47 stocks, 51.9% of the fund
- Bajaj Finance LtdFinancial Services3.42%
- Divi'S Laboratories LtdHealthcare2.71%
- Pidilite Industries LtdMaterials2.62%
- Cholamandalam Investment and Finance Company LtdFinancial Services2.39%
- Ultratech Cement LtdMaterials2.28%
- Titan Company LtdConsumer Discretionary1.93%
- Tata Consultancy Services LtdTechnology1.93%
- CG Power And Industrial Solutions LtdIndustrials1.68%
- Sun Pharmaceutical Industries LtdHealthcare1.63%
- Indian Hotels Co. LtdConsumer Discretionary1.58%
Only in HDFC ELSS Tax saver
41 stocks, 40.7% of the fund
- Maruti Suzuki India LtdConsumer Discretionary4.66%
- SBI Life Insurance Company LtdFinancial Services3.25%
- Bajaj Auto LtdConsumer Discretionary1.96%
- Britannia Industries LtdConsumer Staples1.72%
- Apollo Hospitals Enterprises LtdHealthcare1.53%
- JSW Steel LtdMaterials1.51%
- Bosch LtdConsumer Discretionary1.41%
- Dr. Lal Pathlabs LtdHealthcare1.38%
- Jubilant Foodworks LtdConsumer Discretionary1.23%
- Metropolis Healthcare LtdHealthcare1.17%
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What is mutual fund portfolio overlap?
Portfolio overlap is the share of two funds' money that sits in the same stocks in the same amounts. Two flexi cap funds that both hold HDFC Bank, ICICI Bank and Reliance overlap by the smaller of their weights in each of those stocks.
How is portfolio overlap calculated?
For every stock both funds hold, take the smaller of the two weights, then add them up. If one fund holds HDFC Bank at 8% and the other at 5%, that stock adds 5% to the overlap. Only shares count; cash, bonds, deposits and REITs are left out. The figures use each fund's latest monthly portfolio disclosure.
Is high overlap between two funds bad?
Not by itself. RuDo studied 33,153 pairs of diversified equity funds over five years to September 2026. Funds from different fund houses with 50% to 70% overlap shared mostly the index's largest stocks, and holding both still made returns swing 12% to 15% less around the index than holding either one. Overlap above 70% came mostly from two funds of the same fund house, which hold nearly the same portfolio.
How often does the overlap change?
Fund houses disclose their portfolios every month, so the overlap is refreshed as each new disclosure arrives. It moves slowly for most diversified funds and faster for focused or high-turnover funds.
Based on each fund's monthly portfolio disclosure. Past performance does not indicate future returns.