HDFC ELSS Tax saver vs SBI ELSS Tax Saver Fund
Portfolio overlap: how much of the two funds sits in the same stocks. Holdings as of Aug 2026.
Portfolio overlap
39.1%
Moderate overlap
Some shared stocks, different bets.
25
Common stocks
37
Only in HDFC ELSS Tax saver
61
Only in SBI ELSS Tax Saver Fund
Overlap adds the smaller weight of each common stock. Shares only; cash, bonds and REITs left out.
25 common stocks
HDFC ELSS Tax saverSBI ELSS Tax Saver Fund| Stock | HDFC ELSS Tax saver | SBI ELSS Tax Saver Fund | Overlap |
|---|---|---|---|
| ICICI Bank LtdFinancial Services | 9.32% | 7.79% | 7.79% |
| HDFC Bank LtdFinancial Services | 7.36% | 6.27% | 6.27% |
| Kotak Mahindra Bank LtdFinancial Services | 4.59% | 6.70% | 4.59% |
| Reliance Industries LtdEnergy | 2.66% | 3.93% | 2.66% |
| Bharti Airtel LtdCommunication Services | 4.29% | 1.75% | 1.75% |
| Larsen & Toubro LtdIndustrials | 1.60% | 2.89% | 1.60% |
| Axis Bank LtdFinancial Services | 6.50% | 1.43% | 1.43% |
| Maruti Suzuki India LtdConsumer Discretionary | 4.66% | 1.28% | 1.28% |
| Britannia Industries LtdConsumer Staples | 1.72% | 1.22% | 1.22% |
| Cipla LtdHealthcare | 1.09% | 2.11% | 1.09% |
| State Bank Of IndiaFinancial Services | 4.64% | 1.04% | 1.04% |
| Tech Mahindra LtdTechnology | 1.02% | 1.94% | 1.02% |
| Infosys LtdTechnology | 1.17% | 0.95% | 0.95% |
| Tata Steel LtdMaterials | 1.73% | 0.86% | 0.86% |
| JSW Energy LtdUtilities | 0.87% | 0.73% | 0.73% |
| Mahindra & Mahindra LtdConsumer Discretionary | 0.72% | 1.03% | 0.72% |
| Bosch LtdConsumer Discretionary | 1.41% | 0.70% | 0.70% |
| Eicher Motors LtdConsumer Discretionary | 0.90% | 0.59% | 0.59% |
| Godrej Consumer Products LtdConsumer Staples | 0.74% | 0.57% | 0.57% |
| 360 One Wam LtdFinancial Services | 0.73% | 0.56% | 0.56% |
| Jubilant Foodworks LtdConsumer Discretionary | 1.23% | 0.47% | 0.47% |
| Karur Vysya Bank LtdFinancial Services | 1.30% | 0.46% | 0.46% |
| Lupin LtdHealthcare | 0.96% | 0.45% | 0.45% |
| TML Commercial Vehicles LtdIndustrials | 0.18% | 1.19% | 0.18% |
| PB Fintech LtdTechnology | 1.35% | 0.08% | 0.08% |
| Total | 62.74% | 46.99% | 39.06% |
Only in HDFC ELSS Tax saver
37 stocks, 35.9% of the fund
- SBI Life Insurance Company LtdFinancial Services3.25%
- HCL Technologies LtdTechnology2.93%
- Hyundai Motor India LtdConsumer Discretionary2.76%
- Zomato LtdConsumer Discretionary2.31%
- Bajaj Auto LtdConsumer Discretionary1.96%
- Apollo Hospitals Enterprises LtdHealthcare1.53%
- JSW Steel LtdMaterials1.51%
- Dr. Lal Pathlabs LtdHealthcare1.38%
- Interglobe Aviation LtdTransportation & Logistics1.34%
- Metropolis Healthcare LtdHealthcare1.17%
Only in SBI ELSS Tax Saver Fund
61 stocks, 50.0% of the fund
- Adani Enterprises LtdMaterials3.09%
- Bajaj Finance LtdFinancial Services2.88%
- Torrent Power LtdUtilities2.15%
- FSN E-Commerce Ventures LtdConsumer Discretionary1.98%
- AIA Engineering LtdIndustrials1.88%
- HDFC Life Insurance Company LtdFinancial Services1.74%
- Sun Pharmaceutical Industries LtdHealthcare1.70%
- Cholamandalam Investment and Finance Company LtdFinancial Services1.52%
- Hindalco Industries LtdMaterials1.47%
- Asian Paints LtdConsumer Discretionary1.33%
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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.