HDFC NIFTY 50 ETF vs SBI Nifty Index Fund
HDFC vs SBI· Portfolio Overlap Analysis
Analysis
SBI Nifty Index Fund and HDFC NIFTY 50 ETF show 100.0% overlap, which is high in MFXray's current universe. This pair ranks #4 out of 95,528 analyzed combinations. The catch is that this is a cross-AMC pair, so changing fund houses here does not really change the portfolio underneath.
The overlap is being driven mainly by banks exposure, which alone contributes 30.9% of the shared book. The biggest common positions are HDFC Bank Ltd., ICICI Bank Ltd., and Reliance Industries Ltd.. Those names account for a large chunk of why the two funds move similarly.
SBI Nifty Index Fund still keeps some identity through very little that stands apart in the top holdings, while HDFC NIFTY 50 ETF leans on very little that stands apart in the top holdings. That matters because the common core is doing most of the heavy lifting, and the unique sleeve around it is relatively small.
The practical takeaway is simple: holding both funds is likely giving you more duplication than diversification. This is the kind of pair that deserves a second look before you assume you are spreading risk.
Common Holdings (50)
| Stock | Wt% in HDFC NIFTY 50 ETF | Wt% in SBI Nifty Index | Overlap |
|---|---|---|---|
HDFC Bank Ltd. Banks | 11.83% | 11.83% | 11.83% |
ICICI Bank Ltd. Banks | 8.58% | 8.58% | 8.58% |
Reliance Industries Ltd. Petroleum Products | 8.20% | 8.20% | 8.20% |
Bharti Airtel Ltd. Telecom - Services | 4.56% | 4.56% | 4.56% |
Larsen and Toubro Ltd. Construction | 4.38% | 4.38% | 4.38% |
State Bank of India Banks | 4.34% | 4.34% | 4.34% |
Infosys Limited IT - Software | 3.97% | 3.97% | 3.97% |
Axis Bank Ltd. Banks | 3.45% | 3.45% | 3.45% |
Kotak Mahindra Bank Limited Banks | 2.66% | 2.66% | 2.66% |
Mahindra & Mahindra Ltd. Automobiles | 2.64% | 2.64% | 2.64% |
ITC LIMITED Diversified FMCG | 2.63% | 2.63% | 2.63% |
Tata Consultancy Services Ltd. IT - Software | 2.35% | 2.35% | 2.35% |
Bajaj Finance Ltd. Finance | 2.30% | 2.30% | 2.30% |
Hindustan Unilever Ltd. Diversified FMCG | 1.81% | 1.81% | 1.81% |
Maruti Suzuki India Limited Automobiles | 1.70% | 1.70% | 1.70% |
Sun Pharmaceutical Industries Ltd. Pharmaceuticals & Biotechnology | 1.60% | 1.60% | 1.60% |
NTPC Limited Power | 1.58% | 1.58% | 1.58% |
Titan Company Ltd. Consumer Durables | 1.56% | 1.56% | 1.56% |
Eternal Limited Retailing | 1.54% | 1.54% | 1.54% |
Tata Steel Ltd. Ferrous Metals | 1.53% | 1.53% | 1.53% |
Bharat Electronics Ltd. Aerospace & Defense | 1.39% | 1.39% | 1.39% |
Shriram Finance Ltd. Finance | 1.32% | 1.32% | 1.32% |
UltraTech Cement Limited Cement & Cement Products | 1.31% | 1.31% | 1.31% |
HCL Technologies Ltd. IT - Software | 1.28% | 1.28% | 1.28% |
Power Grid Corporation of India Ltd. Power | 1.18% | 1.18% | 1.18% |
Hindalco Industries Ltd. Non - Ferrous Metals | 1.17% | 1.17% | 1.17% |
JSW Steel Ltd. Ferrous Metals | 1.03% | 1.03% | 1.03% |
Bajaj Finserv Ltd. Finance | 0.99% | 0.99% | 0.99% |
Adani Ports & Special Economic Zone Transport Infrastructure | 0.98% | 0.98% | 0.98% |
Bajaj Auto Limited Automobiles | 0.96% | 0.96% | 0.96% |
Eicher Motors Ltd. Automobiles | 0.96% | 0.96% | 0.96% |
InterGlobe Aviation Ltd. Transport Services | 0.95% | 0.95% | 0.95% |
Oil & Natural Gas Corporation Ltd. Oil | 0.95% | 0.95% | 0.95% |
Asian Paints Limited Consumer Durables | 0.94% | 0.94% | 0.94% |
Grasim Industries Ltd. Cement & Cement Products | 0.93% | 0.93% | 0.93% |
Coal India Ltd. Consumable Fuels | 0.85% | 0.85% | 0.85% |
Nestle India Ltd. Food Products | 0.81% | 0.81% | 0.81% |
SBI Life Insurance Company Ltd. Insurance | 0.80% | 0.80% | 0.80% |
Tech Mahindra Ltd. IT - Software | 0.75% | 0.75% | 0.75% |
Trent Ltd. Retailing | 0.75% | 0.75% | 0.75% |
Jio Financial Services Limited Finance | 0.73% | 0.73% | 0.73% |
Max Healthcare Institute Limited Healthcare Services | 0.71% | 0.71% | 0.71% |
Apollo Hospitals Enterprise Ltd. Healthcare Services | 0.70% | 0.70% | 0.70% |
Tata Motors Passenger Vehicles Limited Automobiles | 0.70% | 0.70% | 0.70% |
Dr Reddys Laboratories Ltd. Pharmaceuticals & Biotechnology | 0.68% | 0.68% | 0.68% |
HDFC Life Insurance Company Limited Insurance | 0.67% | 0.67% | 0.67% |
Cipla Ltd. Pharmaceuticals & Biotechnology | 0.66% | 0.66% | 0.66% |
Tata Consumer Products Limited Agricultural Food & Other Products | 0.65% | 0.65% | 0.65% |
Wipro Ltd. IT - Software | 0.50% | 0.50% | 0.50% |
ADANI ENTERPRISES LIMTIED Metals & Minerals Trading | 0.49% | 0.49% | 0.49% |
Unique to HDFC NIFTY 50 ETF
All top holdings are shared with the other fund.
Unique to SBI Nifty Index
All top holdings are shared with the other fund.
Sector Overlap Breakdown
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Overlap calculated on equity holdings only. Debt, government securities, and cash are excluded.