HDFC NIFTY200 MOMENTUM 30 ETF vs Motilal Oswal Nifty 200 Momentum 30 Index Fund

HDFC NIFTY200 MOMENTUM 30 ETF and Motilal Oswal Nifty 200 Momentum 30 Index Fund show 100.0% overlap, which is high in MFXray's current universe. This pair ranks #96 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 finance exposure, which alone contributes 20.1% of the shared book. The biggest common positions are State Bank of India, Shriram Finance Ltd., and Eicher Motors Ltd.. Those names account for a large chunk of why the two funds move similarly.

HDFC NIFTY200 MOMENTUM 30 ETF still keeps some identity through very little that stands apart in the top holdings, while Motilal Oswal Nifty 200 Momentum 30 Index Fund leans on TVS Motor Company Limited. 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.