Compare weights rather than just names
Two funds can share 50 holdings but give them very different weights. Weighted overlap compares each shared security using the smaller weight, then sums those minimums. It answers how much of the two reported portfolios overlaps on a weight basis.
A simple example
Suppose fund A has 10% in Company One and 5% in Company Two. Fund B has 7% and 12%, respectively. These securities contribute 7% plus 5%, or 12 percentage points, to overlap. The company-name count is two, but that alone hides the economic exposure.
Allocation answers another question
Owning 60% of fund A and 40% of fund B creates a Company One position of 60% × 10% + 40% × 7% = 8.8%. This look-through exposure is different from the minimum-weight overlap measure. Both are useful, but they should not be conflated.
Check the dates and coverage
A full portfolio dated one month ago is not directly identical to a current top-holdings list. This analyzer displays both dates and coverage percentages. Unreported holdings can hide additional overlap, so partial overlap is a lower-bound observation, not a complete result.
Sources and further reading
This guide explains a tool and its assumptions. It is not personalized financial, tax, or legal advice.
Put the explanation to work.
Change the assumptions, compare the results, and export the numbers without creating an account.
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