Mutual Fund Portfolio Comparison Tool

This is an update to the popular Equity Mutual Fund Portfolio Overlap Checker

In this edition I have included all open-ended mutual funds from Value Research Online.

The tool extracts data from the portfolio page of VR Online for 3 mutual funds and determines

  • the composition of equity and debt portfolios and plots a bar chart
  • the overlap in portfolio among equity and equity oriented balanced funds (a suggestion by Ms. C K Aparna)
  • common stocks among equity and equity oriented balanced funds and gives the combined value of each stock holding if the user inputs value of investment (a suggestion by Mr. V Muthu Krishnan)

There are some issues with portfolio comparison with debt and debt oriented balanced funds. If you are interested in such comparisons let me know. I will sort them out and post an updated version.

Here are some screenshots:

comparison-0

The main data entry page

comparison-0B

Comparing portfolios of PPFAS LTVF, Franklin India Blue Chip and HDFC Balanced 

comparison-1

Portfolio composition of Reliance MIP, HDFC Income Fund & Templeton India Govt Securities fund

Moneycontrol edition: Equity Mutual Fund Portfolio Comparison Tool (Oct 2016) Thanks to Prakash Warty for pointing out a bug (now corrected).

Download the Updated Equity Mutual Fund Portfolio Comparison Tool (old version)

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92 thoughts on “Mutual Fund Portfolio Comparison Tool

  1. bharat shah

    thank you for better version. i tried my funds. i think, there is a little error in 'results-advanced sheet' for value of common stock. perhaps requires to divide by 100.
    my understanding is: 'results-simple' gives % of no. of common shares among two funds , and not of values. am i correct?

    Reply
    1. pattu

      Thank you. I have added the /100 and corrected it. The % overlap refer to no of common stocks and not of values as you state.

      Reply
  2. bharat shah

    thank you for better version. i tried my funds. i think, there is a little error in 'results-advanced sheet' for value of common stock. perhaps requires to divide by 100.
    my understanding is: 'results-simple' gives % of no. of common shares among two funds , and not of values. am i correct?

    Reply
    1. pattu

      Thank you. I have added the /100 and corrected it. The % overlap refer to no of common stocks and not of values as you state.

      Reply
  3. bharat shah

    further to my above comment , i think , 'result simple' seems showing %of value of two funds' common shares' values combined.
    i could not find 'icici prudential discovery -direct fund in drop down list.

    Reply
    1. pattu

      Result simple is not showing % value. It is the % of common shares. Please type 'discovery' to get ICICI pru discovery. Thank you.

      Reply
  4. bharat shah

    further to my above comment , i think , 'result simple' seems showing %of value of two funds' common shares' values combined.
    i could not find 'icici prudential discovery -direct fund in drop down list.

    Reply
    1. pattu

      Result simple is not showing % value. It is the % of common shares. Please type 'discovery' to get ICICI pru discovery. Thank you.

      Reply
  5. bharat shah

    thank you for your reply. just for understanding ,i like to know how you derive % of common shares in two concerned funds :1. the common shares no. as % of bigger no. of fund,2. the common shares no .as % of smaller no . of fund 3. the common no.of shares as % of average no. of two funds or 4. something different, as i could not derive matching with the result in 'result-simple' for my 3 funds:hdfc equity direct, templeton india equity income and qlte.

    Reply
    1. pattu

      I compare portfolios in VRO and determine common stocks as simple as that. VRO lists about 25 stocks in each fund. Among these I check the overlap and display returns as percentage wrt 25.

      Reply
  6. bharat shah

    thank you for your reply. just for understanding ,i like to know how you derive % of common shares in two concerned funds :1. the common shares no. as % of bigger no. of fund,2. the common shares no .as % of smaller no . of fund 3. the common no.of shares as % of average no. of two funds or 4. something different, as i could not derive matching with the result in 'result-simple' for my 3 funds:hdfc equity direct, templeton india equity income and qlte.

    Reply
    1. pattu

      I compare portfolios in VRO and determine common stocks as simple as that. VRO lists about 25 stocks in each fund. Among these I check the overlap and display returns as percentage wrt 25.

      Reply
    1. pattu

      list the number of permutations and combinations needed for 3 funds, 4 funds and 5 funds. The answer will be clear to you.

      Reply
    1. pattu

      list the number of permutations and combinations needed for 3 funds, 4 funds and 5 funds. The answer will be clear to you.

      Reply
  7. Hariharan Ragunathan

    I landed with this excel after reading your post on whether Rupeer cost averaging works or not. This calculator gave better insights to my funds , it surprised to me the amount of exposure on some stocks I never expected because of the overlaps. Great work sir.

    Reply
  8. Hariharan Ragunathan

    I landed with this excel after reading your post on whether Rupeer cost averaging works or not. This calculator gave better insights to my funds , it surprised to me the amount of exposure on some stocks I never expected because of the overlaps. Great work sir.

    Reply
  9. thiru_is

    I installed MS office 2010 in linux just to use this excel tool. To my knowledge morning star X-ray is the only other tool offering this analysis.

    Many thanks for your time and effort in creating this. It will be good to have the risk & return measure also included in this to have a one stop portfolio analysis tool.

    HDFC Top200 and Quantum long term equity have 40% overlap in portfolio which is surprising.

    Reply
  10. thiru_is

    I installed MS office 2010 in linux just to use this excel tool. To my knowledge morning star X-ray is the only other tool offering this analysis.

    Many thanks for your time and effort in creating this. It will be good to have the risk & return measure also included in this to have a one stop portfolio analysis tool.

    HDFC Top200 and Quantum long term equity have 40% overlap in portfolio which is surprising.

    Reply
  11. Brijesh

    I am trying to use this to compare Franklin Bluechip, ICICI Focused Bluechip and UTI opportunity. In result-simple sheet, %equity portfolio are not coming correct. Its showing 79.62, 78.43 and 83.2 for these 3 funds whereas VR online shows 97.1, 96.61 and 97.2 respectively. Am I missing something?

    Reply
    1. pattu

      Hi Brijesh, Although Franklin Blue Chip has 97.1% equity, VR online lists only 79.62% and the sheet uses only these.

      Reply
  12. Brijesh

    I am trying to use this to compare Franklin Bluechip, ICICI Focused Bluechip and UTI opportunity. In result-simple sheet, %equity portfolio are not coming correct. Its showing 79.62, 78.43 and 83.2 for these 3 funds whereas VR online shows 97.1, 96.61 and 97.2 respectively. Am I missing something?

    Reply
    1. pattu

      Hi Brijesh, Although Franklin Blue Chip has 97.1% equity, VR online lists only 79.62% and the sheet uses only these.

      Reply
    1. pattu

      Disagree with "A better way to gauge performance would be to look at yearly returns and opt for funds that consistently feature in the top-quartile of performance every year. What should one do if they fall (and they will) from the top quartile? I would prefer to short-list some funds with the step-by-step guide, then use my risk and return analyse to check for consistency over 8Y. The rolling returns calculator can also be used.

      Reply
    1. pattu

      Disagree with "A better way to gauge performance would be to look at yearly returns and opt for funds that consistently feature in the top-quartile of performance every year. What should one do if they fall (and they will) from the top quartile? I would prefer to short-list some funds with the step-by-step guide, then use my risk and return analyse to check for consistency over 8Y. The rolling returns calculator can also be used.

      Reply
    1. pattu

      Thank you very much. Please do use the tools and let me know your feedback. I would appreciate if you share the links with your social contacts.

      Reply
    1. pattu

      Thank you very much. Please do use the tools and let me know your feedback. I would appreciate if you share the links with your social contacts.

      Reply
  13. Venkateswaran

    Dear Pattu,

    This is an wonderful tool. It works like a breeze and very handy one to have.

    Just following up on one of the requests in the comments section about adding risk measures. Is it something you have already done and available elsewhere in the site? If not, is it possible for you to do that?

    Second question is about the addition of more number of units to compare. Again it was discussed in the comments section but didn't understand what you were trying to say. Can you please explain that a bit more for my understanding? Thanks!

    Reply
  14. Venkateswaran

    Dear Pattu,

    This is an wonderful tool. It works like a breeze and very handy one to have.

    Just following up on one of the requests in the comments section about adding risk measures. Is it something you have already done and available elsewhere in the site? If not, is it possible for you to do that?

    Second question is about the addition of more number of units to compare. Again it was discussed in the comments section but didn't understand what you were trying to say. Can you please explain that a bit more for my understanding? Thanks!

    Reply
  15. Dilip Kumar

    I find this calculator very useful. Here you have took the reference from VRonline details. I appreciate, if you can update the existing calulator with following :
    1) Use Data from moneycontrol.com- link between bracket for example.(http://www.moneycontrol.com/india/mutualfunds/mfinfo/portfolio_holdings/MTE182)They have provided complete(100 %) portfolio holdings.
    2) Instead of 3 scheme comparision option provide for more number of scheme e.g. 20 MF schemes, objective is that I would like to analyze equitywise % holdings from total 20 MF schemes.
    3) Use moneycontrol.com(http://www.moneycontrol.com/india/mutualfunds/mfinfo/portfolio_holdings/MTE182)to fetch the currently selected 3 schemes and provide Total equity holdings(%) of total 3 schemes.

    Thanks and hoping for your positive response at your ease time.

    Reply
    1. pattu

      Hi Dilip, will check Moneyconrol. Trouble is how the url is formed. Comparing 20 schemes will be cumbersome. Even 4 is trouble. Thank you.

      Reply
  16. Dilip Kumar

    I find this calculator very useful. Here you have took the reference from VRonline details. I appreciate, if you can update the existing calulator with following :
    1) Use Data from moneycontrol.com- link between bracket for example.(http://www.moneycontrol.com/india/mutualfunds/mfinfo/portfolio_holdings/MTE182)They have provided complete(100 %) portfolio holdings.
    2) Instead of 3 scheme comparision option provide for more number of scheme e.g. 20 MF schemes, objective is that I would like to analyze equitywise % holdings from total 20 MF schemes.
    3) Use moneycontrol.com(http://www.moneycontrol.com/india/mutualfunds/mfinfo/portfolio_holdings/MTE182)to fetch the currently selected 3 schemes and provide Total equity holdings(%) of total 3 schemes.

    Thanks and hoping for your positive response at your ease time.

    Reply
    1. pattu

      Hi Dilip, will check Moneyconrol. Trouble is how the url is formed. Comparing 20 schemes will be cumbersome. Even 4 is trouble. Thank you.

      Reply
  17. sandy

    % overlap among hdfc balanced & hdfc mid-cap is 52% , so do I need to re-allocate to other fund. what would you suggest.

    Reply
  18. sandy

    % overlap among hdfc balanced & hdfc mid-cap is 52% , so do I need to re-allocate to other fund. what would you suggest.

    Reply
  19. Raju

    Hi Pattu Sir, This helped me to identify overlap among my SIP mutual funds. I have 40% overlap of Franklin blue chip and Quantum LTE with ICICI pru discovery...I would like to to stop Frnk Blue chip & Quantum LTE and go with Franklin India Smaller Companies Fund...My other SIPs are IDFC premier Equity & Frank High growth fund...Any comments?

    Reply
  20. Raju

    Hi Pattu Sir, This helped me to identify overlap among my SIP mutual funds. I have 40% overlap of Franklin blue chip and Quantum LTE with ICICI pru discovery...I would like to to stop Frnk Blue chip & Quantum LTE and go with Franklin India Smaller Companies Fund...My other SIPs are IDFC premier Equity & Frank High growth fund...Any comments?

    Reply
  21. varun

    Hi, this is a fantastic looking tool , like all others ...but i keep getting error 436. I am using mac office 2010... is that the reason?

    Reply
  22. varun

    Hi, this is a fantastic looking tool , like all others ...but i keep getting error 436. I am using mac office 2010... is that the reason?

    Reply
  23. J.Srikanth

    Hi,

    Recently came across your site when I was trying to get some research on L&T Equity fund. Would you have a view on it? Pl do share. I started a SIP 3 months back and see it VR rating has gone down from 5 to 3 stars and its performance is dipping MoM.

    Also, I am trying to use this MF Portfolio comparison tool. The excel I downloaded does have the option to select the funds from a drop down menu as suggested in the screen shots above. Do I need to link the MF I want to compare in these cells?

    Reply
    1. freefincal

      I have plenty of tools to analyze funds yourself. I have also reviewed a few funds as an illustration. In the portfolio comparison tool, please follow instructions in the sheet to select your fund. Will only work in Windows Excel.

      Reply
  24. J.Srikanth

    Hi,

    Recently came across your site when I was trying to get some research on L&T Equity fund. Would you have a view on it? Pl do share. I started a SIP 3 months back and see it VR rating has gone down from 5 to 3 stars and its performance is dipping MoM.

    Also, I am trying to use this MF Portfolio comparison tool. The excel I downloaded does have the option to select the funds from a drop down menu as suggested in the screen shots above. Do I need to link the MF I want to compare in these cells?

    Reply
    1. freefincal

      I have plenty of tools to analyze funds yourself. I have also reviewed a few funds as an illustration. In the portfolio comparison tool, please follow instructions in the sheet to select your fund. Will only work in Windows Excel.

      Reply
  25. Sharath

    Hi... I am not able to use this sheet. When i click on "Click to Compare", one visual studio error window is coming " Runtime error 1004 . Unable to open ..... ". Please suggest how to rectify this issue.

    Reply
    1. Money Reader

      I am getting same error, Look like Value research changes something causing web query to fail. R has analysis tab that does some of this (not everything, this tool is very thoughtful).

      On another note, VR publishes oly top 25 holdings. This most of the time make up for less than 50 % of portfolio. Moneycontrol has everything in it, but it is more difficult to grab data from there. I wish AMFI had api where all thi information was stored.

      Also there is big time need of having something like epersonalcapital.com in india.

      Reply
  26. Sharath

    Hi... I am not able to use this sheet. When i click on "Click to Compare", one visual studio error window is coming " Runtime error 1004 . Unable to open ..... ". Please suggest how to rectify this issue.

    Reply
    1. Money Reader

      I am getting same error, Look like Value research changes something causing web query to fail. R has analysis tab that does some of this (not everything, this tool is very thoughtful).

      On another note, VR publishes oly top 25 holdings. This most of the time make up for less than 50 % of portfolio. Moneycontrol has everything in it, but it is more difficult to grab data from there. I wish AMFI had api where all thi information was stored.

      Also there is big time need of having something like epersonalcapital.com in india.

      Reply
  27. Himanshu

    Sir I am getting run time error 438 on Excel for mac. Is there something which needs to be changed ? Has this been tested on mac ?

    Reply
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  29. Raj Mehta

    The update to mutual fund portfolio comparison tool has made it even better. The tool saves lot of hard work by analyzing various factors for you. I liked the way it presents the data through clean bar charts rather than just show dry figures. It is very quick and interactive too.

    Reply
  30. Nikhil

    Pattu Sir,

    Thanks a lot for the tool.

    However, the percent overlap changes depending on the order in which the funds are entered.
    It computes the overlap with respect to the fund name entered at the top.

    I did the following changes to get the percentage of common shares for both the funds in the pair:
    Un-merged the cells in column B showing the overlap percentage.
    Copied the formula for overlap to the bottom cell and changed the cell reference for the denominator.
    Kept the same numerator which gives the number of common shares.

    This way, I get the percentage of shares for each fund which it has in common with the other.

    I was wondering why you were showing the overlap only for one of the funds, especially since the order of funds would lead to different answers.

    Reply
  31. freefincal

    Thanks NIkhil. Can you please send your version to me? I will post it with a credit to you. This way everyone will benefit. Thank you.

    Reply
  32. Jagdish

    Dear Pattu Sir, seems the Aug2016 version somehow non-functional. It gives Microsoft Visual Basic error 1004. Points some issues copy/pasting due to size variation. Thanks.

    Reply
  33. Prakash Warty

    I found a problem with the Aug2016 version. I compared two Quantum funds, Long Term Equity and Tax Savings. The latter replicates the portfolio of the former. The Results-simple tab shows the number of stocks 18 & 25 for LTE & Tax Savings funds resp. As a result the overlap section shows 5% overlap between the two funds and 1 common stock. The stocks in the portfolio of the funds show in mf1 and mf2 are identical with 24 stocks in both the funds. There is a 100% overlap between the two funds. The histogram in the Results-simple showing the industry-wise holding of stocks for both the funds is correct. They are identical.
    The data in Sheet1 from where the stock count is derived may be the problem. I have not understood how the data is populated in this sheet.
    There is no data in the Results-advanced and common sheets.

    Reply
    1. freefincal

      Hi Prakash, thanks for pointing this out. I have now fixed this and reuploaded the file. Please do give it a go with other funds and let me know if there are any issues.

      Reply
  34. Prakash Warty

    This is fixed. Thanks. I tested with a couple of other funds and it has worked. The Results-advanced sheet appears to be blank, but some data is populated with data from row 78.

    Reply
  35. Kamal Tripathi

    There is still a small bug when I try to run this on my Mac. I get the error

    Run Time error 1004

    Method Default of object 'Range' failed.

    When I hit the debug button. This is around the line where it fails.

    Range(Cells(startv,1), Cells(endv-1, 5)).Select.

    Let me know. If needed I can share screenshots. It is failing for old calculator as well.

    Reply
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