Portfolio overlap calculator
Four funds is not the same as four different investments. Enter what you hold and see how much of it is genuinely separate.
Your funds
100% allocatedWhat you actually own
You hold 4 funds, but they land in 4 of 5 asset buckets. Your largest single exposure is US large-cap at 86%.
Most of this portfolio is one bucket. Adding another fund from the same bucket will not change that — it mostly rearranges which wrapper holds the same companies.
Compositions above are approximate figures for each fund type, used to show the structure of the overlap. Your specific fund publishes its real holdings in its factsheet or prospectus — check there before drawing conclusions about your own portfolio.
Why funds overlap
Broad index funds are usually weighted by company size, so the largest companies take the largest share of the fund. A fund tracking the biggest US companies and a fund tracking the whole US market are not two separate bets — the second one contains the first, and because of that weighting, the largest companies dominate both.
Adding the second fund therefore changes your portfolio far less than the fund count suggests. You have added a wrapper, not an asset.
Why this is worth checking
Diversification is about owning things that do not all move together. Counting funds is a poor proxy for that. Someone holding six funds that all track large US companies is concentrated in large US companies, however many line items the account statement shows.
The useful question is not “how many funds do I have” but “how many genuinely different things do I own, and how much of the total sits in the largest one.” That is what the bars above answer.
What this tool does not do
It works at the level of fund types, using approximate compositions to show the structure of the problem. It does not read your actual holdings, and real funds differ from these approximations. Your fund publishes its true composition in its factsheet or prospectus — that document, not this page, is the authority on what you own.
It also says nothing about whether any allocation is right for you. Concentration is not automatically a mistake; it is simply something worth knowing you have chosen, rather than something to discover by accident.
Related reading: How many funds a portfolio actually needs
Educational only. This explains how these products and accounts work in general. It is not financial, tax, or legal advice, and not a recommendation to buy anything. Your situation is specific to you — check with a licensed professional before acting.