SBI CONTRA FUND vs ICICI Prudential India Opportunities Fund
Detailed stock-level portfolio comparison and mutual fund overlap analysis.
Real-World Rupee Impact: What 27.7% Overlap Means for Your Wealth
If you invest an equal ₹1,00,000 portfolio base across both schemes (₹50,000 in SBI and ₹50,000 in ICICI):
The Portfolio Verdict: Should You Hold Both?
SBI Contra and ICICI Prudential India Opportunities share ~28% overlap. Both focus on unloved, out-of-favour companies undergoing turnaround. SBI Contra takes an expansive, multi-sector contrarian view, while ICICI Opportunities focuses intensely on regulatory, corporate, and cyclical special situations. Holding both adds unnecessary overlap within a satellite contrarian allocation.
How Is This 27.7% Overlap Calculated?
Rather than merely matching stock names, our quantitative engine measures the minimum common portfolio weight for every security intersecting across both statutory AMFI disclosures:
Worked Example with HDFC Bank Ltd.:
SBI allocates 4.79% and ICICI allocates 9.00%. Your guaranteed common, duplicated exposure to HDFC Bank Ltd. is . Repeating this calculation across all 22 common stocks and summing their minimum common weights produces your exact 27.7% portfolio overlap.
4-Point Audit Checklist: Choosing Between These Two Funds
Category Mandate & Style
Overlap is moderate to low (27.7%). They can comfortably coexist in a portfolio if their market-cap orientation or investing styles (value vs growth) remain complementary.
Expense Ratio (Fee Drag)
SBI charges 0.87% vs ICICI at 0.92%. Over 10–15 years, a 0.20%+ fee difference compounds into lakhs of rupees in net corpus disparity.
Sector & Single-Stock Concentration
Check the combined sector weights below. If both funds heavily tilt toward the same sector (e.g. Banking or Tech), your portfolio is taking on concentrated cyclical risk.
Portfolio Rebalancing Action
Both schemes can be retained if they fit your asset allocation, but ensure your overall portfolio stays capped at 4 to 6 total mutual funds.
Scheme Profile Comparison
| Metric | SBI CONTRA FUND | ICICI Prudential India Opportunities Fund |
|---|---|---|
| Fund House / AMC | SBI Mutual Fund | ICICI Prudential Mutual Fund |
| AMFI Direct Scheme Code | 119835 | 145897 |
| Total Equity Holdings | 87 stocks | 68 stocks |
| Expense Ratio (TER) | 0.87% | 0.92% |
| Disclosure Filing Date | Sep 30, 2026 | Sep 30, 2026 |
Top Overlapping Holdings
Companies held simultaneously by both schemes, ranked by cumulative portfolio overlap weight.
| Company Name | Sector | Weight in SBI | Weight in ICICI | Overlap Exposuremin(WA, WB) |
|---|---|---|---|---|
HDFC Bank Ltd.INE040A01034 | Banks | 4.79% | 9.00% | 4.79% |
ICICI Bank Ltd.INE090A01021 | Banks | 4.36% | 5.61% | 4.36% |
Reliance Industries Ltd.INE002A01018 | Petroleum Products | 4.67% | 3.45% | 3.45% |
Kotak Mahindra Bank Ltd.INE237A01036 | Banks | 3.15% | 1.87% | 1.87% |
Axis Bank Ltd.INE238A01034 | Banks | 1.33% | 5.12% | 1.33% |
Bharti Airtel Ltd.INE397D01024 | Telecom - Services | 1.23% | 2.98% | 1.23% |
Tata Motors Ltd.INE1TAE01010 | Agricultural, Commercial & Construction Vehicles | 1.16% | 2.30% | 1.16% |
UPL Ltd.INE628A01036 | Fertilizers & Agrochemicals | 1.05% | 1.24% | 1.05% |
Looking for all 22 overlapping holdings?
This curated snapshot highlights the top 8 common stocks. Use our free, interactive Mutual Fund Overlap Calculator to inspect all common holdings, calculate your Effective Number of Stocks (ENS), and simulate custom rupee allocations (₹ or %).
Sector Allocation Breakdown
How both schemes allocate capital across key Indian economic sectors.
| Sector | SBI (%) | ICICI (%) | Combined Weight (%) |
|---|---|---|---|
| Banks | 20.2% | 22.2% | 42.4% |
| Insurance | 1.6% | 13.0% | 14.7% |
| Pharmaceuticals & Biotechnology | 6.7% | 6.2% | 12.9% |
| Petroleum Products | 5.8% | 4.5% | 10.2% |
| Retailing | 2.6% | 7.0% | 9.6% |
| Telecom - Services | 3.9% | 4.0% | 7.9% |
Frequently Asked Questions
What is the stock overlap between SBI CONTRA FUND and ICICI Prudential India Opportunities Fund?
Based on statutory AMFI monthly disclosures as of Sep 30, 2026, the portfolio overlap betweenSBI CONTRA FUND and ICICI Prudential India Opportunities Fund is 27.7%. They hold 22 stocks in common.
Can I invest in both SBI CONTRA FUND and ICICI Prudential India Opportunities Fund simultaneously?
SBI Contra and ICICI Prudential India Opportunities share ~28% overlap. Both focus on unloved, out-of-favour companies undergoing turnaround. SBI Contra takes an expansive, multi-sector contrarian view, while ICICI Opportunities focuses intensely on regulatory, corporate, and cyclical special situations. Holding both adds unnecessary overlap within a satellite contrarian allocation.
Which fund has a lower expense ratio?
SBI CONTRA FUND charges a Total Expense Ratio (TER) of 0.87% (Direct Plan), whileICICI Prudential India Opportunities Fund charges 0.92% (Direct Plan).SBI CONTRA FUND is currently more cost-effective by 0.05%.
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