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Up to six funds side by side, and how much of each is the same portfolio as the others. Overlap is Σ min(weight) over the stocks both hold, from the latest disclosures.

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Overlap

share of the portfolio the two funds hold in common

LIC MF Conservative HybridSBI CONSERVATIVE HYBRID
LIC MF Conservative Hybrid
itself
1%
SBI CONSERVATIVE HYBRID
1%
itself

Most alike: LIC MF Conservative Hybrid Fund and SBI CONSERVATIVE HYBRID FUND share 1% of their portfolios. Two funds this different are doing different things; whether that is what you want is a separate question.

Side by side

record, cost, returns, drawdown, size

MeasureLIC MF Conservative HybridSBI CONSERVATIVE HYBRID
CategoryConservative HybridConservative Hybrid
Share of three-year stretches it beat its category P49% of 10975% of 109
Regular plan costs more than Direct by, a year P50.93%0.75%
Portfolio turned over a year P122%23%
Run by P7Pratik Shroff · ≥ 7 moMansi Sajeja · ≥ 3 mo
1-year return3.9%5.0%
3 years p.a.6.6%8.4%
5 years p.a.5.7%8.7%
Deepest fall (max drawdown)−3.1%−3.0%
Assets (AUM)₹47 Cr₹10,210 Cr
Disclosed history10 yrs5.8 yrs
Holdings · top ten weight33 · 83%110 · 27%

Funds in different categories are not comparable on returns — a category error is the first thing the postulates refuse to make. Compare each to its own category on its fund page.