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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

HDFC OvernightAxis Overnight
HDFC Overnight
itself
2%
Axis Overnight
2%
itself

Most alike: HDFC Overnight Fund and Axis Overnight Fund share 2% 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

MeasureHDFC OvernightAxis Overnight
CategoryOvernightOvernight
Share of three-year stretches it beat its category P410% of 109100% of 55
Regular plan costs more than Direct by, a year P50.13%0.05%
Portfolio turned over a year P1not measurednot measured
Run by P7not knownnot known
1-year return5.2%5.3%
3 years p.a.6.0%6.1%
5 years p.a.5.7%5.8%
Deepest fall (max drawdown)0.0%0.0%
Assets (AUM)₹12,604 Cr₹12,334 Cr
Disclosed history2.3 yrs5.9 yrs
Holdings · top ten weight9 · 100%9 · 100%

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.