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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

Franklin India Income Opportunities Fund (no. of segregated portfolios- 2)Union Medium Duration
Franklin India Income Opportunities Fund (no. of segregated portfolios- 2)
itself
0%
Union Medium Duration
0%
itself

Most alike: Franklin India Income Opportunities Fund (no. of segregated portfolios- 2) and Union Medium Duration Fund share 0% 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

MeasureFranklin India Income Opportunities Fund (no. of segregated portfolios- 2)Union Medium Duration
CategoryMedium DurationMedium Duration
Share of three-year stretches it beat its category P448% of 52not measured
Regular plan costs more than Direct by, a year P50.76%0.31%
Portfolio turned over a year P1not measurednot measured
Run by P7not knownAnindya Sarkar · 4.4 yrs
1-year return15.5%8.0%
3 years p.a.5.5%5.7%
5 years p.a.6.7%—
Deepest fall (max drawdown)not computed−0.5%
Assets (AUM)₹0 Cr₹25 Cr
Disclosed history9.7 yrs7 mo
Holdings · top ten weight1 · 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.