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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

Union MulticapNippon India Multi Cap
Union Multicap
itself
21%
Nippon India Multi Cap
21%
itself

Most alike: Union Multicap Fund and Nippon India Multi Cap Fund share 21% 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

MeasureUnion MulticapNippon India Multi Cap
CategoryMulti CapMulti Cap
Share of three-year stretches it beat its category P480% of 1050% of 109
Regular plan costs more than Direct by, a year P51.46%0.84%
Portfolio turned over a year P1151%66%
Run by P7Sanjay Bembalkar · 3.8 yrsSailesh Raj Bhan · 21 yrs
1-year return9.2%−1.4%
3 years p.a.15.3%13.5%
5 years p.a.16.4%
Deepest fall (max drawdown)−19.8%−18.6%
Assets (AUM)₹1,441 Cr₹53,760 Cr
Disclosed history2.2 yrs14 yrs
Holdings · top ten weight77 · 28%123 · 29%

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.