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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

UTI Nifty50 Equal Weight IndexAxis Nifty 50 Index
UTI Nifty50 Equal Weight Index
itself
66%
Axis Nifty 50 Index
66%
itself

Most alike: UTI Nifty50 Equal Weight Index Fund and Axis Nifty 50 Index Fund share 66% of their portfolios. Holding both is closer to holding one twice than to diversifying.

Side by side

record, cost, returns, drawdown, size

MeasureUTI Nifty50 Equal Weight IndexAxis Nifty 50 Index
CategoryEquity FundsEquity Funds
Share of three-year stretches it beat its category P425% of 40% of 22
Regular plan costs more than Direct by, a year P50.50%0.31%
Portfolio turned over a year P141%32%
Run by P7Ayush Jain · 3.3 yrsnot known
1-year return−0.4%−6.2%
3 years p.a.11.2%6.9%
5 years p.a.——
Deepest fall (max drawdown)−18.1%−15.4%
Assets (AUM)₹150 Cr₹968 Cr
Disclosed history3.3 yrs4.5 yrs
Holdings · top ten weight51 · 23%52 · 53%

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.