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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

Mahindra Manulife Multi Asset AllocationUTI Multi Asset Allocation
Mahindra Manulife Multi Asset Allocation
itself
20%
UTI Multi Asset Allocation
20%
itself

Most alike: Mahindra Manulife Multi Asset Allocation Fund and UTI Multi Asset Allocation Fund share 20% 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

MeasureMahindra Manulife Multi Asset AllocationUTI Multi Asset Allocation
CategoryMulti Asset AllocationMulti Asset Allocation
Share of three-year stretches it beat its category P4not measured30% of 109
Regular plan costs more than Direct by, a year P51.80%0.95%
Portfolio turned over a year P141%59%
Run by P7Rahul Pal · 2.5 yrsSharwan Kumar Goyal · 4.8 yrs
1-year return12.3%4.0%
3 years p.a.—15.3%
5 years p.a.—13.3%
Deepest fall (max drawdown)−9.5%−11.0%
Assets (AUM)₹1,224 Cr₹6,957 Cr
Disclosed history2.5 yrs9.7 yrs
Holdings · top ten weight85 · 38%134 · 38%

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.