Fund overlap and benchmark data by API, for advisors

Two questions every review asks

When an advisor reviews a client's mutual funds, two questions come up almost every time. Do these funds own the same stocks? And has each fund earned its fee against its index? Both can be answered on the site: the overlap tool for the first, each fund page's benchmark section for the second. With a book of clients, though, clicking through each fund doesn't scale.

The WealthTicker API's Pro plan returns both as JSON. This post walks through each endpoint on one fund, Parag Parikh Flexi Cap Fund, Direct Growth (code 122639), with data to 2 November 2026.

Benchmark: did the fund earn its fee?

curl -H "X-Api-Key: $WT_KEY" https://wealthticker.in/api/v1/funds/122639/benchmark

The response names the benchmark ("Nifty 500 TRI") and returns two arrays: trailing, by period, and calendarYears, each with fund, benchmark and excess.

By calendar year, the record was far less even than the trailing figures suggest:

A ten-year lead of nearly four points a year came with a 2022 that trailed the index by more than ten. A client who bought in late 2021 and saw only that year would have judged the fund very differently. The calendar view is the one to put in front of a client, because it shows the spread of outcomes a single CAGR hides.

The benchmark is a total-return index in rupees, with dividends reinvested, because a growth-option NAV reinvests them too. Measuring a fund against the price index flatters it by roughly the index's dividend yield every year.

The response also carries a ratios block: here alpha 3.03, beta 0.60, plus R², tracking error, information ratio and up/down capture. A beta of 0.60 says the fund moved much less than the Nifty 500 did, and its annualised volatility was 9.87%.

Overlap: do the client's funds own the same stocks?

curl -H "X-Api-Key: $WT_KEY" https://wealthticker.in/api/v1/funds/122639/overlap

This returns the funds whose equity portfolios most resemble this one's, from the AMCs' monthly disclosures, each with an overlapPct. For Parag Parikh Flexi Cap the closest were:

The top match is the expected one: the same fund house's tax-saver, run with the same stock-picking approach, shares three-quarters of the portfolio. A client holding both for the tax deduction is mostly buying the same stocks twice. That isn't necessarily wrong, but it's worth saying out loud.

The two equal-weight index funds are the more useful finding. They show how far a "go anywhere" flexi cap fund's Indian book sits close to a handful of the largest companies. Checking overlap between the funds you hold explains how to read these percentages and what level is worth acting on.

Running it across a book

The value of the API is doing this for every client at once:

1. Store each client's holdings as scheme codes.
2. For each unique code, call /benchmark and /overlap once a month. Funds repeat across clients, so a book of 200 clients usually means a few dozen distinct funds.
3. Flag funds whose excess return over three and five years has turned negative, and client portfolios where any two holdings overlap by more than half.

A related Pro endpoint, /funds/{code}/portfolio-stats, returns the holdings themselves (stock, sector, weight) for a client-ready breakdown.

Plans

The overlap, benchmark and portfolio-stats endpoints are on Pro: ₹2,999 a month or ₹31,499 a year, 50,000 requests a day. Pro also includes everything in Starter: full NAV history and the fund-house endpoints. The data is not advice. Returns are computed from AMFI NAVs by the method on the methodology page, and holdings are as the AMCs disclosed them. Sample responses for every endpoint are on the developers page.