{
  "page": "compare",
  "query": {
    "a": "CWAIX",
    "b": "FSMB"
  },
  "retrieved_at": "2026-07-07T16:23:12+00:00",
  "disclaimer": "Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them.",
  "attribution": "Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC.",
  "terms": {
    "notice": "Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed.",
    "url": "https://fundwatcher.app/terms/"
  },
  "fund_a": {
    "name": "First Trust Managed Municipal Fund",
    "ticker": "CWAIX",
    "slug": "CWAIX",
    "series_id": "S000074778",
    "html_url": "https://fundwatcher.app/funds/CWAIX/"
  },
  "fund_b": {
    "name": "First Trust Short Duration Managed Municipal ETF",
    "ticker": "FSMB",
    "slug": "FSMB",
    "series_id": "S000063445",
    "html_url": "https://fundwatcher.app/funds/FSMB/"
  },
  "overlap": {
    "coverage_a_by_b": "0.02454211443872129314847180262",
    "coverage_b_by_a": "0.02454211443872129314847180262",
    "shared_count": 8,
    "as_of": {
      "a": "2026-04-30",
      "b": "2026-04-30"
    },
    "a_top": [
      {
        "name": "Kern Community College District, Series D",
        "value": "1115940.30",
        "weight": "0.02104259",
        "shared": false
      },
      {
        "name": "YONKERS NY REGD B/E BAM 5.00000000",
        "value": "1096422.00",
        "weight": "0.02067455",
        "shared": false
      },
      {
        "name": "Consolidated Municipalities Electric Power Systems Joint Powers Board",
        "value": "1093714.30",
        "weight": "0.02062349",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.50000000",
        "value": "1090505.20",
        "weight": "0.02056298",
        "shared": false
      },
      {
        "name": "Port of Portland, Series 27 A",
        "value": "1028401.87",
        "weight": "0.01939193",
        "shared": false
      },
      {
        "name": "DENVER CO ARPT 5.50% 11/15/2033",
        "value": "1024931.52",
        "weight": "0.01932650",
        "shared": false
      },
      {
        "name": "MD EDC 0% 10/1/2036 MT",
        "value": "1022819.30",
        "weight": "0.01928667",
        "shared": true
      },
      {
        "name": "New Hope Cultural Education Facilities Finance Corp., Series 2025, RB",
        "value": "1000000.00",
        "weight": "0.01885638",
        "shared": true
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "843266.92",
        "weight": "0.01590096",
        "shared": true
      },
      {
        "name": "Pennsylvania Turnpike Commission 5.00% 12/01/2039",
        "value": "821684.33",
        "weight": "0.01549399",
        "shared": false
      },
      {
        "name": "SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE",
        "value": "796154.63",
        "weight": "0.01501259",
        "shared": false
      },
      {
        "name": "SUFFOLK REGL OFF-TRACK BETTING SUFFOLK REGIONAL OFF-TRACK BETTING CORP",
        "value": "771701.78",
        "weight": "0.01455150",
        "shared": false
      },
      {
        "name": "RESTRUCTURED-SER A1",
        "value": "749566.95",
        "weight": "0.01413412",
        "shared": false
      },
      {
        "name": "MAINE ST FIN AUTH SOL WST DISP REVENUE",
        "value": "736095.01",
        "weight": "0.01388009",
        "shared": false
      },
      {
        "name": "Adams & Arapahoe Counties Joint School District 28J Aurora",
        "value": "711097.01",
        "weight": "0.01340871",
        "shared": false
      },
      {
        "name": "Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB",
        "value": "704156.60",
        "weight": "0.01327784",
        "shared": false
      },
      {
        "name": "MET WA ARPTS AUTH-A-A",
        "value": "701574.58",
        "weight": "0.01322916",
        "shared": false
      },
      {
        "name": "WHITING IN ENVRNMNTL FACS REVE REGD V/R B/E AMT 5.00000000",
        "value": "701312.92",
        "weight": "0.01322422",
        "shared": true
      },
      {
        "name": "MIDAS MOUNTAIN VETERANS PROGRA REGD B/E 5.20000000",
        "value": "686773.47",
        "weight": "0.01295006",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District (The) (Gas), Series 2022 F, RB",
        "value": "669329.66",
        "weight": "0.01262113",
        "shared": false
      },
      {
        "name": "NJ TRANSPR TRUST",
        "value": "616922.14",
        "weight": "0.01163292",
        "shared": false
      },
      {
        "name": "South Carolina Public Service Authority",
        "value": "607009.17",
        "weight": "0.01144599",
        "shared": false
      },
      {
        "name": "Louisville/Jefferson County Metropolitan Government",
        "value": "592966.00",
        "weight": "0.01118119",
        "shared": false
      },
      {
        "name": "PREREF IOWA ST FIN AUTH MIDWSTRN DISA REGD V/R B/E PREREFUNDED 12/01/32 @ 100 5.00000000",
        "value": "565924.70",
        "weight": "0.01067129",
        "shared": false
      },
      {
        "name": "Virginia Commonwealth Transportation Board",
        "value": "554595.88",
        "weight": "0.01045767",
        "shared": false
      },
      {
        "name": "Virginia Small Business Financing Authority",
        "value": "550778.15",
        "weight": "0.01038568",
        "shared": false
      },
      {
        "name": "JEA Electric System Revenue",
        "value": "547171.86",
        "weight": "0.01031768",
        "shared": false
      },
      {
        "name": "NH HLTH EDU FACS-REF",
        "value": "547042.00",
        "weight": "0.01031523",
        "shared": false
      },
      {
        "name": "NEW YORK NY REGD B/E 5.25000000",
        "value": "546507.65",
        "weight": "0.01030515",
        "shared": false
      },
      {
        "name": "CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS",
        "value": "545875.55",
        "weight": "0.01029324",
        "shared": false
      },
      {
        "name": "Metropolitan Nashville Airport Authority (The), Series B",
        "value": "545704.65",
        "weight": "0.01029001",
        "shared": false
      },
      {
        "name": "WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE",
        "value": "545439.65",
        "weight": "0.01028502",
        "shared": false
      },
      {
        "name": "Columbus Regional Airport Authority, Series 2025 A",
        "value": "541516.95",
        "weight": "0.01021105",
        "shared": false
      },
      {
        "name": "Newark Higher Education Finance Corp.",
        "value": "541264.75",
        "weight": "0.01020629",
        "shared": false
      },
      {
        "name": "Pennsylvania Economic Development Financing Authority",
        "value": "541256.45",
        "weight": "0.01020614",
        "shared": false
      },
      {
        "name": "CA CASFIN 5.5 09/01/2056",
        "value": "537607.75",
        "weight": "0.01013733",
        "shared": false
      },
      {
        "name": "Florida Development Finance Corp",
        "value": "533176.90",
        "weight": "0.01005378",
        "shared": false
      },
      {
        "name": "NM MUNI ENERGY ACQ AU",
        "value": "531704.80",
        "weight": "0.01002603",
        "shared": true
      },
      {
        "name": "State of Illinois, Series 2020",
        "value": "531034.70",
        "weight": "0.01001339",
        "shared": false
      },
      {
        "name": "JACKSONVILLE STATE UNIVERSITY BAM 5.125% 08-01-44",
        "value": "529471.70",
        "weight": "0.00998392",
        "shared": false
      },
      {
        "name": "INDIANA ST FIN AUTH ENVRNMNTL REVENUE",
        "value": "528736.79",
        "weight": "0.00997006",
        "shared": true
      },
      {
        "name": "SOUTHEAST ENRG 5% MT",
        "value": "527505.20",
        "weight": "0.00994684",
        "shared": false
      },
      {
        "name": "Idaho Health Facilities Authority",
        "value": "527123.60",
        "weight": "0.00993964",
        "shared": false
      },
      {
        "name": "STATE OF NEW JERSEY 5.0% 12-15-39",
        "value": "524127.90",
        "weight": "0.00988315",
        "shared": false
      },
      {
        "name": "BLACK BELT ENERGY GAS VAR",
        "value": "524013.25",
        "weight": "0.00988099",
        "shared": true
      },
      {
        "name": "Lakewood Ranch Stewardship District Utility Revenue",
        "value": "523171.60",
        "weight": "0.00986512",
        "shared": false
      },
      {
        "name": "Charlotte (County of), FL Industrial Development Authority (Town & Country Utilities), Series 2025, RB",
        "value": "523073.80",
        "weight": "0.00986328",
        "shared": false
      },
      {
        "name": "MAXATAWNY TWP P 5% 1/1/2041",
        "value": "512853.95",
        "weight": "0.00967057",
        "shared": false
      },
      {
        "name": "Union County Hospital Facility Authority",
        "value": "510841.60",
        "weight": "0.00963262",
        "shared": false
      },
      {
        "name": "State of Hawaii, Series 2018 A",
        "value": "509057.60",
        "weight": "0.00959898",
        "shared": false
      }
    ],
    "b_top": [
      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C",
        "value": "6372370.20",
        "weight": "0.01078087",
        "shared": false
      },
      {
        "name": "County of Utah UT",
        "value": "5000000.00",
        "weight": "0.00845907",
        "shared": false
      },
      {
        "name": "OH OHSDEV 11/01/2039",
        "value": "4805848.92",
        "weight": "0.00813060",
        "shared": false
      },
      {
        "name": "Wisconsin (State of) Public Finance Authority (Duke Energy Progress), Series 2022, Ref. RB",
        "value": "4281206.10",
        "weight": "0.00724301",
        "shared": false
      },
      {
        "name": "St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB",
        "value": "4026151.60",
        "weight": "0.00681150",
        "shared": false
      },
      {
        "name": "Main Street Energy, Inc., Series D",
        "value": "3895478.03",
        "weight": "0.00659043",
        "shared": false
      },
      {
        "name": "Palm Beach (County of), FL Health Facilities Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB",
        "value": "3743929.08",
        "weight": "0.00633403",
        "shared": false
      },
      {
        "name": "NYC MUNI WTR FIN-BB",
        "value": "3500000.00",
        "weight": "0.00592135",
        "shared": false
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A",
        "value": "3481712.58",
        "weight": "0.00589041",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District",
        "value": "3440432.23",
        "weight": "0.00582057",
        "shared": false
      },
      {
        "name": "BLACK BELT ENERGY GAS VAR",
        "value": "3420591.24",
        "weight": "0.00578701",
        "shared": false
      },
      {
        "name": "NM MUNI ENERGY ACQ AU",
        "value": "3381642.53",
        "weight": "0.00572111",
        "shared": true
      },
      {
        "name": "NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE",
        "value": "3143053.75",
        "weight": "0.00531746",
        "shared": false
      },
      {
        "name": "LOS ANGELES CA DEPT OF ARPTS A REGD B/E AMT 5.00000000",
        "value": "3142415.10",
        "weight": "0.00531638",
        "shared": false
      },
      {
        "name": "ALLEGHENY HOSP DEV-A",
        "value": "3092031.90",
        "weight": "0.00523114",
        "shared": false
      },
      {
        "name": "WHITING IN ENVRNMNTL FACS REVE REGD V/R B/E AMT 5.00000000",
        "value": "3075758.09",
        "weight": "0.00520361",
        "shared": true
      },
      {
        "name": "MD CMNTY DEV-D-2",
        "value": "3035471.70",
        "weight": "0.00513545",
        "shared": false
      },
      {
        "name": "UNITED AIRLINES INC 4.0% 07-15-29",
        "value": "3018532.20",
        "weight": "0.00510680",
        "shared": false
      },
      {
        "name": "WASTE MANAGEMENT INC (MPT) 3.45% 11-01-44",
        "value": "3000298.80",
        "weight": "0.00507595",
        "shared": false
      },
      {
        "name": "NEW YORK NY REGD V/R B/E 2.65000000",
        "value": "3000000.00",
        "weight": "0.00507544",
        "shared": false
      },
      {
        "name": "NORTH CAROLINA ST HSG FIN AGYM REGD V/R B/E 5.00000000",
        "value": "2906436.68",
        "weight": "0.00491715",
        "shared": false
      },
      {
        "name": "TX TMGUTL 01/01/2054",
        "value": "2845828.47",
        "weight": "0.00481461",
        "shared": false
      },
      {
        "name": "FARM N MEX PCR 0% 6/1/2040 MT",
        "value": "2815916.35",
        "weight": "0.00476401",
        "shared": false
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B",
        "value": "2731069.46",
        "weight": "0.00462046",
        "shared": false
      },
      {
        "name": "DFW ARPT 5% 11/1/2031 @",
        "value": "2725976.00",
        "weight": "0.00461185",
        "shared": false
      },
      {
        "name": "FLORIDA DEV FIN CORP HLTHCAREFACS REVENUE",
        "value": "2707992.75",
        "weight": "0.00458142",
        "shared": false
      },
      {
        "name": "City of Atlanta GA Department of Aviation",
        "value": "2697235.25",
        "weight": "0.00456322",
        "shared": false
      },
      {
        "name": "TN TNSUTL 05/01/2053",
        "value": "2573669.50",
        "weight": "0.00435417",
        "shared": false
      },
      {
        "name": "City of Philadelphia PA Airport Revenue",
        "value": "2566634.16",
        "weight": "0.00434227",
        "shared": false
      },
      {
        "name": "FAIRFAX C VA 5% 1/1/2045 MT",
        "value": "2555159.50",
        "weight": "0.00432286",
        "shared": false
      },
      {
        "name": "WASTE MANAGEMENT INC (MPT) 3.45% 10-01-41",
        "value": "2515175.25",
        "weight": "0.00425521",
        "shared": false
      },
      {
        "name": "NORTH BLOCK ASSOCIATES LLC HUD SECT 8 FHA 221(D)(4) (MPT) 3.4% 02-01-29",
        "value": "2511564.25",
        "weight": "0.00424910",
        "shared": false
      },
      {
        "name": "COUNTY OF TRIMBLE KY TRMENV 06/33 FIXED 3.75",
        "value": "2502465.75",
        "weight": "0.00423371",
        "shared": false
      },
      {
        "name": "ARKANSAS DEV FIN AUTH ENVIRONM REGD V/R B/E AMT 4.00000000",
        "value": "2495967.00",
        "weight": "0.00422271",
        "shared": false
      },
      {
        "name": "MOBILE PCR-VAR-AL PWR",
        "value": "2478086.00",
        "weight": "0.00419246",
        "shared": false
      },
      {
        "name": "MTRO WA DC ARPT 5% 10/1/2031 @",
        "value": "2455847.33",
        "weight": "0.00415484",
        "shared": false
      },
      {
        "name": "LEHIGH PA_IDA 3% 9/1/2029",
        "value": "2450784.00",
        "weight": "0.00414627",
        "shared": false
      },
      {
        "name": "INDIANAPOLIS IN LOCAL PUBLIC I REGD N/C B/E AMT 5.00000000",
        "value": "2438325.30",
        "weight": "0.00412519",
        "shared": false
      },
      {
        "name": "State of Illinois, Series C",
        "value": "2437731.08",
        "weight": "0.00412419",
        "shared": false
      },
      {
        "name": "NORTHWESTERN CORP 3.875% 07-01-28",
        "value": "2431955.57",
        "weight": "0.00411442",
        "shared": false
      },
      {
        "name": "HOUSTON-UTL SYS-B-REF",
        "value": "2424190.04",
        "weight": "0.00410128",
        "shared": false
      },
      {
        "name": "DE ST EDA 3.60% 1/1/31",
        "value": "2419505.95",
        "weight": "0.00409335",
        "shared": false
      },
      {
        "name": "PEFA INC VAR",
        "value": "2408907.05",
        "weight": "0.00407542",
        "shared": false
      },
      {
        "name": "TENNERGY CORP TN GAS REVENUE TENNERGY CORP/TN",
        "value": "2384879.46",
        "weight": "0.00403477",
        "shared": false
      },
      {
        "name": "NY TRANS CORP 5% 1/1/2032 @",
        "value": "2370014.59",
        "weight": "0.00400962",
        "shared": false
      },
      {
        "name": "SOUTHEAST ENERGY-F",
        "value": "2355034.34",
        "weight": "0.00398428",
        "shared": false
      },
      {
        "name": "SOUTHEAST ENERGY AUTH VAR",
        "value": "2342301.03",
        "weight": "0.00396274",
        "shared": false
      },
      {
        "name": "South Carolina Jobs-Economic Development Authority, Series 2023A",
        "value": "2313365.26",
        "weight": "0.00391378",
        "shared": false
      },
      {
        "name": "MTRO WA DC ARPT 5% 10/1/2035 @",
        "value": "2304524.08",
        "weight": "0.00389883",
        "shared": false
      },
      {
        "name": "NYC HSG DEV CORP-F-2A",
        "value": "2260772.92",
        "weight": "0.00382481",
        "shared": false
      }
    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0000940400-26-024894",
      "as_of": "2026-04-30",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1497778/000094040026024894/0000940400-26-024894-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0000940400-26-025147",
      "as_of": "2026-04-30",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1424212/000094040026025147/0000940400-26-025147-index.htm"
    }
  ]
}