{
  "page": "compare",
  "query": {
    "a": "FSMUX",
    "b": "SHMMX"
  },
  "retrieved_at": "2026-07-07T16:39:58+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": "Strategic Advisers Municipal Bond Fund",
    "ticker": "FSMUX",
    "slug": "FSMUX",
    "series_id": "S000072234",
    "html_url": "https://fundwatcher.app/funds/FSMUX/"
  },
  "fund_b": {
    "name": "Western Asset Managed Municipals Fund",
    "ticker": "SHMMX",
    "slug": "SHMMX",
    "series_id": "S000016628",
    "html_url": "https://fundwatcher.app/funds/SHMMX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.09664567078707311386220531377",
    "coverage_b_by_a": "0.09664567078707311386220531378",
    "shared_count": 576,
    "as_of": {
      "a": "2026-02-28",
      "b": "2026-02-27"
    },
    "a_top": [
      {
        "name": "Allspring Municipal Bond Admin",
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        "weight": "0.06200385",
        "shared": false
      },
      {
        "name": "Vanguard Long-Term Tax-Exempt Adm",
        "value": "694526934.51",
        "weight": "0.04977583",
        "shared": false
      },
      {
        "name": "Franklin Federal Tax Free Income R6",
        "value": "656439810.79",
        "weight": "0.04704618",
        "shared": false
      },
      {
        "name": "MONEY MARKET FUND",
        "value": "482309091.20",
        "weight": "0.03456646",
        "shared": false
      },
      {
        "name": "ISHARES NATIONAL MUNI BOND ETF ISHARES NATIONAL MUNI BOND E",
        "value": "322880269.60",
        "weight": "0.02314040",
        "shared": false
      },
      {
        "name": "VANGUARD TAX-EXM",
        "value": "310440040.35",
        "weight": "0.02224883",
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      },
      {
        "name": "DWS Managed Municipal Bond S",
        "value": "306113111.12",
        "weight": "0.02193872",
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      },
      {
        "name": "FIDELITY SAI ENHANCED MUNICIPAL INCOME FUND",
        "value": "259260993.15",
        "weight": "0.01858089",
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      },
      {
        "name": "BlackRock National Municipal Inv A",
        "value": "259004967.65",
        "weight": "0.01856254",
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      },
      {
        "name": "Eaton Vance National Municipal Income I",
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      {
        "name": "American High-Income Municipal Bond F-2",
        "value": "155640780.16",
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      },
      {
        "name": "Fidelity Municipal Cash Central Fund",
        "value": "80023976.23",
        "weight": "0.00573521",
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      },
      {
        "name": "Invesco Government & Agency Portfolio, Institutional Class",
        "value": "40242334.91",
        "weight": "0.00288412",
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      {
        "name": "MAIN STR NAT GA 4% 07/01/2052 MT",
        "value": "37437239.06",
        "weight": "0.00268308",
        "shared": false
      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000",
        "value": "33883883.53",
        "weight": "0.00242841",
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      },
      {
        "name": "OH BUCGEN 5 06/01/2055",
        "value": "32929474.32",
        "weight": "0.00236001",
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      },
      {
        "name": "SOUTHEAST ENERGY-E",
        "value": "31490389.35",
        "weight": "0.00225687",
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      {
        "name": "TN TNSUTL 5 12/01/2035",
        "value": "28499240.13",
        "weight": "0.00204250",
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      {
        "name": "Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C",
        "value": "20993906.34",
        "weight": "0.00150461",
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      },
      {
        "name": "California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB",
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      {
        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
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      {
        "name": "CHICAGO ILLIN 6% 4/1/2046",
        "value": "18890444.64",
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      {
        "name": "MUNIBOND",
        "value": "18270368.41",
        "weight": "0.00130941",
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      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000",
        "value": "18207752.42",
        "weight": "0.00130493",
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      },
      {
        "name": "MAIN STR NAT GA(RCC) 5% 9/1/30MT 53",
        "value": "16523209.13",
        "weight": "0.00118420",
        "shared": true
      },
      {
        "name": "TX TTFTRN 5.5 10/01/2055",
        "value": "16370516.04",
        "weight": "0.00117325",
        "shared": false
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      {
        "name": "TN TNSUTL 5 11/01/2034",
        "value": "16071892.68",
        "weight": "0.00115185",
        "shared": false
      },
      {
        "name": "NY TRANS CORP(JFK INT NEW ONE)/AGM 5.13% 6/30/60@",
        "value": "15961418.43",
        "weight": "0.00114393",
        "shared": true
      },
      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C",
        "value": "15885729.16",
        "weight": "0.00113851",
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      {
        "name": "NEW YORK ST URBAN DEV CORP SALES TAX REVENUE",
        "value": "15696810.00",
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      {
        "name": "NY NYEFAC 07/01/2056",
        "value": "15553968.75",
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      {
        "name": "San Francisco City & County Airport Comm-San Francisco International Airport",
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      {
        "name": "LOWER AL GAS DT-A-REF",
        "value": "15111818.57",
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      {
        "name": "State of Illinois, Series D",
        "value": "15006124.16",
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      {
        "name": "TOBACCO SETTLEMENT FING CORP N TOBGEN 06/46 FIXED 5",
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      {
        "name": "WI PUBTRN 5.75 12/31/2065",
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      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000",
        "value": "14489270.33",
        "weight": "0.00103843",
        "shared": true
      },
      {
        "name": "STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 06-15-52",
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      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.75000000",
        "value": "14373169.96",
        "weight": "0.00103011",
        "shared": true
      },
      {
        "name": "Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022",
        "value": "14359374.05",
        "weight": "0.00102912",
        "shared": true
      },
      {
        "name": "MAIN STR NAT GA 4% 9/1/2052",
        "value": "14357702.49",
        "weight": "0.00102900",
        "shared": false
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      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B",
        "value": "14355131.65",
        "weight": "0.00102881",
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      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "14222939.55",
        "weight": "0.00101934",
        "shared": false
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      {
        "name": "Black Belt Energy Gas District, Series D-1",
        "value": "14178203.36",
        "weight": "0.00101613",
        "shared": true
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      {
        "name": "TX TXSUTL 01/01/2055",
        "value": "13568832.68",
        "weight": "0.00097246",
        "shared": false
      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000",
        "value": "13388709.79",
        "weight": "0.00095955",
        "shared": true
      },
      {
        "name": "NEW YORK ST DO 5% 3/15/2041",
        "value": "13335564.04",
        "weight": "0.00095574",
        "shared": false
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "13108509.88",
        "weight": "0.00093947",
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      },
      {
        "name": "California Community Choice Financing Authority, Series 2025G",
        "value": "13063507.04",
        "weight": "0.00093624",
        "shared": true
      },
      {
        "name": "NY TRNSPRTN DEV CRP-A",
        "value": "13029440.89",
        "weight": "0.00093380",
        "shared": false
      }
    ],
    "b_top": [
      {
        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
        "value": "36436518.82",
        "weight": "0.01443099",
        "shared": true
      },
      {
        "name": "STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-48",
        "value": "31500795.00",
        "weight": "0.01247616",
        "shared": false
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "30665667.20",
        "weight": "0.01214540",
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      },
      {
        "name": "State of Illinois, Series D",
        "value": "30544431.33",
        "weight": "0.01209738",
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      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "27363445.00",
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      },
      {
        "name": "NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE",
        "value": "25323787.50",
        "weight": "0.01002970",
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      },
      {
        "name": "NY ST DORM DASNY PIT 20A 4.0% 03-15-45",
        "value": "24337725.00",
        "weight": "0.00963916",
        "shared": false
      },
      {
        "name": "NYC TRANSITIONAL -C-1",
        "value": "24065403.70",
        "weight": "0.00953131",
        "shared": true
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000",
        "value": "22692850.18",
        "weight": "0.00898770",
        "shared": true
      },
      {
        "name": "NY TRANS CORP 5% 7/1/46 @",
        "value": "22388887.10",
        "weight": "0.00886731",
        "shared": true
      },
      {
        "name": "MSR Energy Authority, Series B",
        "value": "21889121.22",
        "weight": "0.00866937",
        "shared": true
      },
      {
        "name": "TRIBOROUGH NY BRIDGE & TUNNEL REGD B/E 5.00000000",
        "value": "19116390.78",
        "weight": "0.00757121",
        "shared": true
      },
      {
        "name": "NASHVILLE& DAVIDSON-C",
        "value": "18314166.28",
        "weight": "0.00725348",
        "shared": false
      },
      {
        "name": "NY NYCUTL 5.25 06/15/2052",
        "value": "17972985.40",
        "weight": "0.00711835",
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      },
      {
        "name": "NY TRANS CORP(JFK INT NEW ONE)/AGM 5.13% 6/30/60@",
        "value": "17925346.93",
        "weight": "0.00709949",
        "shared": true
      },
      {
        "name": "ILL ST TOLL 5% 1/1/2042",
        "value": "17631754.28",
        "weight": "0.00698321",
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      },
      {
        "name": "NY TRANS CORP 5.375% 6/30/2060 @",
        "value": "17574548.25",
        "weight": "0.00696055",
        "shared": true
      },
      {
        "name": "NOVANT HEALTH OBLIGATED GROUP 5.0% 12-01-35",
        "value": "17489092.64",
        "weight": "0.00692670",
        "shared": true
      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000",
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        "weight": "0.00661068",
        "shared": true
      },
      {
        "name": "NYC WTR 4% 6/15/2051",
        "value": "16223440.90",
        "weight": "0.00642543",
        "shared": true
      },
      {
        "name": "CHICAGO IL BRD OF EDU REGD B/E 5.00000000",
        "value": "16171706.04",
        "weight": "0.00640494",
        "shared": false
      },
      {
        "name": "NY TRANS CORP 5% 7/1/41 @",
        "value": "16135275.31",
        "weight": "0.00639051",
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      },
      {
        "name": "BAY AREA TOLL-VAR A",
        "value": "15520459.83",
        "weight": "0.00614701",
        "shared": true
      },
      {
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        "value": "15401575.00",
        "weight": "0.00609992",
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      {
        "name": "CALIFORNIA ST MUNI FIN AUTH REVENUE",
        "value": "15273050.95",
        "weight": "0.00604902",
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      {
        "name": "FL BROAPT 5 10/01/2045",
        "value": "15007713.00",
        "weight": "0.00594393",
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      },
      {
        "name": "NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-55",
        "value": "14790667.23",
        "weight": "0.00585797",
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      },
      {
        "name": "NY MTA DED 4% 11/15/2054",
        "value": "14721286.89",
        "weight": "0.00583049",
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      },
      {
        "name": "NV CLA 5 05/01/2048",
        "value": "14101160.81",
        "weight": "0.00558488",
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      },
      {
        "name": "STATE OF NEW JERSEY 5.0% 06-15-42",
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        "weight": "0.00525348",
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      },
      {
        "name": "STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 4.0% 02-15-40",
        "value": "12989308.35",
        "weight": "0.00514453",
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      },
      {
        "name": "RESTRUCTURED-SER A1",
        "value": "12836988.37",
        "weight": "0.00508420",
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      {
        "name": "STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 06-15-50",
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        "weight": "0.00507309",
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      },
      {
        "name": "NYC MUNI WTR FIN-AA-3",
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        "weight": "0.00488292",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "12168583.42",
        "weight": "0.00481947",
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      },
      {
        "name": "Chandler Industrial Development Authority, Series 2019",
        "value": "11937115.72",
        "weight": "0.00472780",
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      },
      {
        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
        "value": "11796346.20",
        "weight": "0.00467204",
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      },
      {
        "name": "NJ TRANSPRTN TRUST-CC",
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      },
      {
        "name": "LANCASTER H AUT 5% 11/1/2046",
        "value": "11611028.68",
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      },
      {
        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
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      {
        "name": "NY TRANS CORP 5% 1/1/2032 @",
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        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
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      },
      {
        "name": "NYC TRANSITIONAL FIN",
        "value": "10941080.40",
        "weight": "0.00433331",
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      },
      {
        "name": "NYC TRANS FIN-F1",
        "value": "10768638.20",
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      {
        "name": "California Community Choice Financing Authority, Series B-1",
        "value": "10637908.00",
        "weight": "0.00421323",
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      },
      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B",
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      },
      {
        "name": "AL ALSFAC 5.25 07/01/2047",
        "value": "10568773.00",
        "weight": "0.00418585",
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      },
      {
        "name": "ELGIN TX ISD 4% 8/1/2049",
        "value": "10081244.48",
        "weight": "0.00399276",
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      },
      {
        "name": "Jefferson (County of), AL, Series 2024, Ref. Revenue Wts.",
        "value": "10079368.90",
        "weight": "0.00399202",
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      },
      {
        "name": "California Community Choice Financing Authority, Series 2025G",
        "value": "10032860.53",
        "weight": "0.00397360",
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    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0000035402-26-002694",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1364924/000003540226002694/0000035402-26-002694-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0000940400-26-014637",
      "as_of": "2026-02-27",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/764624/000094040026014637/0000940400-26-014637-index.htm"
    }
  ]
}