{
  "page": "compare",
  "query": {
    "a": "LSMSX",
    "b": "FSMUX"
  },
  "retrieved_at": "2026-07-07T13:55:49+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": "Western Asset SMASh Series TF Fund",
    "ticker": "LSMSX",
    "slug": "LSMSX",
    "series_id": "S000052179",
    "html_url": "https://fundwatcher.app/funds/LSMSX/"
  },
  "fund_b": {
    "name": "Strategic Advisers Municipal Bond Fund",
    "ticker": "FSMUX",
    "slug": "FSMUX",
    "series_id": "S000072234",
    "html_url": "https://fundwatcher.app/funds/FSMUX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.05628299936219824865396807790",
    "coverage_b_by_a": "0.05628299936219824865396807789",
    "shared_count": 188,
    "as_of": {
      "a": "2026-02-27",
      "b": "2026-02-28"
    },
    "a_top": [
      {
        "name": "NYC-D4-ADJ",
        "value": "3600000.00",
        "weight": "0.03686222",
        "shared": false
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "2326360.96",
        "weight": "0.02382079",
        "shared": true
      },
      {
        "name": "ILLINOIS ST FIN AUTH REVENUE",
        "value": "2300000.00",
        "weight": "0.02355087",
        "shared": true
      },
      {
        "name": "STATE OF NEW JERSEY NATL 0.0% 12-15-31",
        "value": "2146560.50",
        "weight": "0.02197972",
        "shared": true
      },
      {
        "name": "NYC MUNI WTR FIN-BB",
        "value": "2129160.40",
        "weight": "0.02180155",
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      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "1915441.15",
        "weight": "0.01961317",
        "shared": true
      },
      {
        "name": "MET NASHVILLE TN ARPT AUTH ARPT REVENUE",
        "value": "1568497.28",
        "weight": "0.01606064",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000",
        "value": "1373782.41",
        "weight": "0.01406685",
        "shared": true
      },
      {
        "name": "State of Illinois",
        "value": "1345717.38",
        "weight": "0.01377948",
        "shared": false
      },
      {
        "name": "NOVANT HEALTH OBLIGATED GROUP 5.0% 12-01-35",
        "value": "1150598.20",
        "weight": "0.01178156",
        "shared": true
      },
      {
        "name": "Energy Southeast A Cooperative District, Series B-1",
        "value": "1128317.20",
        "weight": "0.01155341",
        "shared": true
      },
      {
        "name": "CTR PLN ENG GAS 5% 9/1/2033",
        "value": "1124874.30",
        "weight": "0.01151816",
        "shared": true
      },
      {
        "name": "CTR TX RMA 4% 1/1/2051",
        "value": "1124749.68",
        "weight": "0.01151688",
        "shared": true
      },
      {
        "name": "CHICAGO IL BRD OF EDU CHIEDU 12/40 FIXED 5",
        "value": "1111759.88",
        "weight": "0.01138387",
        "shared": true
      },
      {
        "name": "Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C",
        "value": "1100112.50",
        "weight": "0.01126461",
        "shared": true
      },
      {
        "name": "OR FACS AUTH-B-REF",
        "value": "1100000.00",
        "weight": "0.01126346",
        "shared": false
      },
      {
        "name": "IL CHI 5.5 01/01/2039",
        "value": "1079775.90",
        "weight": "0.01105637",
        "shared": false
      },
      {
        "name": "New York State Urban Development Corp. (Bidding Group 3), Series 2023 A, RB",
        "value": "1057092.50",
        "weight": "0.01082411",
        "shared": false
      },
      {
        "name": "NY NYCUTL 5.25 06/15/2052",
        "value": "1056468.27",
        "weight": "0.01081771",
        "shared": true
      },
      {
        "name": "NY TRANSPRTN DEV CORP",
        "value": "1049766.30",
        "weight": "0.01074909",
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      },
      {
        "name": "Chandler Industrial Development Authority",
        "value": "1020077.50",
        "weight": "0.01044509",
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      },
      {
        "name": "NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-55",
        "value": "1002757.10",
        "weight": "0.01026774",
        "shared": true
      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000",
        "value": "975122.80",
        "weight": "0.00998478",
        "shared": true
      },
      {
        "name": "PORT NY NJ 4% 7/15/2045 @",
        "value": "970397.80",
        "weight": "0.00993639",
        "shared": true
      },
      {
        "name": "NY MTA DED 4% 11/15/2054",
        "value": "928202.20",
        "weight": "0.00950433",
        "shared": true
      },
      {
        "name": "INDIANA ST FIN AUTH HLTH SYS R INSMED 12/49 FIXED 4",
        "value": "926178.80",
        "weight": "0.00948361",
        "shared": true
      },
      {
        "name": "NYC GO 23A-4 Q=TD V1",
        "value": "900000.00",
        "weight": "0.00921556",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "893107.04",
        "weight": "0.00914498",
        "shared": true
      },
      {
        "name": "NY TRANSPRTN DEV -AMT",
        "value": "837294.08",
        "weight": "0.00857348",
        "shared": true
      },
      {
        "name": "CHICAGO IL BRD OF EDU REGD B/E 5.00000000",
        "value": "808487.19",
        "weight": "0.00827851",
        "shared": true
      },
      {
        "name": "Black Belt Energy Gas District (The) (Gas), Series 2022 F, RB",
        "value": "800228.55",
        "weight": "0.00819395",
        "shared": true
      },
      {
        "name": "CHICAGO IL BRD OF EDU DEDICATE REGD B/E 5.75000000",
        "value": "798779.03",
        "weight": "0.00817910",
        "shared": true
      },
      {
        "name": "Jefferson (County of), AL, Series 2024, Ref. Revenue Wts.",
        "value": "795739.65",
        "weight": "0.00814798",
        "shared": true
      },
      {
        "name": "California Community Choice Financing Authority, Series 2025G",
        "value": "789101.39",
        "weight": "0.00808001",
        "shared": true
      },
      {
        "name": "Chandler Industrial Development Authority, Series 2019",
        "value": "771796.28",
        "weight": "0.00790281",
        "shared": true
      },
      {
        "name": "RESTRUCTURED-SER A1",
        "value": "761570.39",
        "weight": "0.00779811",
        "shared": true
      },
      {
        "name": "NY TRANS CORP 5% 6/30/2049 @",
        "value": "758726.03",
        "weight": "0.00776898",
        "shared": true
      },
      {
        "name": "NY TRANS CORP 5% 7/1/46 @",
        "value": "750297.83",
        "weight": "0.00768268",
        "shared": true
      },
      {
        "name": "NY TRANSPRTN DEV -AMT",
        "value": "749542.99",
        "weight": "0.00767495",
        "shared": true
      },
      {
        "name": "ELGIN TX ISD 4% 8/1/2049",
        "value": "713295.60",
        "weight": "0.00730380",
        "shared": true
      },
      {
        "name": "WV HOSP FIN AUTH-C",
        "value": "700000.00",
        "weight": "0.00716765",
        "shared": false
      },
      {
        "name": "Van Alstyne Independent School District",
        "value": "694629.83",
        "weight": "0.00711267",
        "shared": false
      },
      {
        "name": "New York City Housing Development Corp",
        "value": "658201.20",
        "weight": "0.00673966",
        "shared": false
      },
      {
        "name": "St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB",
        "value": "610581.60",
        "weight": "0.00625205",
        "shared": true
      },
      {
        "name": "Oneida County Local Development Corp., Series A",
        "value": "583811.32",
        "weight": "0.00597794",
        "shared": true
      },
      {
        "name": "LONGVIEW TX ISD 4% 2/15/2049",
        "value": "571538.40",
        "weight": "0.00585227",
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      },
      {
        "name": "DENVER CO ARPT 5% 11/15/2032 @",
        "value": "569066.50",
        "weight": "0.00582696",
        "shared": true
      },
      {
        "name": "Black Belt Energy Gas District, Series D",
        "value": "555552.80",
        "weight": "0.00568859",
        "shared": true
      },
      {
        "name": "MTRO WA DC ARPT 5% 10/1/2030 @",
        "value": "554368.85",
        "weight": "0.00567646",
        "shared": true
      },
      {
        "name": "SALT VERDE FINL CORP GAS REV ARIZ SR",
        "value": "548231.41",
        "weight": "0.00561362",
        "shared": false
      }
    ],
    "b_top": [
      {
        "name": "Allspring Municipal Bond Admin",
        "value": "865145655.00",
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        "shared": false
      },
      {
        "name": "Vanguard Long-Term Tax-Exempt Adm",
        "value": "694526934.51",
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      {
        "name": "Franklin Federal Tax Free Income R6",
        "value": "656439810.79",
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      },
      {
        "name": "MONEY MARKET FUND",
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        "weight": "0.03456646",
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      },
      {
        "name": "ISHARES NATIONAL MUNI BOND ETF ISHARES NATIONAL MUNI BOND E",
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      },
      {
        "name": "VANGUARD TAX-EXM",
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      },
      {
        "name": "DWS Managed Municipal Bond S",
        "value": "306113111.12",
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      },
      {
        "name": "FIDELITY SAI ENHANCED MUNICIPAL INCOME FUND",
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      },
      {
        "name": "BlackRock National Municipal Inv A",
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      {
        "name": "Eaton Vance National Municipal Income I",
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      {
        "name": "American High-Income Municipal Bond F-2",
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      {
        "name": "Fidelity Municipal Cash Central Fund",
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      {
        "name": "Invesco Government & Agency Portfolio, Institutional Class",
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      {
        "name": "MAIN STR NAT GA 4% 07/01/2052 MT",
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        "weight": "0.00268308",
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      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000",
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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",
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      {
        "name": "TN TNSUTL 5 12/01/2035",
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      {
        "name": "Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C",
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      {
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      {
        "name": "Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A",
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        "name": "CHICAGO ILLIN 6% 4/1/2046",
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      {
        "name": "MUNIBOND",
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      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000",
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      },
      {
        "name": "MAIN STR NAT GA(RCC) 5% 9/1/30MT 53",
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      {
        "name": "TX TTFTRN 5.5 10/01/2055",
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      {
        "name": "TN TNSUTL 5 11/01/2034",
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      {
        "name": "NY TRANS CORP(JFK INT NEW ONE)/AGM 5.13% 6/30/60@",
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      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C",
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      {
        "name": "NEW YORK ST URBAN DEV CORP SALES TAX REVENUE",
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      {
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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",
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      {
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      {
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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",
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      },
      {
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      {
        "name": "PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.75000000",
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      {
        "name": "Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022",
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      {
        "name": "MAIN STR NAT GA 4% 9/1/2052",
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      {
        "name": "Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B",
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      {
        "name": "MAIN STR NAT GA 5% MT",
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      },
      {
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      {
        "name": "TX TXSUTL 01/01/2055",
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      },
      {
        "name": "PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000",
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      },
      {
        "name": "NEW YORK ST DO 5% 3/15/2041",
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      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "13108509.88",
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      {
        "name": "California Community Choice Financing Authority, Series 2025G",
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      {
        "name": "NY TRNSPRTN DEV CRP-A",
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    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0000940400-26-014628",
      "as_of": "2026-02-27",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/889512/000094040026014628/0000940400-26-014628-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "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"
    }
  ]
}