{
  "page": "compare",
  "query": {
    "a": "LTMFX",
    "b": "FSMB"
  },
  "retrieved_at": "2026-07-07T16:34:29+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": "Thornburg Limited Term Municipal Fund",
    "ticker": "LTMFX",
    "slug": "LTMFX",
    "series_id": "S000000540",
    "html_url": "https://fundwatcher.app/funds/LTMFX/"
  },
  "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": "0.05469830240245258162985773725",
    "coverage_b_by_a": "0.05469830240245258162985773725",
    "shared_count": 43,
    "as_of": {
      "a": "2026-03-31",
      "b": "2026-04-30"
    },
    "a_top": [
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "43312991.26",
        "weight": "0.02035140",
        "shared": true
      },
      {
        "name": "TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN",
        "value": "41401169.73",
        "weight": "0.01945310",
        "shared": false
      },
      {
        "name": "NJ TRANSP 5% 6/15/27",
        "value": "30134445.24",
        "weight": "0.01415922",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 4% 9/1/2052",
        "value": "29711957.50",
        "weight": "0.01396071",
        "shared": true
      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "27895781.38",
        "weight": "0.01310734",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "26656652.25",
        "weight": "0.01252512",
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      },
      {
        "name": "State of Illinois, Series D",
        "value": "26586328.23",
        "weight": "0.01249207",
        "shared": false
      },
      {
        "name": "TN ENERGY ACQ CORP-A",
        "value": "25602562.70",
        "weight": "0.01202983",
        "shared": false
      },
      {
        "name": "NY HSG FIN AGY-A",
        "value": "24215000.00",
        "weight": "0.01137786",
        "shared": false
      },
      {
        "name": "TEXAS ST MUNI GAS ACQUISITION TXSUTL 12/30 FIXED 5",
        "value": "23847885.00",
        "weight": "0.01120537",
        "shared": false
      },
      {
        "name": "PORT PORT ARTHUR TX NAV DIST VAR-MOTIVA ENTERPRISES PJ-A",
        "value": "22400000.00",
        "weight": "0.01052505",
        "shared": false
      },
      {
        "name": "PEFA INC VAR",
        "value": "19832167.36",
        "weight": "0.00931851",
        "shared": true
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2022A-1",
        "value": "18873031.17",
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        "shared": false
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB",
        "value": "17887185.90",
        "weight": "0.00840462",
        "shared": false
      },
      {
        "name": "TN TGYPWR 12/01/2051",
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        "weight": "0.00697265",
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      },
      {
        "name": "NYC-F-5",
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        "weight": "0.00683658",
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      },
      {
        "name": "IN FIN HSR 0% 10/1/2060",
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      },
      {
        "name": "Maricopa County Industrial Development Authority, Banner Health, Series 2023A3",
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      },
      {
        "name": "BLACK BELT ENERGY GAS VAR",
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        "weight": "0.00650231",
        "shared": true
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING PASMED 03/60 ADJUSTABLE VAR",
        "value": "13474947.55",
        "weight": "0.00633145",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "13104250.25",
        "weight": "0.00615727",
        "shared": true
      },
      {
        "name": "MS BUS FIN-G-CHEVRON",
        "value": "13050000.00",
        "weight": "0.00613178",
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      },
      {
        "name": "OREGON ST HLTH & SCIENCE UNIV REVENUE",
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        "weight": "0.00601194",
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      },
      {
        "name": "MAIN STR NAT GA 4% 07/01/2052 MT",
        "value": "12701333.48",
        "weight": "0.00596795",
        "shared": true
      },
      {
        "name": "CTR PLN ENG GAS 5% MT",
        "value": "12099932.00",
        "weight": "0.00568537",
        "shared": true
      },
      {
        "name": "BLACK BELT ENERGY GAS VAR",
        "value": "12056040.00",
        "weight": "0.00566475",
        "shared": true
      },
      {
        "name": "Main Street Natural Gas, Inc., Series 2025B",
        "value": "12051666.50",
        "weight": "0.00566270",
        "shared": false
      },
      {
        "name": "PATRIOTS EN GRP 5.25% MT",
        "value": "10802454.90",
        "weight": "0.00507573",
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      },
      {
        "name": "CONNECTICUT ST SPL TAX OBLIG REVENUE",
        "value": "10697562.40",
        "weight": "0.00502645",
        "shared": false
      },
      {
        "name": "CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV",
        "value": "10434170.00",
        "weight": "0.00490269",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District",
        "value": "10433720.00",
        "weight": "0.00490247",
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      {
        "name": "FT BEND TX ISD 4% 8/1/2054",
        "value": "10163940.00",
        "weight": "0.00477571",
        "shared": false
      },
      {
        "name": "State of Illinois, Series D",
        "value": "9955343.68",
        "weight": "0.00467770",
        "shared": false
      },
      {
        "name": "TX MUNI GAS ACQ VI",
        "value": "9922500.50",
        "weight": "0.00466227",
        "shared": false
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024A-1",
        "value": "9588195.00",
        "weight": "0.00450519",
        "shared": false
      },
      {
        "name": "California Community Choice Financing Authority, Series 2023 E-1",
        "value": "8706250.83",
        "weight": "0.00409079",
        "shared": false
      },
      {
        "name": "State of Connecticut, Series 2016B",
        "value": "8641137.91",
        "weight": "0.00406020",
        "shared": false
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      {
        "name": "NJ TRANSP 5% 12/15/2028",
        "value": "8594488.80",
        "weight": "0.00403828",
        "shared": false
      },
      {
        "name": "Louisville/Jefferson County Metropolitan Government",
        "value": "8585756.50",
        "weight": "0.00403417",
        "shared": false
      },
      {
        "name": "Canadian (County of), OK Educational Facilities Authority (Yukon Public Schools), Series 2023, RB",
        "value": "8522888.00",
        "weight": "0.00400463",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING PASDEV 08/37 ADJUSTABLE VAR",
        "value": "8505848.00",
        "weight": "0.00399663",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA ST",
        "value": "8475274.73",
        "weight": "0.00398226",
        "shared": false
      },
      {
        "name": "Halifax County Industrial Development Authority, Virginia Electric and Power, Series 2010A",
        "value": "8446041.70",
        "weight": "0.00396853",
        "shared": false
      },
      {
        "name": "MUNIBOND",
        "value": "8252198.05",
        "weight": "0.00387745",
        "shared": false
      },
      {
        "name": "City of Burlington KS",
        "value": "8019744.88",
        "weight": "0.00376822",
        "shared": false
      },
      {
        "name": "Energy Southeast A Cooperative District, Series B-1",
        "value": "7931591.23",
        "weight": "0.00372680",
        "shared": false
      },
      {
        "name": "San Francisco City & County Airport Comm-San Francisco International Airport",
        "value": "7801171.00",
        "weight": "0.00366552",
        "shared": false
      },
      {
        "name": "TN SHEMED 5 06/01/2035",
        "value": "7682605.00",
        "weight": "0.00360981",
        "shared": false
      },
      {
        "name": "CT HSG FIN AUTH-D2",
        "value": "7661261.79",
        "weight": "0.00359978",
        "shared": false
      },
      {
        "name": "CHARLOTTE-MECKLENBURG NC HOSP CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY/THE",
        "value": "7643062.00",
        "weight": "0.00359123",
        "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": true
      },
      {
        "name": "St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB",
        "value": "4026151.60",
        "weight": "0.00681150",
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      {
        "name": "Main Street Energy, Inc., Series D",
        "value": "3895478.03",
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      {
        "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": true
      },
      {
        "name": "NM MUNI ENERGY ACQ AU",
        "value": "3381642.53",
        "weight": "0.00572111",
        "shared": false
      },
      {
        "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": false
      },
      {
        "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": true
      },
      {
        "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": true
      },
      {
        "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": true
      },
      {
        "name": "WASTE MANAGEMENT INC (MPT) 3.45% 10-01-41",
        "value": "2515175.25",
        "weight": "0.00425521",
        "shared": true
      },
      {
        "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": true
      },
      {
        "name": "HOUSTON-UTL SYS-B-REF",
        "value": "2424190.04",
        "weight": "0.00410128",
        "shared": true
      },
      {
        "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": true
      },
      {
        "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": true
      },
      {
        "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": "0001410368-26-051182",
      "as_of": "2026-03-31",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/816153/000141036826051182/0001410368-26-051182-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"
    }
  ]
}