{
  "page": "compare",
  "query": {
    "a": "PTAEX",
    "b": "LSMSX"
  },
  "retrieved_at": "2026-07-07T17:55:18+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": "Putnam Tax Exempt Income Fund",
    "ticker": "PTAEX",
    "slug": "PTAEX",
    "series_id": "S000006568",
    "html_url": "https://fundwatcher.app/funds/PTAEX/"
  },
  "fund_b": {
    "name": "Western Asset SMASh Series TF Fund",
    "ticker": "LSMSX",
    "slug": "LSMSX",
    "series_id": "S000052179",
    "html_url": "https://fundwatcher.app/funds/LSMSX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.03417825165136583769680523214",
    "coverage_b_by_a": "0.03417825165136583769680523212",
    "shared_count": 11,
    "as_of": {
      "a": "2025-09-30",
      "b": "2026-02-27"
    },
    "a_top": [
      {
        "name": "NEW YORK ST URBAN DEV CORP SALES TAX REVENUE",
        "value": "10519499.00",
        "weight": "0.01940815",
        "shared": false
      },
      {
        "name": "Wisconsin Health & Educational Facilities Authority",
        "value": "7944170.84",
        "weight": "0.01465675",
        "shared": false
      },
      {
        "name": "New York State Thruway Authority (TOBs)",
        "value": "7376952.24",
        "weight": "0.01361025",
        "shared": false
      },
      {
        "name": "Williamson (County of), TX Industrial Development Board, Series 2023, RB",
        "value": "6767935.04",
        "weight": "0.01248663",
        "shared": false
      },
      {
        "name": "Putnam Short Term Investment Fund, Class P",
        "value": "6471505.33",
        "weight": "0.01193973",
        "shared": false
      },
      {
        "name": "MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE",
        "value": "6332954.10",
        "weight": "0.01168410",
        "shared": false
      },
      {
        "name": "Alaska (State of) Industrial Development & Export Authority (Tanana Chiefs Conferene), Series 2019, RB",
        "value": "6276694.35",
        "weight": "0.01158031",
        "shared": false
      },
      {
        "name": "Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group), Series 2022, RB",
        "value": "6231388.11",
        "weight": "0.01149672",
        "shared": false
      },
      {
        "name": "PORT HOUSTON TX AUTH REGD B/E 5.00000000",
        "value": "5911201.70",
        "weight": "0.01090598",
        "shared": false
      },
      {
        "name": "TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE",
        "value": "5865984.32",
        "weight": "0.01082256",
        "shared": false
      },
      {
        "name": "FREDDIE MAC MULTIFAMILY VRD CERTIFICATES 2.55%, Due 06/15/2035",
        "value": "5841164.76",
        "weight": "0.01077677",
        "shared": false
      },
      {
        "name": "SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE",
        "value": "5278224.00",
        "weight": "0.00973816",
        "shared": false
      },
      {
        "name": "DT OF COLUMBIA",
        "value": "5243272.00",
        "weight": "0.00967367",
        "shared": false
      },
      {
        "name": "Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2014A",
        "value": "5041610.50",
        "weight": "0.00930161",
        "shared": false
      },
      {
        "name": "KY PUB ENERGY AUTH-A",
        "value": "5037900.50",
        "weight": "0.00929477",
        "shared": false
      },
      {
        "name": "UT CNTY UT HOSP 5% 5/15/2041",
        "value": "5026155.50",
        "weight": "0.00927310",
        "shared": false
      },
      {
        "name": "Kansas City Industrial Development Authority",
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        "weight": "0.00924104",
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      },
      {
        "name": "DeKalb County Housing Authority, Series 2024",
        "value": "5007062.50",
        "weight": "0.00923787",
        "shared": false
      },
      {
        "name": "Port Authority of New York & New Jersey (TOBs)",
        "value": "4798676.39",
        "weight": "0.00885341",
        "shared": false
      },
      {
        "name": "CHICAGO HSG AUTH-A",
        "value": "4735757.99",
        "weight": "0.00873733",
        "shared": false
      },
      {
        "name": "GRAND PKWY TRANSPRTN",
        "value": "4564929.15",
        "weight": "0.00842215",
        "shared": false
      },
      {
        "name": "NEW HAMPSHIRE ST HLTH & EDU FACS AUTH REVENUE",
        "value": "4521779.55",
        "weight": "0.00834254",
        "shared": false
      },
      {
        "name": "New York City Housing Development Corp",
        "value": "4315142.16",
        "weight": "0.00796130",
        "shared": false
      },
      {
        "name": "Tobacco Settlement Financing Corp., Series 2018A",
        "value": "4096954.80",
        "weight": "0.00755875",
        "shared": false
      },
      {
        "name": "SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE",
        "value": "4036912.00",
        "weight": "0.00744798",
        "shared": false
      },
      {
        "name": "NV LASGEN 5 07/01/2043",
        "value": "3985699.38",
        "weight": "0.00735349",
        "shared": false
      },
      {
        "name": "California Community Housing Agency, Series A-1",
        "value": "3984374.38",
        "weight": "0.00735105",
        "shared": false
      },
      {
        "name": "St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Subseries 2017 A-3, Ref. RB",
        "value": "3980700.40",
        "weight": "0.00734427",
        "shared": false
      },
      {
        "name": "Chicago O'Hare International Airport, Series A",
        "value": "3962936.00",
        "weight": "0.00731149",
        "shared": false
      },
      {
        "name": "NY LIBERTY DEV CORP",
        "value": "3858667.05",
        "weight": "0.00711912",
        "shared": false
      },
      {
        "name": "Henrico County Economic Development Authority",
        "value": "3707376.47",
        "weight": "0.00683999",
        "shared": false
      },
      {
        "name": "E-470 Public Highway Authority, Series 2004A",
        "value": "3704029.50",
        "weight": "0.00683382",
        "shared": false
      },
      {
        "name": "PORT NY NJ 5% 9/15/2029@",
        "value": "3698186.42",
        "weight": "0.00682304",
        "shared": false
      },
      {
        "name": "Grays Harbor County Public Hospital District No. 1, Series 2023",
        "value": "3680122.64",
        "weight": "0.00678971",
        "shared": false
      },
      {
        "name": "City of Chicago, Series 2021 A",
        "value": "3635939.23",
        "weight": "0.00670819",
        "shared": false
      },
      {
        "name": "Indianapolis Local Public Improvement Bond Bank",
        "value": "3564685.95",
        "weight": "0.00657673",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "3557485.80",
        "weight": "0.00656345",
        "shared": false
      },
      {
        "name": "CA MUNI FIN AUTH-A",
        "value": "3552562.78",
        "weight": "0.00655437",
        "shared": false
      },
      {
        "name": "DENVER CO ARPT 5.75% 11/15/38",
        "value": "3540795.56",
        "weight": "0.00653266",
        "shared": false
      },
      {
        "name": "LOWER CO RIVER AUTH-A",
        "value": "3516242.60",
        "weight": "0.00648736",
        "shared": false
      },
      {
        "name": "CHANNELSIDE WATER RESOURCES LP 5.0% 11-21-45",
        "value": "3490172.35",
        "weight": "0.00643926",
        "shared": false
      },
      {
        "name": "COVENANT LIVING COMMUNITIES AND SERVICES OBLIGATED GROUP 4.0% 12-01-50",
        "value": "3383836.60",
        "weight": "0.00624307",
        "shared": false
      },
      {
        "name": "PEOPLE OF FAITH INC OBLIGATED GROUP 5.0% 05-15-39",
        "value": "3375447.95",
        "weight": "0.00622760",
        "shared": false
      },
      {
        "name": "ARLINGTON TX HGR EDU FIN CORP EDU REVENUE",
        "value": "3337313.76",
        "weight": "0.00615724",
        "shared": false
      },
      {
        "name": "Louisiana (State of) Public Facilities Authority (I-10 Calcasieu River Bridge), Series 2024, RB",
        "value": "3281005.98",
        "weight": "0.00605335",
        "shared": false
      },
      {
        "name": "IOWA ST FIN AUTH REVENUE REGD B/E 4.00000000",
        "value": "3219240.64",
        "weight": "0.00593940",
        "shared": false
      },
      {
        "name": "San Francisco City & County Airport Comm-San Francisco International Airport",
        "value": "3217658.10",
        "weight": "0.00593648",
        "shared": false
      },
      {
        "name": "TOBACCO SETTLEMENT FING CORP R TOBGEN 06/50 FIXED 5",
        "value": "3191021.60",
        "weight": "0.00588734",
        "shared": false
      },
      {
        "name": "PORT SEATTLE 5% 8/1/2038@",
        "value": "3185824.20",
        "weight": "0.00587775",
        "shared": false
      },
      {
        "name": "Utah State Building Ownership Authority",
        "value": "3165754.04",
        "weight": "0.00584072",
        "shared": false
      }
    ],
    "b_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": false
      },
      {
        "name": "ILLINOIS ST FIN AUTH REVENUE",
        "value": "2300000.00",
        "weight": "0.02355087",
        "shared": false
      },
      {
        "name": "STATE OF NEW JERSEY NATL 0.0% 12-15-31",
        "value": "2146560.50",
        "weight": "0.02197972",
        "shared": false
      },
      {
        "name": "NYC MUNI WTR FIN-BB",
        "value": "2129160.40",
        "weight": "0.02180155",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "1915441.15",
        "weight": "0.01961317",
        "shared": false
      },
      {
        "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": false
      },
      {
        "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": false
      },
      {
        "name": "Energy Southeast A Cooperative District, Series B-1",
        "value": "1128317.20",
        "weight": "0.01155341",
        "shared": false
      },
      {
        "name": "CTR PLN ENG GAS 5% 9/1/2033",
        "value": "1124874.30",
        "weight": "0.01151816",
        "shared": false
      },
      {
        "name": "CTR TX RMA 4% 1/1/2051",
        "value": "1124749.68",
        "weight": "0.01151688",
        "shared": false
      },
      {
        "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": false
      },
      {
        "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": false
      },
      {
        "name": "NY TRANSPRTN DEV CORP",
        "value": "1049766.30",
        "weight": "0.01074909",
        "shared": false
      },
      {
        "name": "Chandler Industrial Development Authority",
        "value": "1020077.50",
        "weight": "0.01044509",
        "shared": false
      },
      {
        "name": "NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-55",
        "value": "1002757.10",
        "weight": "0.01026774",
        "shared": false
      },
      {
        "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": false
      },
      {
        "name": "NY MTA DED 4% 11/15/2054",
        "value": "928202.20",
        "weight": "0.00950433",
        "shared": false
      },
      {
        "name": "INDIANA ST FIN AUTH HLTH SYS R INSMED 12/49 FIXED 4",
        "value": "926178.80",
        "weight": "0.00948361",
        "shared": false
      },
      {
        "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": false
      },
      {
        "name": "NY TRANSPRTN DEV -AMT",
        "value": "837294.08",
        "weight": "0.00857348",
        "shared": false
      },
      {
        "name": "CHICAGO IL BRD OF EDU REGD B/E 5.00000000",
        "value": "808487.19",
        "weight": "0.00827851",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District (The) (Gas), Series 2022 F, RB",
        "value": "800228.55",
        "weight": "0.00819395",
        "shared": false
      },
      {
        "name": "CHICAGO IL BRD OF EDU DEDICATE REGD B/E 5.75000000",
        "value": "798779.03",
        "weight": "0.00817910",
        "shared": false
      },
      {
        "name": "Jefferson (County of), AL, Series 2024, Ref. Revenue Wts.",
        "value": "795739.65",
        "weight": "0.00814798",
        "shared": false
      },
      {
        "name": "California Community Choice Financing Authority, Series 2025G",
        "value": "789101.39",
        "weight": "0.00808001",
        "shared": false
      },
      {
        "name": "Chandler Industrial Development Authority, Series 2019",
        "value": "771796.28",
        "weight": "0.00790281",
        "shared": false
      },
      {
        "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": false
      },
      {
        "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": false
      },
      {
        "name": "ELGIN TX ISD 4% 8/1/2049",
        "value": "713295.60",
        "weight": "0.00730380",
        "shared": false
      },
      {
        "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": true
      },
      {
        "name": "St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB",
        "value": "610581.60",
        "weight": "0.00625205",
        "shared": false
      },
      {
        "name": "Oneida County Local Development Corp., Series A",
        "value": "583811.32",
        "weight": "0.00597794",
        "shared": false
      },
      {
        "name": "LONGVIEW TX ISD 4% 2/15/2049",
        "value": "571538.40",
        "weight": "0.00585227",
        "shared": false
      },
      {
        "name": "DENVER CO ARPT 5% 11/15/2032 @",
        "value": "569066.50",
        "weight": "0.00582696",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District, Series D",
        "value": "555552.80",
        "weight": "0.00568859",
        "shared": false
      },
      {
        "name": "MTRO WA DC ARPT 5% 10/1/2030 @",
        "value": "554368.85",
        "weight": "0.00567646",
        "shared": false
      },
      {
        "name": "SALT VERDE FINL CORP GAS REV ARIZ SR",
        "value": "548231.41",
        "weight": "0.00561362",
        "shared": false
      }
    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0002071691-25-006425",
      "as_of": "2025-09-30",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/205802/000207169125006425/0002071691-25-006425-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "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"
    }
  ]
}