{
  "page": "compare",
  "query": {
    "a": "STAX",
    "b": "TLMAX"
  },
  "retrieved_at": "2026-07-07T17:00:46+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": "Nomura Tax-Free USA Short Term ETF",
    "ticker": "STAX",
    "slug": "STAX",
    "series_id": "S000082264",
    "html_url": "https://fundwatcher.app/funds/STAX/"
  },
  "fund_b": {
    "name": "Thornburg Short Duration Municipal Fund",
    "ticker": "TLMAX",
    "slug": "TLMAX",
    "series_id": "S000043669",
    "html_url": "https://fundwatcher.app/funds/TLMAX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.02339546440425793741955001799",
    "coverage_b_by_a": "0.02339546440425793741955001799",
    "shared_count": 1,
    "as_of": {
      "a": "2026-03-31",
      "b": "2026-03-31"
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    "a_top": [
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        "name": "Housing & Redevelopment Authority of The City of St Paul Minnesota, Series 2017A",
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        "weight": "0.03846558",
        "shared": false
      },
      {
        "name": "City of Chicago Waterworks, Series 2004",
        "value": "238192.22",
        "weight": "0.03782721",
        "shared": false
      },
      {
        "name": "State of Texas, Series 2018",
        "value": "221523.61",
        "weight": "0.03518008",
        "shared": false
      },
      {
        "name": "Port Authority of New York & New Jersey, Series 246",
        "value": "200331.93",
        "weight": "0.03181464",
        "shared": false
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      {
        "name": "NYC MUNI WTR-AA3-ADJ",
        "value": "200000.00",
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      {
        "name": "Pittsburgh Water & Sewer Authority, Series 2017A",
        "value": "190964.18",
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      {
        "name": "New Hampshire Business Finance Authority, Series 2021",
        "value": "176202.27",
        "weight": "0.02798261",
        "shared": false
      },
      {
        "name": "MONT PA HR ED 5% 9/1/2029",
        "value": "169428.16",
        "weight": "0.02690682",
        "shared": false
      },
      {
        "name": "Arizona Industrial Development Authority, Series 2022A",
        "value": "168193.12",
        "weight": "0.02671068",
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      {
        "name": "Colorado Educational & Cultural Facilities Authority, Series 2014",
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      {
        "name": "LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE",
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        "shared": true
      },
      {
        "name": "New Jersey Transportation Trust Fund Authority, Series 2019BB",
        "value": "158663.12",
        "weight": "0.02519723",
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      {
        "name": "MAIN STR NAT GA 5% 12/1/2052 MT",
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      {
        "name": "IL CHIEDU 5.25 12/01/2030",
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      {
        "name": "Commonwealth Financing Authority, Tobacco Master Settlement Payment",
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      {
        "name": "City of Chaska, Series 2015A",
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      {
        "name": "Colorado Health Facilities Authority, Series 2017A",
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      {
        "name": "New York Transportation Development Corp., Series 2022",
        "value": "150741.95",
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      {
        "name": "DENVER CO ARPT 5.25% 11/15/2026",
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        "weight": "0.02256973",
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      },
      {
        "name": "AUGUSTA GA DEV AUTH R",
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        "weight": "0.02230769",
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      },
      {
        "name": "State of Connecticut, Series 2018E",
        "value": "137757.01",
        "weight": "0.02187714",
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      {
        "name": "DETROIT MI REGD B/E 5.00000000",
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        "weight": "0.02130449",
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      {
        "name": "LOWER AL GAS DIST GAS",
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      {
        "name": "OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE",
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      },
      {
        "name": "COMMONSPIRIT HEALTH OBL",
        "value": "116601.85",
        "weight": "0.01851749",
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      {
        "name": "New York City Municipal Water Finance Authority, Series 2026DD",
        "value": "112378.66",
        "weight": "0.01784681",
        "shared": false
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      {
        "name": "REGL CO TRANSPRTN DIST PRIV ACTIVITY REVENUE",
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      {
        "name": "State of Illinois, Series 2019B",
        "value": "105897.95",
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      {
        "name": "RESTRUCTURED-SER A1",
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      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB",
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        "weight": "0.01676215",
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      {
        "name": "ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE",
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      {
        "name": "WA ST HLTH CARE FACS",
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      {
        "name": "New York (City of), NY Industrial Development Agency (Yankee Stadium), Series 2020, Ref. RB",
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      {
        "name": "Utility Debt Securitization Authority, Series 2016A",
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        "shared": false
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      {
        "name": "COLORADO ST HLTH FACS",
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      {
        "name": "Maricopa County Industrial Development Authority, Series 2020A",
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        "shared": false
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      {
        "name": "BLACK BELT ENERGY GAS VAR",
        "value": "99689.96",
        "weight": "0.01583172",
        "shared": false
      },
      {
        "name": "Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1",
        "value": "95386.17",
        "weight": "0.01514824",
        "shared": false
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      {
        "name": "Texas Department of Housing & Community Affairs, Series 2022B",
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      {
        "name": "Virginia Public Building Authority, Series 2021A1",
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        "name": "CA ST MFA REV 5% 7/1/2029",
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      },
      {
        "name": "State of New Jersey, Series 2020A",
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        "weight": "0.01280093",
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      {
        "name": "Cumberland County Municipal Authority, Series 2019",
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        "weight": "0.01228599",
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      {
        "name": "State of Illinois, Series 2021A",
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        "weight": "0.01106178",
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      {
        "name": "NY MTA TRANSP 5% 11/15/2030",
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        "weight": "0.00993120",
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      {
        "name": "New York Transportation Development Corp., Series 2018",
        "value": "61794.15",
        "weight": "0.00981351",
        "shared": false
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      {
        "name": "Ohio Housing Finance Agency",
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        "weight": "0.00875944",
        "shared": false
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      {
        "name": "TX PRIVATE ACTIVITY-A",
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        "weight": "0.00840931",
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      {
        "name": "Tarrant County Cultural Education Facilities Finance Corp., Series 2016",
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        "weight": "0.00627910",
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      {
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        "weight": "0.00399061",
        "shared": false
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    ],
    "b_top": [
      {
        "name": "PEFA INC VAR",
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        "weight": "0.03288460",
        "shared": false
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A",
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        "weight": "0.02638588",
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      {
        "name": "TENNERGY CORP TN GAS REVENUE TENNERGY CORP/TN",
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        "shared": false
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      {
        "name": "LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE",
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        "shared": true
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      {
        "name": "Travis County Housing Finance Corp.",
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      {
        "name": "Harris County Cultural Education Facilities Finance Corp.",
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        "weight": "0.02230538",
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      {
        "name": "CALIFORNIA CMY 5% 4/1/2031",
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      {
        "name": "Halifax County Industrial Development Authority, Virginia Electric and Power, Series 2010A",
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        "weight": "0.01791547",
        "shared": false
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      {
        "name": "MET TRANSPRTN AUTH NY REVENUE MTATRN 11/50 ADJUSTABLE VAR",
        "value": "1580000.00",
        "weight": "0.01722127",
        "shared": false
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      {
        "name": "MAIN STR NAT GA(RCC) 5% 9/1/30MT 53",
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        "weight": "0.01713182",
        "shared": false
      },
      {
        "name": "GUNSMOKE RANCH APARTMENTS LP (MPT) 5.0% 03-01-58",
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        "weight": "0.01650744",
        "shared": false
      },
      {
        "name": "NASHVILLE & DAVIDSON",
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        "weight": "0.01636579",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA ST ECON DEV FING PASDEV 08/37 ADJUSTABLE VAR",
        "value": "1501032.00",
        "weight": "0.01636055",
        "shared": false
      },
      {
        "name": "Chicago O'Hare International Airport",
        "value": "1396910.52",
        "weight": "0.01522568",
        "shared": false
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      {
        "name": "GEORGIA POWER CO (MPT) 3.95% 12-01-32",
        "value": "1321572.20",
        "weight": "0.01440453",
        "shared": false
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      {
        "name": "City of Chicago, Series 2024",
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        "weight": "0.01384385",
        "shared": false
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      {
        "name": "MONTGOMERY INDL 0% 10/1/2053 MT",
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      {
        "name": "NE CENPWR 08/01/2055",
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        "weight": "0.01358712",
        "shared": false
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      {
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        "shared": false
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      {
        "name": "NY NY CITY HS(NEW YORK MHSG) 3.25% 2/1/30 MT 65",
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      {
        "name": "MOBILE PCR AL PWR-C",
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        "shared": false
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      {
        "name": "NYC HSG DEV CORP-F-2A",
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      {
        "name": "AUSTIN TX ARPT SYS REVENUE",
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        "weight": "0.01181995",
        "shared": false
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      {
        "name": "Shelby County Health Educational & Housing Facilities Board",
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      {
        "name": "MUNIBOND",
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      {
        "name": "TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN",
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        "weight": "0.01147916",
        "shared": false
      },
      {
        "name": "California Community Choice Financing Authority, Series B-1",
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      {
        "name": "Oklahoma County Finance Authority, Series 2025",
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      {
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      {
        "name": "State of Illinois, Series 2022B",
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      {
        "name": "NORTHWESTERN CORP 3.875% 07-01-28",
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        "weight": "0.01106433",
        "shared": false
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      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2022 A-1, RB",
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        "shared": false
      },
      {
        "name": "Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A",
        "value": "1009006.00",
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      {
        "name": "HOUSTON TX MF 3.65% MT",
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        "shared": false
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      {
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        "value": "1008294.00",
        "weight": "0.01098994",
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      {
        "name": "WASTE MANAGEMENT PA OBLIGATED GROUP (MPT) 4.25% 07-01-41",
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      },
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        "name": "OHIO ST AIR QUALITY DEV AUTH REGD N/C B/E AMT 3.75000000",
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      },
      {
        "name": "SOUTHWARD VILLAGE PHASE 2 LP (MPT) 3.2% 12-01-44",
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      {
        "name": "WASHINGTON ST HSG FIN COMMISSI REGD V/R B/E 5.00000000",
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        "weight": "0.01093830",
        "shared": false
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      {
        "name": "FLORIDA ST HSG FIN CORP MF MTGE REVENUE",
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        "weight": "0.01092637",
        "shared": false
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      {
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      {
        "name": "LEE FL IDA HLTH 4.375% 11/15/2029",
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        "name": "MAIN STREET MARKET SQUARE REDEVELOPMENT AUTHORITY",
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      {
        "name": "MAIKER HSG PARTNERS CO MF HSG REV",
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        "shared": false
      },
      {
        "name": "Development Authority of Burke County (The), Series 4",
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        "weight": "0.01090846",
        "shared": false
      },
      {
        "name": "WASTE MANAGEMENT INC (MPT) 3.45% 12-01-44",
        "value": "1000505.00",
        "weight": "0.01090504",
        "shared": false
      },
      {
        "name": "MIAMI-DADE MFH MT 4/1/2041",
        "value": "1000345.00",
        "weight": "0.01090330",
        "shared": false
      },
      {
        "name": "NY ST HSG FIN AGY",
        "value": "1000136.00",
        "weight": "0.01090102",
        "shared": false
      },
      {
        "name": "Knox Warren Etc Counties Community College District No. 518, Series 2025",
        "value": "1000000.00",
        "weight": "0.01089954",
        "shared": false
      },
      {
        "name": "MS BUS FIN-G-CHEVRON",
        "value": "1000000.00",
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    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0002071691-26-012297",
      "as_of": "2026-03-31",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1969995/000207169126012297/0002071691-26-012297-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0001410368-26-051187",
      "as_of": "2026-03-31",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/816153/000141036826051187/0001410368-26-051187-index.htm"
    }
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}