{
  "page": "compare",
  "query": {
    "a": "THMMX",
    "b": "MFLX"
  },
  "retrieved_at": "2026-07-07T18:34:18+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": "Thornburg Municipal Managed Account Fund",
    "ticker": "THMMX",
    "slug": "THMMX",
    "series_id": "S000079976",
    "html_url": "https://fundwatcher.app/funds/THMMX/"
  },
  "fund_b": {
    "name": "First Trust Flexible Municipal High Income ETF",
    "ticker": "MFLX",
    "slug": "MFLX",
    "series_id": "S000053970",
    "html_url": "https://fundwatcher.app/funds/MFLX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.02655148190868055857261908085",
    "coverage_b_by_a": "0.02655148190868055857261908085",
    "shared_count": 2,
    "as_of": {
      "a": "2026-03-31",
      "b": "2026-02-28"
    },
    "a_top": [
      {
        "name": "S E ENERGY-B-REV",
        "value": "318234.30",
        "weight": "0.02614831",
        "shared": false
      },
      {
        "name": "WV WVSDEV 04/01/2036",
        "value": "290370.33",
        "weight": "0.02385881",
        "shared": false
      },
      {
        "name": "DETROIT MI 6% 5/1/2043",
        "value": "276425.75",
        "weight": "0.02271303",
        "shared": false
      },
      {
        "name": "Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024A-1",
        "value": "266338.75",
        "weight": "0.02188421",
        "shared": false
      },
      {
        "name": "Southeast Alabama Gas Supply District (The), Series A",
        "value": "266261.25",
        "weight": "0.02187784",
        "shared": false
      },
      {
        "name": "BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE",
        "value": "266097.00",
        "weight": "0.02186435",
        "shared": false
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "263600.00",
        "weight": "0.02165918",
        "shared": false
      },
      {
        "name": "IN FIN REV 5% 5/1/2040",
        "value": "255873.25",
        "weight": "0.02102430",
        "shared": false
      },
      {
        "name": "FARM N MEX PCR 0% 6/1/2040 MT",
        "value": "253739.75",
        "weight": "0.02084899",
        "shared": false
      },
      {
        "name": "WASHOE NV WTR 4.125% 3/1/2036 @",
        "value": "252951.75",
        "weight": "0.02078425",
        "shared": false
      },
      {
        "name": "NEW MEXICO ST MTGE FIN AUTH",
        "value": "248437.11",
        "weight": "0.02041329",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "211995.60",
        "weight": "0.01741901",
        "shared": false
      },
      {
        "name": "NY BUIGEN 7 12/15/2055",
        "value": "211388.73",
        "weight": "0.01736914",
        "shared": false
      },
      {
        "name": "GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE",
        "value": "206282.89",
        "weight": "0.01694961",
        "shared": false
      },
      {
        "name": "MICHIGAN ST STR VAR MT@",
        "value": "201659.80",
        "weight": "0.01656975",
        "shared": false
      },
      {
        "name": "INDIANA ST FIN AUTH REVENUE",
        "value": "201468.60",
        "weight": "0.01655404",
        "shared": false
      },
      {
        "name": "Wisconsin (State of) Public Finance Authority (Wakemed Hospital), Series 2019 A, Ref. RB",
        "value": "201134.00",
        "weight": "0.01652654",
        "shared": false
      },
      {
        "name": "San Jose (City of), CA, Series 2017 A, Ref. RB",
        "value": "200007.80",
        "weight": "0.01643401",
        "shared": false
      },
      {
        "name": "UT BLDFAC 5.62 12/01/2053",
        "value": "199360.40",
        "weight": "0.01638081",
        "shared": false
      },
      {
        "name": "GEISINGER PA AUTH HLTH SYS REV REGD B/E 5.00000000",
        "value": "195350.61",
        "weight": "0.01605134",
        "shared": false
      },
      {
        "name": "MIAMI-DADE MFH 4.88% 3/1/2046",
        "value": "195115.00",
        "weight": "0.01603198",
        "shared": false
      },
      {
        "name": "NJ HSG & MTGE FIN-B",
        "value": "180460.39",
        "weight": "0.01482786",
        "shared": false
      },
      {
        "name": "WISCONSIN ST HSG & ECON DEV AUTH MF HSG",
        "value": "174318.98",
        "weight": "0.01432324",
        "shared": false
      },
      {
        "name": "PRESBYTERIAN HOMES OBLIGATED GROUP 5.25% 07-01-48",
        "value": "171850.18",
        "weight": "0.01412039",
        "shared": false
      },
      {
        "name": "PREREF IOWA ST FIN AUTH MIDWSTRN DISA REGD V/R B/E PREREFUNDED 12/01/32 @ 100 5.00000000",
        "value": "169714.50",
        "weight": "0.01394490",
        "shared": true
      },
      {
        "name": "OHIO ST HSG FIN AGY MF HSG REVENUE",
        "value": "161383.08",
        "weight": "0.01326034",
        "shared": false
      },
      {
        "name": "WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE",
        "value": "159852.75",
        "weight": "0.01313459",
        "shared": false
      },
      {
        "name": "PENICK VILLAGE OBLIGATED GROUP 5.5% 09-01-54",
        "value": "159110.99",
        "weight": "0.01307365",
        "shared": false
      },
      {
        "name": "MADISON-PLAINS OH LOCAL SCH DIST COPS",
        "value": "158194.65",
        "weight": "0.01299835",
        "shared": false
      },
      {
        "name": "Black Belt Energy Gas District, Series D-1",
        "value": "156872.40",
        "weight": "0.01288971",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 5% MT",
        "value": "156864.75",
        "weight": "0.01288908",
        "shared": false
      },
      {
        "name": "AGUA DULCE TX INDEP SCH DIST",
        "value": "156435.15",
        "weight": "0.01285378",
        "shared": false
      },
      {
        "name": "PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-46",
        "value": "155235.60",
        "weight": "0.01275522",
        "shared": false
      },
      {
        "name": "TX MATPOL 4.25 05/01/2030",
        "value": "154564.05",
        "weight": "0.01270004",
        "shared": false
      },
      {
        "name": "City of Chicago Wastewater Transmission Revenue",
        "value": "154153.80",
        "weight": "0.01266633",
        "shared": false
      },
      {
        "name": "AL HSG 5.05% 10/1/2045",
        "value": "154145.70",
        "weight": "0.01266566",
        "shared": false
      },
      {
        "name": "California (State of) Municipal Finance Authority (Greenfield Commons I) (Green Bonds), Series 2023 A, RB",
        "value": "153526.95",
        "weight": "0.01261482",
        "shared": false
      },
      {
        "name": "WI PUBTRN 5.75 06/30/2060",
        "value": "153426.60",
        "weight": "0.01260658",
        "shared": true
      },
      {
        "name": "TX PRIVATE ACTIVITY",
        "value": "153095.25",
        "weight": "0.01257935",
        "shared": false
      },
      {
        "name": "N ESTRN PA HOSP & EDU AUTH",
        "value": "153070.70",
        "weight": "0.01257734",
        "shared": false
      },
      {
        "name": "OWEN CO-VAR-REF-REMK",
        "value": "152771.85",
        "weight": "0.01255278",
        "shared": false
      },
      {
        "name": "Northeastern Illinois University",
        "value": "152402.40",
        "weight": "0.01252242",
        "shared": false
      },
      {
        "name": "COLORADO EDUCTNL & CULTURAL AUTH REVENUE",
        "value": "152285.85",
        "weight": "0.01251285",
        "shared": false
      },
      {
        "name": "Chandler Industrial Development Authority, Series 2007",
        "value": "151627.35",
        "weight": "0.01245874",
        "shared": false
      },
      {
        "name": "SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH",
        "value": "151140.45",
        "weight": "0.01241873",
        "shared": false
      },
      {
        "name": "NORTON HEALTHCARE OBLIGATED GROUP 5.0% 10-01-33",
        "value": "150445.95",
        "weight": "0.01236167",
        "shared": false
      },
      {
        "name": "PHX CVC APT REV 5% 7/1/2048 @",
        "value": "150129.90",
        "weight": "0.01233570",
        "shared": false
      },
      {
        "name": "UNITED METHODIST RETIREMENT HOMES INC OBLIGATED GROUP 4.25% 10-01-28",
        "value": "150052.20",
        "weight": "0.01232931",
        "shared": false
      },
      {
        "name": "CHATTANOOGA TN HLTH EDUCTNL &HSG FAC BRD REVENUE",
        "value": "149704.80",
        "weight": "0.01230077",
        "shared": false
      },
      {
        "name": "WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE",
        "value": "149687.25",
        "weight": "0.01229933",
        "shared": false
      }
    ],
    "b_top": [
      {
        "name": "OH COLAPT 5.5 01/01/2050",
        "value": "533231.60",
        "weight": "0.02962885",
        "shared": false
      },
      {
        "name": "Jefferson (County of), AL, Series 2024, Ref. RB",
        "value": "499335.98",
        "weight": "0.02774545",
        "shared": false
      },
      {
        "name": "NY DUTMFH 5 10/01/2040",
        "value": "333326.76",
        "weight": "0.01852120",
        "shared": false
      },
      {
        "name": "CHARLSTN SC ARP 5.25% 7/1/2042",
        "value": "331245.81",
        "weight": "0.01840557",
        "shared": false
      },
      {
        "name": "MAINE ST FIN AUTH SOL WST DISP REVENUE",
        "value": "325092.84",
        "weight": "0.01806368",
        "shared": false
      },
      {
        "name": "Indianapolis Local Public Improvement Bond Bank, Series 2023E",
        "value": "314432.91",
        "weight": "0.01747137",
        "shared": false
      },
      {
        "name": "PRG MEDFORD PROPERTIES INC 5.25% 06-01-60",
        "value": "314059.23",
        "weight": "0.01745060",
        "shared": false
      },
      {
        "name": "WAKE ROBIN CORP 4.0% 05-01-37",
        "value": "313669.38",
        "weight": "0.01742894",
        "shared": false
      },
      {
        "name": "TX WTR DEV BRD",
        "value": "312771.18",
        "weight": "0.01737903",
        "shared": false
      },
      {
        "name": "HAMILTON CO-REF",
        "value": "311737.38",
        "weight": "0.01732159",
        "shared": false
      },
      {
        "name": "ERIE SWR AUTH",
        "value": "311222.88",
        "weight": "0.01729300",
        "shared": false
      },
      {
        "name": "Skagit County, WA Public Hospital District No. 1 Hospital Rev. (Skagit Regional Health)",
        "value": "308447.88",
        "weight": "0.01713881",
        "shared": false
      },
      {
        "name": "Wisconsin (State of) Public Finance Authority (Miami Worldcenter), Series 2024 A, RB",
        "value": "307064.91",
        "weight": "0.01706196",
        "shared": false
      },
      {
        "name": "NEW HAMPSHIRE ST BUSINESS FIN AUTH WTR FAC REVENUE",
        "value": "304843.56",
        "weight": "0.01693854",
        "shared": false
      },
      {
        "name": "PREREF IOWA ST FIN AUTH MIDWSTRN DISA REGD V/R B/E PREREFUNDED 12/01/32 @ 100 5.00000000",
        "value": "291893.00",
        "weight": "0.01621894",
        "shared": true
      },
      {
        "name": "TEXAS ST MUNI GAS ACQUISITION& TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP IV",
        "value": "282848.80",
        "weight": "0.01571640",
        "shared": false
      },
      {
        "name": "KISSIMMEE CHARTER ACADEMY 6.5% 06-15-54",
        "value": "282779.20",
        "weight": "0.01571254",
        "shared": false
      },
      {
        "name": "HOUSTON TX ARPT SYS REVENUE REGD B/E AMT 5.50000000",
        "value": "275325.13",
        "weight": "0.01529835",
        "shared": false
      },
      {
        "name": "PATRIOTS EN GRP 5.25% MT",
        "value": "273778.35",
        "weight": "0.01521241",
        "shared": false
      },
      {
        "name": "STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.25% 03-15-47",
        "value": "272998.23",
        "weight": "0.01516906",
        "shared": false
      },
      {
        "name": "BLACK CREEK FL CDD SPL ASSMNT",
        "value": "270108.83",
        "weight": "0.01500851",
        "shared": false
      },
      {
        "name": "AZ AZSEDU 5.5 11/01/2051",
        "value": "268585.85",
        "weight": "0.01492389",
        "shared": false
      },
      {
        "name": "WA ST HLTH CAR 5.50% 9/1/2055",
        "value": "266867.98",
        "weight": "0.01482844",
        "shared": false
      },
      {
        "name": "ME FIN AUT REV 5.50% 7/1/2055",
        "value": "266458.20",
        "weight": "0.01480567",
        "shared": false
      },
      {
        "name": "Arizona Industrial Development Authority",
        "value": "265041.34",
        "weight": "0.01472694",
        "shared": false
      },
      {
        "name": "WI PUBTRN 5.75 06/30/2060",
        "value": "262102.73",
        "weight": "0.01456366",
        "shared": true
      },
      {
        "name": "Florida Development Finance Corp",
        "value": "261922.93",
        "weight": "0.01455367",
        "shared": false
      },
      {
        "name": "MD HLTH & HGR EDU-A",
        "value": "260907.33",
        "weight": "0.01449723",
        "shared": false
      },
      {
        "name": "Ridge at Apopka Community Development District",
        "value": "260300.33",
        "weight": "0.01446351",
        "shared": false
      },
      {
        "name": "LAKEWOOD RANCH STEWARDSHIP DISTRICT SERIES 2025 ASSESSMENT SOUTHEAST 6.0% 05-01-56",
        "value": "259784.13",
        "weight": "0.01443482",
        "shared": false
      },
      {
        "name": "Wyandotte County-Kansas City Unified Government, Series 2022",
        "value": "259731.80",
        "weight": "0.01443192",
        "shared": false
      },
      {
        "name": "VIRGI VA 928103 5.50% 12/1/2054",
        "value": "258981.93",
        "weight": "0.01439025",
        "shared": false
      },
      {
        "name": "MAIN STR NAT GA 4% 9/1/2052",
        "value": "258884.48",
        "weight": "0.01438483",
        "shared": false
      },
      {
        "name": "SUFFOLK REGL OFF-TRACK BETTING SUFFOLK REGIONAL OFF-TRACK BETTING CORP",
        "value": "258260.43",
        "weight": "0.01435016",
        "shared": false
      },
      {
        "name": "WI PUBFIN 5.25 06/15/2055",
        "value": "257814.51",
        "weight": "0.01432538",
        "shared": false
      },
      {
        "name": "IOWA ST FIN AUTH SENIOR LIVING FAC REVENUE",
        "value": "257690.73",
        "weight": "0.01431850",
        "shared": false
      },
      {
        "name": "NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE",
        "value": "257265.23",
        "weight": "0.01429486",
        "shared": false
      },
      {
        "name": "AZ IND DEV AUTH-A",
        "value": "255899.85",
        "weight": "0.01421899",
        "shared": false
      },
      {
        "name": "New York Transportation Development Corp.",
        "value": "254870.25",
        "weight": "0.01416179",
        "shared": false
      },
      {
        "name": "Wisconsin (State of) Public Finance Authority (Campus Real Estate Holdings), Series 2025, Ref. RB",
        "value": "254483.00",
        "weight": "0.01414027",
        "shared": false
      },
      {
        "name": "RESTRUCTURED-SER A1",
        "value": "254291.18",
        "weight": "0.01412961",
        "shared": false
      },
      {
        "name": "State of Illinois, Series 2021A",
        "value": "253183.55",
        "weight": "0.01406806",
        "shared": false
      },
      {
        "name": "MUNIBOND",
        "value": "252306.78",
        "weight": "0.01401935",
        "shared": false
      },
      {
        "name": "FL CTSGEN 5.25 12/01/2055",
        "value": "252113.43",
        "weight": "0.01400860",
        "shared": false
      },
      {
        "name": "SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE",
        "value": "251501.85",
        "weight": "0.01397462",
        "shared": false
      },
      {
        "name": "RESTRUCTURED-SER A-2-",
        "value": "250517.10",
        "weight": "0.01391990",
        "shared": false
      },
      {
        "name": "WA WASHSG 5.5 07/01/2059",
        "value": "249959.95",
        "weight": "0.01388895",
        "shared": false
      },
      {
        "name": "NORTH CAROLINA ST MED CARE COM REGD B/E 4.00000000",
        "value": "248455.25",
        "weight": "0.01380534",
        "shared": false
      },
      {
        "name": "St Charles County Public Water Supply District No 2",
        "value": "248220.98",
        "weight": "0.01379232",
        "shared": false
      },
      {
        "name": "FRASIER MEADOWS MANOR INC OBLIGATED GROUP 4.0% 05-15-41",
        "value": "246963.50",
        "weight": "0.01372245",
        "shared": false
      }
    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0001410368-26-051186",
      "as_of": "2026-03-31",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/816153/000141036826051186/0001410368-26-051186-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0000940400-26-014568",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1667919/000094040026014568/0000940400-26-014568-index.htm"
    }
  ]
}