# Portfolio overlap — AVMU vs VTES Comparing **Avantis Core Municipal Fixed Income ETF** (2026-02-28) and **VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF** (2026-02-28). - Shared positions: 85 - Avantis Core Municipal Fixed Income ETF covered by VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF: 0.02643138135246922988802785704 - VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF covered by Avantis Core Municipal Fixed Income ETF: 0.02643138135246922988802785702 ## Avantis Core Municipal Fixed Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | SAN ANTONIO TX PUB FACS CORP L SANFAC 09/42 FIXED OID 4 | 0.024687 | | | JOBSOHIO BEVERAGE -A | 0.019347 | | | SAN JACINTO TX CMNTY CLG DIST | 0.018303 | | | MIAMI BEACH FL RESORT TAX REVENUE | 0.016072 | | | NEW YORK NY | 0.012104 | | | TX GPTTRN 4 10/01/2045 | 0.010834 | | | STATE OF COLORADO 4.0% 12-15-40 | 0.009951 | | | STATE OF NEW YORK SALES TAX REVENUE 4.0% 03-15-39 | 0.009168 | | | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT | 0.009125 | | | District of Columbia Income Tax, Series 2019A | 0.008637 | | | NY DASNY-REF-A | 0.008284 | | | MICHIGAN ST UNIV REVENUES | 0.008256 | | | Los Angeles Department of Water & Power, Series 2023A | 0.008209 | ✓ | | State of Mississippi, Series 2017A | 0.007917 | ✓ | | LOS ANGELES -C-REF | 0.007425 | ✓ | | City of Atlanta Water & Wastewater, Series 2015 | 0.007407 | | | WA ENEPWR 4 07/01/2042 | 0.007257 | | | SAN ANTONIO TX ELEC & | 0.006771 | | | LOS ANGELES DEPT-B | 0.006760 | ✓ | | PORT NY NJ 4% 7/15/2041 | 0.006579 | | | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE | 0.006519 | | | SEATTLE WA MUNI LIGHT & PWR REVENUE | 0.006514 | | | County of Cook Sales Tax Revenue | 0.006504 | | | RI HLTH EDU BLDG CORP | 0.006481 | | | MA WTR RES AUTH-B-REF | 0.006433 | | | PENNSYLVANIA ST HGR EDUCTNL FA PASHGR 08/41 FIXED 4 | 0.006424 | | | SILICON VLY CLEAN WTR | 0.006421 | ✓ | | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT | 0.006294 | | | State of Michigan Trunk Line Revenue 4.00% 11/15/2041 | 0.006212 | | | State of Michigan Trunk Line, Series 2021A | 0.006182 | | | MIAMI-DADE WTSW 4% 10/1/35 | 0.006007 | | | NJ ECON DEV AUTH-QQQ | 0.005878 | | | County of Broward FL Airport System Revenue 4.00% 10/01/2042 | 0.005843 | | | NY ST URBAN DEV CORP | 0.005797 | | | NJ TRANSPRTN TRUST-A | 0.005702 | | | TEXAS WTR DEV BRD REVENUE TXSWTR 10/47 FIXED 4.125 | 0.005680 | | | State of Georgia 4.00% 07/01/2036 | 0.005657 | | | UNIV OF WASHINGTON-A | 0.005623 | | | Los Angeles Department of Water & Power Water System Revenue 5.00% 07/01/2032 | 0.005541 | ✓ | | WAYNE ST UNIV-A-GEN | 0.005399 | | | MET TRANS AUTH-A | 0.005300 | | | UNIV VT & ST AGRIC | 0.005297 | | | PENNSYLVANIA ST COPS | 0.005196 | | | Clifton Higher Education Finance Corp. (Idea Public Schools), Series 2017, Ref. RB | 0.005182 | | | IL ST TOLL HWY AUTH-A | 0.005118 | | | Delaware (State of) River Port Authority, Series 2018 A, RB | 0.004854 | | | PHILADELPHIA PA AUTH FOR INDL DEV UNIV REVENUE | 0.004646 | | | AL ST PUB SCH 4% 11/1/2040 | 0.004597 | | | OHIO ST UNIV | 0.004546 | | | NY ST TWY AUTH-O-REV | 0.004546 | | ## VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Vanguard Municipal Cash Management Fund | 0.021044 | | | NYC TRANSITIONAL-G-1 | 0.003163 | | | CALIFORNIA ST-REF | 0.002916 | | | NEW JERSEY ST ECON DEV AUTH REVENUE | 0.002674 | | | Dallas Independent School District, Series 2026B | 0.002671 | | | State of Illinois, Series D | 0.002608 | | | State of New Jersey, Series 2020A | 0.002551 | | | New Jersey Transportation Trust Fund Authority, Series 2016A1 | 0.002468 | | | Wyandotte County Unified School District No. 500, Series A | 0.002303 | | | E CO AWP JT PWRS-A-1 | 0.002274 | | | CA REGENTS UNIV-CD | 0.002141 | | | OH WTR DEV AUTH | 0.002138 | | | LOS ANGELES UNIF SD-A | 0.002017 | | | State of New Jersey, Series A | 0.001950 | | | NEW YORK-G-G-1 | 0.001902 | | | State of New Jersey, Series 2020A | 0.001871 | | | Los Angeles Department of Water & Power, Series 2025A | 0.001852 | | | OHIO WTR DEV AUTH-A | 0.001835 | | | Bay Area Toll Authority, Series 2026A | 0.001826 | | | State of New Jersey, Series 2020A | 0.001824 | | | State of New Jersey, Series 2020A | 0.001800 | | | LOS ANGELES DEPT-C | 0.001769 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.001768 | | | UNIV OF TEXAS UNIV-A | 0.001724 | | | NJ TPK AUTH-B | 0.001711 | | | MASSACHUSETTS ST | 0.001667 | | | State of California, Series 2025, GO Bonds | 0.001661 | | | State of New Jersey, Series 2020A | 0.001636 | ✓ | | Virginia Public Building Authority, Series 2021A-1 | 0.001600 | | | UNIV OF PITTSBURGH PA OF THE C REGD B/E 5.00000000 | 0.001599 | | | State of California, Series 2023 | 0.001598 | | | WI ST GF APP 5% 5/1/2026Q | 0.001569 | | | NEW YORK CITY-C-REF | 0.001561 | | | KY ST PROP 5% 11/1/2027 | 0.001536 | | | State of California, Series 2007 | 0.001534 | | | WASHINGTON ST WAS 07/26 FIXED 4 | 0.001512 | | | State of North Carolina, Series 2019 | 0.001481 | | | SOUTH CAROLINA ST ASSN OF GOVTL ORGANIZATIONS COPS | 0.001474 | | | CT HLTH & EDUCTNL-B-2 | 0.001467 | | | DE VLY FIN -A | 0.001437 | | | NJ TRANSPRTN TRUST-A | 0.001436 | | | GREAT LAKES WTR AUTH- | 0.001436 | | | E CO AWP JT PWRS-A-2 | 0.001428 | | | State of California | 0.001425 | | | State of Maryland | 0.001421 | | | NEW YORK MUNI WTR-AA2 | 0.001413 | | | STATE OF CALIFORNIA 5.0% 04-01-29 | 0.001402 | | | Washington Metropolitan Area Transit Authority, Series 2021A | 0.001343 | | | State of California, Series 2017 | 0.001342 | | | GUILFORD CO | 0.001340 | | ## Sources - N-PORT (fund A) — accession `0001193125-26-189857` (as of 2026-02-28) - N-PORT (fund B) — accession `0000105563-26-000162` (as of 2026-02-28) --- _Informational only — not investment advice. 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