# Portfolio overlap — BSMS vs VTEC Comparing **Invesco BulletShares 2028 Municipal Bond ETF** (2026-02-28) and **VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF** (2026-02-28). - Shared positions: 244 - Invesco BulletShares 2028 Municipal Bond ETF covered by VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF: 0.05034165997714527037866976472 - VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF covered by Invesco BulletShares 2028 Municipal Bond ETF: 0.05034165997714527037866976472 ## Invesco BulletShares 2028 Municipal Bond ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | TX WTR DEV BRD-B | 0.005543 | | | TRIBOROUGH NY BRIDGE & TUNNEL TRIBOROUGH BRIDGE & TUNNEL AUTHORITY | 0.004273 | | | N TX TOLLWAY AUTH REVENUE | 0.004222 | | | Los Angeles Department of Water & Power, Series 2025A | 0.004001 | ✓ | | Los Angeles Unified School District, Series 2018B-1 | 0.003980 | ✓ | | Montana (State of) Facility Finance Authority (Bozeman Deaconess Health Services Obligated Group), Series 2018, RB | 0.003670 | | | State of Illinois, Series D | 0.003520 | | | Los Angeles Unified School District, Series 2018B-1 | 0.003468 | ✓ | | GRAND PKWY TRANSPRTN | 0.003248 | | | Orlando (City of), FL, Series 2018 B, RB | 0.003043 | | | LONG ISLAND NY PWR AU | 0.003032 | | | State of New Jersey, Series 2020A | 0.002979 | | | ILL ST TOLL 5% 1/1/2042 | 0.002906 | | | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-48 | 0.002529 | | | STATE OF NEW JERSEY 5.0% 12-15-32 | 0.002507 | | | NV CLA 5 05/01/2048 | 0.002416 | | | NJ TRANSPRTN TRUST-A | 0.002406 | | | STATE OF OHIO | 0.002379 | | | State of California, Series 2018 | 0.002345 | ✓ | | NY DORM AUTH-C-REF | 0.002296 | | | Connecticut (State of), Series 2018 C, GO Bonds | 0.002292 | | | PECOS BARSTOW TOYAH TX INDEP SCH DIST | 0.002282 | | | NYC WTR 5% 6/15/2040 | 0.002271 | | | New York (City of), NY, Series 2020 B-1, Ref. GO Bonds | 0.002265 | | | State of California | 0.002246 | ✓ | | State of California, Series 2019 | 0.002219 | ✓ | | Triborough Bridge & Tunnel Authority, Series 2018 B, Ref. RB | 0.002215 | | | Los Angeles (County of), CA Metropolitan Transportation Authority (Green Bonds), Series 2020, RB | 0.002202 | ✓ | | NY MTA TRANSP 4% 11/15/2035 | 0.002185 | | | PENNSYLVANIA ST-1ST | 0.002166 | | | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.002162 | | | State of California, Series 2022 | 0.002136 | ✓ | | State of Illinois, Series 2020B | 0.002129 | | | PENNSYLVANIA TURNPIKE COMMISSI PASTRN 12/43 FIXED 5 | 0.002124 | | | N TX TOLLWAY AUTH REVENUE | 0.002116 | | | UNIV OF CALIFORNIA-AZ | 0.002106 | ✓ | | NEW YORK-D-SUBSER D1 | 0.002098 | | | Los Angeles Unified School District, Series 2018B-1 | 0.002089 | ✓ | | New York (City of), NY, Subseries 2024 C-1, GO Bonds | 0.002081 | | | STATE OF CALIFORNIA 5.0% 11-01-28 | 0.002039 | ✓ | | STATE OF NEW YORK ST AID WITHHLDG 5.0% 07-15-43 | 0.002032 | | | NY DORM AUTH-C-REF | 0.002031 | | | NV LASGEN 5 07/01/2043 | 0.002030 | | | NYC TRANS FIN-S-3 | 0.002029 | | | New Jersey Transportation Trust Fund Authority | 0.002000 | | | State of Maryland, Series A2 | 0.001980 | | | New York (City of), NY, Series 2020 C, Ref. GO Bonds | 0.001979 | | | Harris (County of), TX Toll Road Authority (The), Series 2022 A, Ref. RB | 0.001962 | | | Harris (County of), TX Toll Road Authority (The), Series 2018 A, Ref. RB | 0.001951 | | | STATE OF NEW YORK ST AID WITHHLDG 5.0% 07-15-35 | 0.001942 | | ## VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Southern California Public Power Authority, Series A | 0.005932 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.005505 | | | Bay Area Toll Authority, Series 2026A | 0.005146 | | | Irvine Ranch Water District, Series 2009 A, VRD RB | 0.003231 | | | LOS ANGELES UNIF SD-A | 0.003227 | | | LOS ANGELES UNIF SD-A | 0.003220 | | | Bay Area Toll Authority, Series 2023 A, VRD Ref. RB | 0.003088 | | | LOS ANGELES UNIF SD-A | 0.002989 | | | Los Angeles Department of Water & Power, Series 2025A | 0.002720 | ✓ | | STATE OF CALIFORNIA 4.0% 03-01-36 | 0.002497 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.00000000 | 0.002483 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.002421 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.50000000 | 0.002383 | | | E CO AWP JT PWRS-A-1 | 0.002360 | | | STATE OF CALIFORNIA | 0.002358 | | | SAN FRANCISCO USD | 0.002302 | | | UNIV OF CALIFORNIA CA | 0.002238 | | | IRVINE CA IMPT BOND ACT 1915 | 0.002207 | | | State of California | 0.002121 | | | CALIFORNIA ST EDUCTNL | 0.001954 | | | BAY AREA TOLL AUTHORITY FRN 04-01-55 | 0.001950 | | | LOS ANGELES DEPT-C | 0.001930 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001924 | | | LOS ANGELES UNIF SD-A | 0.001918 | | | State of California | 0.001913 | | | BAY AREA CA TOLL AUTH | 0.001888 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.001879 | | | IRVINE WTR-RF-A1-VAR | 0.001748 | | | BAY AREA TOLL AUTHORI VAR | 0.001706 | | | University of California, Series 2024 BW, Ref. RB | 0.001701 | | | Toll Road Sr Lien Refunding RB Series 2021A | 0.001691 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001673 | | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2017 B, RB | 0.001672 | | | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C | 0.001662 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.001629 | | | State of California 5.00% 03/01/2055 | 0.001623 | | | Los Angeles (County of), CA Metropolitan Transportation Authority, Series 2024, GO Bonds | 0.001620 | | | STATE OF CALIFORNIA 5.0% 10-01-35 | 0.001618 | | | LOS ANGELES UNIF SD-A | 0.001609 | | | State of California | 0.001587 | | | STATE OF CALIFORNIA 5.0% 04-01-29 | 0.001586 | | | State of California, Series 2007 | 0.001569 | | | LOS ANGELES DEPT-B | 0.001530 | | | Los Angeles Unified School District, Series 2023QRR | 0.001520 | | | Santa Monica Community College District, Series 2018A | 0.001504 | ✓ | | State of California, Series 2025, GO Bonds | 0.001497 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000 | 0.001486 | | | STATE OF CALIFORNIA | 0.001464 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001462 | | | Sacramento Municipal Utility District, Series 2025F | 0.001427 | | ## Sources - N-PORT (fund A) — accession `0001657201-26-000362` (as of 2026-02-28) - N-PORT (fund B) — accession `0000783401-26-000072` (as of 2026-02-28) --- _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._ _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._ _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. See _