# Portfolio overlap — BSMS vs VTEL Comparing **Invesco BulletShares 2028 Municipal Bond ETF** (2026-02-28) and **VANGUARD LONG-TERM TAX-EXEMPT BOND ETF** (2026-01-31). - Shared positions: 105 - Invesco BulletShares 2028 Municipal Bond ETF covered by VANGUARD LONG-TERM TAX-EXEMPT BOND ETF: 0.02786563677453773047555214206 - VANGUARD LONG-TERM TAX-EXEMPT BOND ETF covered by Invesco BulletShares 2028 Municipal Bond ETF: 0.02786563677453773047555214207 ## 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 LONG-TERM TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Vanguard Municipal Cash Management Fund | 0.009287 | | | State of California, Series 2025, GO Bonds | 0.002620 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.002427 | | | State of California, Series 2025, GO Bonds | 0.002080 | | | BATTERY PK REV 5% 11/1/2053 | 0.001565 | | | NY MTA TRANSP 5% 11/15/2050 | 0.001548 | | | MIAMI-DADE WTSW 4% 10/1/49 | 0.001544 | | | Washington Metropolitan Area Transit Authority, Series 2017 B, RB | 0.001528 | | | NY CITY TRANS FIN-F-1 | 0.001501 | | | Tender Option Bond Trust Receipts/Certificates | 0.001381 | | | State of California, Series 2025, GO Bonds | 0.001329 | | | Hudson Yards Infrastructure Corp., Series 2017 A, Ref. RB | 0.001323 | | | NY TRANS FIN AUTH-C | 0.001315 | | | IN MUNI PWR AGY-A-REF | 0.001312 | | | NY TRANS FIN AUTH-C | 0.001293 | | | PENNSYLVANIA TURNPIKE COMMISSION 5.0% 12-01-41 | 0.001286 | | | Lower Colorado River Authority (LCRA Transmission Services Corp.), Series 2022, Ref. RB | 0.001285 | | | GRAND PKWY TRANSPRTN | 0.001263 | ✓ | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 5.0% 06-15-50 | 0.001250 | | | NJ TRANSPRTN TRUST-A | 0.001240 | | | ILL ST TOLL 5% 1/1/45 | 0.001228 | | | San Diego County Regional Airport Authority, Series 2017 A | 0.001194 | | | Tender Option Bond Trust Receipts/Certificates | 0.001185 | | | CA ST PUB WKS-C-REF | 0.001185 | | | MA CMNWLTH-SER B | 0.001181 | | | UNIV OF CALIFORNIA CA REVENUES UNVHGR 05/52 FIXED 5 | 0.001173 | | | UNIV OF MICHIGAN MI | 0.001157 | | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.001157 | | | NEW YORK MUNI-AA-1 | 0.001138 | | | TX WTR DEV BRD | 0.001131 | | | Hudson Yards Infrastructure Corp., Series 2017 A, Ref. RB | 0.001126 | | | FORT LAUDERDALE FL WTR & SWR REVENUE | 0.001112 | | | STATE OF CALIFORNIA 5.0% 08-01-37 | 0.001100 | | | NYC TRANSITIONAL-F-1 | 0.001094 | | | NYC NY 5% 4/1/2041 | 0.001089 | | | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-55 | 0.001086 | | | STATE OF NEW YORK ST AID WITHHLDG 5.0% 07-15-36 | 0.001084 | ✓ | | ENERGY NW/WPPS 5% 7/1/2037 | 0.001072 | | | STATE OF ILLINOIS S 5.00% | 0.001069 | | | NYC WTR 5% 6/15/2041 | 0.001068 | | | NYC WTR 5% 6/15/2045 | 0.001057 | | | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2016A-1 | 0.001056 | | | Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2021 B, Ref. RB | 0.001040 | | | SPRING TX INDEP SCH DIST | 0.001039 | | | STATE OF NEW JERSEY 5.0% 06-15-40 | 0.001036 | | | NY TRANS FIN AUTH-D-1 | 0.001036 | | | NYC TRANS FIN-S-3 | 0.001032 | | | NYC NY 5% 8/1/2047 | 0.001031 | | | MANSFIELD TX INDEP SCH DIST | 0.001030 | | | HUDSON YARDS NY 4% 2/15/44 | 0.001029 | | ## Sources - N-PORT (fund A) — accession `0001657201-26-000362` (as of 2026-02-28) - N-PORT (fund B) — accession `0000225997-26-000119` (as of 2026-01-31) --- _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. 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