# Portfolio overlap — BTMSX vs FSMB Comparing **Baird Short-Term Municipal Bond Fund** (2026-03-31) and **First Trust Short Duration Managed Municipal ETF** (2026-04-30). - Shared positions: 35 - Baird Short-Term Municipal Bond Fund covered by First Trust Short Duration Managed Municipal ETF: 0.04501971098405918032689590970 - First Trust Short Duration Managed Municipal ETF covered by Baird Short-Term Municipal Bond Fund: 0.04501971098405918032689590970 ## Baird Short-Term Municipal Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | US TREASURY N/B | 0.015469 | | | Rural Water Financing Agency | 0.004848 | | | Federated Institutional Tax-Free Cash Trust | 0.004809 | | | PUBLIC FIN AUTH WI REVENUE REGD V/R OID B/E 4.00000000 | 0.004608 | | | HARRIS TX CED 0% 5/15/2050 | 0.004554 | | | State of Maryland | 0.004401 | | | SEATTLE WA MUNI LIGHT & PWR REVENUE | 0.004359 | | | VAN WERT HEALTH OBLIGATED GROUP 6.125% 12-01-49 | 0.004341 | | | SOUTHEAST ENERGY-E | 0.004270 | | | TX TRANSPRTN-B-REF | 0.004234 | | | TX TMGUTL 01/01/2054 | 0.004105 | ✓ | | TX TPK AUTH-UNREF-A | 0.003987 | | | Colorado Housing and Finance Authority | 0.003950 | | | BLACK BELT ENERGY GAS VAR | 0.003845 | | | MOBILE AL INDL DEV BRD POLL CO REGD V/R B/E 3.92000000 | 0.003742 | | | TX GAS ACQ VAR-SUB-C | 0.003692 | | | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE | 0.003628 | | | Long Island Power Authority, Series 2025B | 0.003560 | | | TN TNSUTL 5 11/01/2034 | 0.003535 | ✓ | | EQUITABLE SCHOOL REVOLVING FUND LLC OBLIGATED GROUP 5.0% 11-01-28 | 0.003475 | | | WAUNAKEE WI CMNTY SCH DIST | 0.003473 | | | Massachusetts Bay Transportation Authority Sales Tax, Series 2016 A | 0.003469 | | | N TX HWY CABS-REF-1ST | 0.003421 | | | City of Virginia MN | 0.003338 | | | TX CLIEDU 02/15/2055 | 0.003322 | | | DFW ARPT 5% 11/1/2050 MT @ | 0.003315 | | | NYC HSG DEV CORP-B-2 | 0.003290 | ✓ | | PENNSYLVANIA TURNPIKE VAR | 0.003206 | | | COLORADO HOUSING AND FINANCE AUTHORITY | 0.003142 | | | Deerfield Community School District | 0.003142 | | | Kentucky Public Energy Authority | 0.003138 | | | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | 0.003125 | | | LA PORTE IN SWR WKS REVENUE REGD OID B/E 3.75000000 | 0.003096 | | | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 5, Series 2023A | 0.003074 | | | OKLAHOMA ST HSG FIN AGY SF MTG OKSSFM 09/56 FIXED 6.5 | 0.003061 | | | FAIRFAX C VA 5% 1/1/2045 MT | 0.003059 | ✓ | | State of Illinois Sales Tax, Series 2016A | 0.002940 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.002914 | | | PORT OF MORROW OR REGD B/E 5.15000000 | 0.002890 | | | HUNTSVILLE HLTH-VAR-A | 0.002877 | | | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN | 0.002855 | | | Citizens Memorial Hospital District, Series 2024 A | 0.002852 | | | TARRANT TX EDFC 5% 7/1/2053 MT | 0.002811 | | | Orange County Housing Finance Authority | 0.002721 | | | Miami-Dade (County of), FL Housing Finance Authority (Amber Station), Series 2025, RB | 0.002679 | | | Generation Park Management District | 0.002663 | | | City of Edwardsville KS | 0.002645 | | | Michigan State Housing Development Authority | 0.002635 | | | City of Linn Valley KS | 0.002583 | | | TX R-MRB 6.25% 1/1/2056 | 0.002488 | | ## First Trust Short Duration Managed Municipal ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C | 0.010781 | | | County of Utah UT | 0.008459 | | | OH OHSDEV 11/01/2039 | 0.008131 | | | Wisconsin (State of) Public Finance Authority (Duke Energy Progress), Series 2022, Ref. RB | 0.007243 | | | St. John the Baptist (Parish of), LA (Marathon Oil Corp.), Series 2017, Ref. RB | 0.006812 | | | Main Street Energy, Inc., Series D | 0.006590 | | | Palm Beach (County of), FL Health Facilities Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB | 0.006334 | | | NYC MUNI WTR FIN-BB | 0.005921 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A | 0.005890 | ✓ | | Black Belt Energy Gas District | 0.005821 | | | BLACK BELT ENERGY GAS VAR | 0.005787 | | | NM MUNI ENERGY ACQ AU | 0.005721 | | | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE | 0.005317 | | | LOS ANGELES CA DEPT OF ARPTS A REGD B/E AMT 5.00000000 | 0.005316 | | | ALLEGHENY HOSP DEV-A | 0.005231 | | | WHITING IN ENVRNMNTL FACS REVE REGD V/R B/E AMT 5.00000000 | 0.005204 | | | MD CMNTY DEV-D-2 | 0.005135 | | | UNITED AIRLINES INC 4.0% 07-15-29 | 0.005107 | | | WASTE MANAGEMENT INC (MPT) 3.45% 11-01-44 | 0.005076 | | | NEW YORK NY REGD V/R B/E 2.65000000 | 0.005075 | | | NORTH CAROLINA ST HSG FIN AGYM REGD V/R B/E 5.00000000 | 0.004917 | ✓ | | TX TMGUTL 01/01/2054 | 0.004815 | ✓ | | FARM N MEX PCR 0% 6/1/2040 MT | 0.004764 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B | 0.004620 | | | DFW ARPT 5% 11/1/2031 @ | 0.004612 | | | FLORIDA DEV FIN CORP HLTHCAREFACS REVENUE | 0.004581 | | | City of Atlanta GA Department of Aviation | 0.004563 | | | TN TNSUTL 05/01/2053 | 0.004354 | | | City of Philadelphia PA Airport Revenue | 0.004342 | | | FAIRFAX C VA 5% 1/1/2045 MT | 0.004323 | ✓ | | WASTE MANAGEMENT INC (MPT) 3.45% 10-01-41 | 0.004255 | | | NORTH BLOCK ASSOCIATES LLC HUD SECT 8 FHA 221(D)(4) (MPT) 3.4% 02-01-29 | 0.004249 | | | COUNTY OF TRIMBLE KY TRMENV 06/33 FIXED 3.75 | 0.004234 | | | ARKANSAS DEV FIN AUTH ENVIRONM REGD V/R B/E AMT 4.00000000 | 0.004223 | | | MOBILE PCR-VAR-AL PWR | 0.004192 | | | MTRO WA DC ARPT 5% 10/1/2031 @ | 0.004155 | | | LEHIGH PA_IDA 3% 9/1/2029 | 0.004146 | | | INDIANAPOLIS IN LOCAL PUBLIC I REGD N/C B/E AMT 5.00000000 | 0.004125 | | | State of Illinois, Series C | 0.004124 | | | NORTHWESTERN CORP 3.875% 07-01-28 | 0.004114 | ✓ | | HOUSTON-UTL SYS-B-REF | 0.004101 | | | DE ST EDA 3.60% 1/1/31 | 0.004093 | | | PEFA INC VAR | 0.004075 | ✓ | | TENNERGY CORP TN GAS REVENUE TENNERGY CORP/TN | 0.004035 | | | NY TRANS CORP 5% 1/1/2032 @ | 0.004010 | | | SOUTHEAST ENERGY-F | 0.003984 | | | SOUTHEAST ENERGY AUTH VAR | 0.003963 | | | South Carolina Jobs-Economic Development Authority, Series 2023A | 0.003914 | | | MTRO WA DC ARPT 5% 10/1/2035 @ | 0.003899 | | | NYC HSG DEV CORP-F-2A | 0.003825 | ✓ | ## Sources - N-PORT (fund A) — accession `0000894189-26-014925` (as of 2026-03-31) - N-PORT (fund B) — accession `0000940400-26-025147` (as of 2026-04-30) --- _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 _