# Portfolio overlap — FSMB vs LTMFX Comparing **First Trust Short Duration Managed Municipal ETF** (2026-04-30) and **Thornburg Limited Term Municipal Fund** (2026-03-31). - Shared positions: 43 - First Trust Short Duration Managed Municipal ETF covered by Thornburg Limited Term Municipal Fund: 0.05469830240245258162985773725 - Thornburg Limited Term Municipal Fund covered by First Trust Short Duration Managed Municipal ETF: 0.05469830240245258162985773725 ## 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 | | ## Thornburg Limited Term Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | MAIN STR NAT GA 5% MT | 0.020351 | ✓ | | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN | 0.019453 | | | NJ TRANSP 5% 6/15/27 | 0.014159 | | | MAIN STR NAT GA 4% 9/1/2052 | 0.013961 | ✓ | | MAIN STR NAT GA 5% MT | 0.013107 | | | MAIN STR NAT GA 5% MT | 0.012525 | | | State of Illinois, Series D | 0.012492 | | | TN ENERGY ACQ CORP-A | 0.012030 | | | NY HSG FIN AGY-A | 0.011378 | | | TEXAS ST MUNI GAS ACQUISITION TXSUTL 12/30 FIXED 5 | 0.011205 | | | PORT PORT ARTHUR TX NAV DIST VAR-MOTIVA ENTERPRISES PJ-A | 0.010525 | | | PEFA INC VAR | 0.009319 | ✓ | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2022A-1 | 0.008868 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.008405 | | | TN TGYPWR 12/01/2051 | 0.006973 | | | NYC-F-5 | 0.006837 | | | IN FIN HSR 0% 10/1/2060 | 0.006768 | | | Maricopa County Industrial Development Authority, Banner Health, Series 2023A3 | 0.006539 | | | BLACK BELT ENERGY GAS VAR | 0.006502 | ✓ | | PENNSYLVANIA ST ECON DEV FING PASMED 03/60 ADJUSTABLE VAR | 0.006331 | | | CALIFORNIA COMMUNITY VAR | 0.006157 | ✓ | | MS BUS FIN-G-CHEVRON | 0.006132 | | | OREGON ST HLTH & SCIENCE UNIV REVENUE | 0.006012 | | | MAIN STR NAT GA 4% 07/01/2052 MT | 0.005968 | ✓ | | CTR PLN ENG GAS 5% MT | 0.005685 | ✓ | | BLACK BELT ENERGY GAS VAR | 0.005665 | ✓ | | Main Street Natural Gas, Inc., Series 2025B | 0.005663 | | | PATRIOTS EN GRP 5.25% MT | 0.005076 | | | CONNECTICUT ST SPL TAX OBLIG REVENUE | 0.005026 | | | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV | 0.004903 | | | Black Belt Energy Gas District | 0.004902 | | | FT BEND TX ISD 4% 8/1/2054 | 0.004776 | | | State of Illinois, Series D | 0.004678 | | | TX MUNI GAS ACQ VI | 0.004662 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024A-1 | 0.004505 | | | California Community Choice Financing Authority, Series 2023 E-1 | 0.004091 | | | State of Connecticut, Series 2016B | 0.004060 | | | NJ TRANSP 5% 12/15/2028 | 0.004038 | | | Louisville/Jefferson County Metropolitan Government | 0.004034 | | | Canadian (County of), OK Educational Facilities Authority (Yukon Public Schools), Series 2023, RB | 0.004005 | | | PENNSYLVANIA ST ECON DEV FING PASDEV 08/37 ADJUSTABLE VAR | 0.003997 | | | PENNSYLVANIA ST | 0.003982 | | | Halifax County Industrial Development Authority, Virginia Electric and Power, Series 2010A | 0.003969 | | | MUNIBOND | 0.003877 | | | City of Burlington KS | 0.003768 | | | Energy Southeast A Cooperative District, Series B-1 | 0.003727 | | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.003666 | | | TN SHEMED 5 06/01/2035 | 0.003610 | | | CT HSG FIN AUTH-D2 | 0.003600 | | | CHARLOTTE-MECKLENBURG NC HOSP CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY/THE | 0.003591 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-025147` (as of 2026-04-30) - N-PORT (fund B) — accession `0001410368-26-051182` (as of 2026-03-31) --- _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. See _