# Portfolio overlap — FSTFX vs VWSTX

Comparing **Fidelity Limited Term Municipal Income Fund** (2026-03-31) and **VANGUARD ULTRA-SHORT-TERM TAX-EXEMPT FUND** (2026-01-31).

- Shared positions: 131
- Fidelity Limited Term Municipal Income Fund covered by VANGUARD ULTRA-SHORT-TERM TAX-EXEMPT FUND: 0.07588721189354852512605227612
- VANGUARD ULTRA-SHORT-TERM TAX-EXEMPT FUND covered by Fidelity Limited Term Municipal Income Fund: 0.07588721189354852512605227613

## Fidelity Limited Term Municipal Income Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Fidelity Municipal Cash Central Fund | 0.054522 |  |
| SOUTHEAST ENERGY-E | 0.013502 |  |
| WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE | 0.009282 |  |
| WA ST HLTH CAR 5% 10/1/2035 | 0.007430 |  |
| MTRO WA DC ARPT 5% 10/1/2028 @ | 0.007421 |  |
| NYC NY 5% 8/1/2028 | 0.006804 |  |
| BLACK BELT ENERGY GAS VAR | 0.006642 | ✓ |
| Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C | 0.006628 |  |
| WA ST HLTH CAR 5% MT | 0.006157 |  |
| WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE | 0.006032 |  |
| WA ST HLTH CAR 5% 10/1/2030 | 0.005946 | ✓ |
| MAIN STR NAT GA 4% MT | 0.005921 | ✓ |
| WHITING IN ENVRNMNTL FACS REVE REGD V/R B/E AMT 5.00000000 | 0.005535 |  |
| MAIN STR NAT GA 4% 07/01/2052 MT | 0.005236 | ✓ |
| School District of Broward County, Series 2025A | 0.005073 |  |
| OKLAHOMA CTY OK 3% 7/1/2026 | 0.005015 |  |
| CHICAGO IL BRD OF EDU | 0.004873 |  |
| DFW ARPT 5% 11/1/2050 MT @ | 0.004846 |  |
| California Community Choice Financing Authority | 0.004752 |  |
| WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE | 0.004748 | ✓ |
| NYC NY 5% 8/1/2027 | 0.004699 |  |
| State of New Jersey, Series 2020A | 0.004648 |  |
| NY TRANS CORP 5% 12/1/2026 @ | 0.004642 |  |
| UT CNTY UT HOSP 5% MT | 0.004587 | ✓ |
| MTRO WA DC ARPT 5% 10/1/2026@ | 0.004504 |  |
| NY TRANS CORP 5% 12/1/2027 @ | 0.004471 |  |
| TN TNSUTL 5 11/01/2034 | 0.004459 |  |
| COLORADO ST HLTH FACS AUTH REVENUE | 0.004449 | ✓ |
| TX SANUTL 02/01/2055 | 0.004386 | ✓ |
| PORT NY NJ 5% 12/1/2028 @ | 0.004341 |  |
| KY HSG SFM 6% 7/1/2054 | 0.004284 |  |
| MAIN STR NAT GA 5% MT | 0.004283 |  |
| LOVE FLD MOD TX 5% 11/1/2029 @ | 0.004283 |  |
| MINNEAPOLS MN 5% MT | 0.004278 | ✓ |
| NYC NY 5% 8/1/2028 | 0.004170 |  |
| TARRANT TX EDFC 5% MT | 0.004056 | ✓ |
| LOVE FLD MOD TX 5% 11/1/2028 @ | 0.004024 |  |
| OHIO HOUSING FINANCE AGENCY FNMA/GNMA/FHLMC 3.25% 03-01-51 | 0.003872 |  |
| NJ ST TRANSN TR FD | 0.003810 |  |
| MAIN STR NAT GA 5% MT | 0.003784 |  |
| NE CENPWR 08/01/2055 | 0.003738 | ✓ |
| GRAND PKWY TRANSPRTN | 0.003720 | ✓ |
| CALIFORNIA COMMUNITY VAR | 0.003678 |  |
| SAN ANTONIO TX ELEC   GAS REVE SANUTL 12/45 ADJUSTABLE VAR | 0.003660 | ✓ |
| HARRIS TX CED 5% MT | 0.003650 | ✓ |
| New Jersey Transportation Trust Fund Authority | 0.003626 |  |
| SOUTHEAST ENRG 5% MT | 0.003621 | ✓ |
| GEORGIA POWER CO (MPT) 2.9% 08-01-43 | 0.003593 | ✓ |
| MAIN STR NAT GA 5% MT | 0.003548 |  |
| HI ST 5% 10/1/2026 | 0.003463 |  |

## VANGUARD ULTRA-SHORT-TERM TAX-EXEMPT FUND — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Vanguard Municipal Cash Management Fund | 0.022051 |  |
| NUVEEN AMT-FREE MUNI | 0.012471 |  |
| MUNIBOND | 0.010940 |  |
| Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A | 0.008989 | ✓ |
| MUNIBOND | 0.007923 |  |
| CA STWD CMNTYS DEV-A | 0.007508 |  |
| MAIN STR NAT GA 4% 3/1/2050 | 0.007480 |  |
| California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.006397 |  |
| NUVEEN AMT-FREE QUALITY MUNICIPAL INCOME FUND | 0.006306 |  |
| KY PUB ENERGY AUTH-A | 0.006264 |  |
| HARRIS ED-VAR-REF-C-1 | 0.006002 |  |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.005905 |  |
| NY NY CITY HS(NEW YORK MHSG) 3.25% 2/1/30 MT 65 | 0.005805 |  |
| ALLGNY CNTY HDA 0% 11/15/2047 | 0.005626 |  |
| MAIN STR NAT GA 4% MT | 0.005377 | ✓ |
| MAIN STR NAT GA 4% 07/01/2052 MT | 0.005285 | ✓ |
| RESTRUCTURED-SER A1 | 0.004930 |  |
| WI HLTH & EDUCTL-C | 0.004442 |  |
| MN MUNI GAS AGY-A | 0.004330 |  |
| ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY | 0.004160 |  |
| City of San Antonio TX | 0.004157 |  |
| NY ST HSG FIN AGY D-2 | 0.004146 |  |
| NY ST HSG FIN AGY-C-2 | 0.004119 |  |
| LOS ANGELES DEPT-C | 0.004118 |  |
| Black Belt Energy Gas District (The), Series 2022 B-1, RB | 0.003939 |  |
| BLACK BELT ENER VAR MT | 0.003882 | ✓ |
| CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.003856 |  |
| BLACK BELT ENERGY GAS VAR | 0.003790 | ✓ |
| BLACK BELT ENERGY GAS VAR | 0.003777 |  |
| TNDR OPT-FLTRS-XG0404 | 0.003753 |  |
| CALIFORNIA COMMUNITY VAR | 0.003579 |  |
| HORSEHEADS CSD-BANS | 0.003523 |  |
| PA ECON DEV FIN AUTH | 0.003413 |  |
| MN MUNI GAS AUTH-B | 0.003389 |  |
| JPM-PUTTERS-5099 | 0.003379 |  |
| PASADENA TX ISD 1.54% MT | 0.003309 |  |
| TN TGYPWR 12/01/2051 | 0.003259 |  |
| TNDR OPT-FLTRS-008 | 0.003158 |  |
| NY ST HSG FIN AGY-D2 | 0.003155 |  |
| Nuveen AMT-Free Municipal Credit Income Fund, Series B | 0.003150 |  |
| TARRANT TX EDFC 5% MT | 0.003086 | ✓ |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT | 0.003081 |  |
| California Community Choice Financing Authority, Series B-1 | 0.003010 |  |
| Energy Southeast Cooperative District, Alabama, Energy Supply Revenue Bonds, Series 2025B | 0.003002 |  |
| TNDR OPT-FLTR-MS0041 | 0.002990 |  |
| GA WELLSTAR HLTH 25A L=BA V7 | 0.002974 |  |
| TN TNSUTL 05/01/2053 | 0.002931 |  |
| Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2025F | 0.002847 |  |
| Metropolitan Government of Nashville & Davidson County TN | 0.002847 |  |
| TENNERGY CORP TN GAS REVENUE TENNERGY CORP/TN | 0.002836 |  |


## Sources

- N-PORT (fund A) — accession `0000035402-26-003413` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/35373/000003540226003413/0000035402-26-003413-index.htm>
- N-PORT (fund B) — accession `0000225997-26-000121` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/225997/000022599726000121/0000225997-26-000121-index.htm>

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