# Portfolio overlap — GCAL vs PBCAX Comparing **Goldman Sachs Dynamic California Municipal Income ETF** (2026-02-28) and **PGIM California Muni Income Fund** (2026-02-27). - Shared positions: 27 - Goldman Sachs Dynamic California Municipal Income ETF covered by PGIM California Muni Income Fund: 0.07852377271463113321616429114 - PGIM California Muni Income Fund covered by Goldman Sachs Dynamic California Municipal Income ETF: 0.07852377271463113321616429114 ## Goldman Sachs Dynamic California Municipal Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Mulitple Capital Projects I, Build America Taxable Bond Series 2 | 0.017073 | | | GUAM WTRWKS AUTH-A | 0.011494 | | | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK NATIONAL CHARTR | 0.010997 | | | UNITED STATES VIRGIN ISLANDS FEDERAL EXCISE TAX 5.0% 10-01-39 | 0.010141 | | | CALIFORNIA ST MUNI FIN AUTH MF HSG REVENUE | 0.009569 | | | UNIV OF CALIFORNIA CA RGTS MED UNVHGR 05/45 ADJUSTABLE VAR | 0.009500 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009355 | ✓ | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.009332 | | | RESTRUCTURED-SER A1 | 0.009137 | | | CA SUOSCD 0 02/01/2031 | 0.008981 | | | Santa Rita Union Elementary School District Sch Facs Improvement Dist No 2022-1 | 0.008493 | | | Chino Community Facilities District | 0.008440 | | | STHERN CA LOGISTICS-A | 0.008430 | | | City of Glendale, Series 2025 | 0.008416 | | | SAN MATEO CA US 5% 9/1/2032 | 0.008373 | | | CA OXNSCD 0 02/01/2031 | 0.008359 | ✓ | | CITY & COUNTY SAN FRANCISCO CA INFRASTRUCTURE & REVITALIZATION FING DIST 1 FACS 5.0% 09-01-35 | 0.008324 | | | LOS ANGELES WTR & PWR | 0.008183 | | | TRANSBAY JT PWRS-A | 0.008035 | | | SAN MARCOS SD-B | 0.007980 | ✓ | | REDDING JT PWRS -A | 0.007771 | | | CA TXB-VAR PURP | 0.007533 | | | UNIV OF CALIFORNIA CA | 0.007479 | | | CA MUNI FIN AUTH-A | 0.007443 | | | State of California, Series 2007 | 0.007427 | ✓ | | California Community Choice Financing Authority, Series F | 0.007354 | ✓ | | CALIFORNIA ST HLTH FACS FING A CASMED 08/48 FIXED 4 | 0.007326 | | | SACRAMENTO CNTY CA ARPT SYS REVENUE | 0.007316 | | | RESTRUCTURED-SER A-2 | 0.007290 | | | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE | 0.007244 | | | CA PCFA WTR FUR 5% 7/1/2029 | 0.007221 | | | PALM DESERT -REF | 0.007124 | | | GUAM PWR AUTH REVENUE GUAM POWER AUTHORITY | 0.007098 | | | CALIFORNIA ST MUNI FIN AUTH RE CALIFORNIA MUNICIPAL FINANCE AUTHORITY | 0.007026 | | | Los Angeles County Public Works Financing Authority, Series 2025, RB | 0.006957 | | | UNIV OF CALIFORNIA CA REVENUES | 0.006956 | ✓ | | LOS ANGELES WTR-A-REF | 0.006933 | | | Inglewood Joint Powers Authority, Series 2025 | 0.006889 | | | City of San Jose CA | 0.006870 | | | Municipal Improvement Corp of Los Angeles | 0.006865 | | | Goldman Sachs Trust - Goldman Sachs Financial Square Treasury Instruments Fund | 0.006861 | | | Los Angeles (City of), CA Department of Airports, Series 2018 B, Ref. RB | 0.006691 | | | Glendale (City of), AZ, Series 2025, RB | 0.006661 | | | Territory of Guam, Series 2025G | 0.006620 | | | Sacramento (County of), CA, Series 2018 C, Ref. RB | 0.006592 | | | California Health Facilities Financing Authority | 0.006527 | | | SACRAMENTO-WTR REV | 0.006513 | | | City of Atwater CA Wastewater Revenue | 0.006507 | | | UNITED AIRLINES INC 4.0% 07-15-29 | 0.006502 | ✓ | | American Samoa Economic Development Authority, Series 2025 B | 0.006478 | | ## PGIM California Muni Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | (PIPA070) PGIM Core Government Money Market Fund | 0.038692 | | | State of California, Series 2024, GO Bonds | 0.013956 | | | CALIFORNIA COMMUNITY VAR | 0.013754 | | | LONG BEACH CALIF BD FIN AUTH NAT GAS PUR REV SER A | 0.011517 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.011475 | | | CA STWD CMNTYS DEV-B | 0.009551 | | | UNIV OF CALIFORNIA CA REVENUES | 0.009485 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB | 0.009113 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.008859 | ✓ | | California Infrastructure & Economic Development Bank | 0.008728 | | | CALIFORNIA COMMUNITY VAR | 0.008684 | | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.008495 | | | CA STWD CMNTYS-A | 0.008314 | | | California (State of) Housing Finance Agency, Series 2019 A-2, RB | 0.008285 | | | California Community Choice Financing Authority, Series F | 0.008274 | ✓ | | CALIFORNIA ST MUNI FIN AUTH MF REGD B/E FHLMC C 3.75000000 | 0.008227 | | | CA ST PUB WKS-C-REF | 0.008046 | | | CALIFORNIA COMMUNITY VAR | 0.008016 | | | San Diego County Regional Airport Authority | 0.007824 | | | LOS ANGELES DEPT-B | 0.007671 | | | City of Santa Clara CA Electric Revenue | 0.007609 | | | KAISER FOUNDATION HOSPITALS (MPT) 5.0% 06-01-41 | 0.007540 | | | PROVIDENCE ST JOSEPH HEALTH OBLIGATED GROUP (MPT) 5.0% 10-01-39 | 0.007380 | | | CA OXNSCD 0 02/01/2031 | 0.006996 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000 | 0.006796 | | | STHRN CA PUB PWR-B | 0.006772 | | | STATE OF CALIFORNIA | 0.006766 | | | CA CASGEN 4.05 07/20/2041 | 0.006764 | | | DESERTXPRESS ENTERPRISES LLC (MPT) 3.5% 01-01-65 | 0.006692 | | | State of California | 0.006592 | | | California Community Choice Financing Authority, Series 2026 A-1 | 0.006581 | ✓ | | PORT OF OAKLAND CA REGD N/C B/E AMT 5.00000000 | 0.006558 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2022 A-1, RB | 0.006525 | | | UNITED AIRLINES INC 4.0% 07-15-29 | 0.006462 | ✓ | | University of California | 0.006397 | | | Port of Los Angeles 5.00% 08/01/2035 | 0.006252 | | | UNIV OF CALIFORNIA CA | 0.006169 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.006126 | | | Vernon (City of), CA, Series 2021 A, RB | 0.006032 | ✓ | | STHRN CA PUB PWR-A | 0.006021 | | | CALIFORNIA ST MUNI FIN AUTH MU CASMFH 02/41 ADJUST OID VAR | 0.005981 | | | CALIFORNIA COMMUNITY VAR | 0.005971 | | | CA CCEDEV 5 03/01/2036 | 0.005820 | ✓ | | Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village), Series 2015 A, RB | 0.005760 | | | California (State of) Health Facilities Financing Authority (Sutter Health), Series 2018 A, RB | 0.005754 | | | CA STWD CMNTYS-H | 0.005749 | | | State of California | 0.005746 | | | University of California, Series 2026 CE | 0.005735 | | | CALIFORNIA ST-A-REF | 0.005671 | | | State of California | 0.005665 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-015189` (as of 2026-02-28) - N-PORT (fund B) — accession `0000940400-26-014268` (as of 2026-02-27) --- _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 _