# Portfolio overlap — GSMIX vs FSMUX Comparing **Goldman Sachs Dynamic Municipal Income Fund** (2026-03-31) and **Strategic Advisers Municipal Bond Fund** (2026-02-28). - Shared positions: 593 - Goldman Sachs Dynamic Municipal Income Fund covered by Strategic Advisers Municipal Bond Fund: 0.08706251687790015772256489353 - Strategic Advisers Municipal Bond Fund covered by Goldman Sachs Dynamic Municipal Income Fund: 0.08706251687790015772256489353 ## Goldman Sachs Dynamic Municipal Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | RESTRUCTURED-SER A-2 | 0.010778 | ✓ | | Goldman Sachs Trust - Goldman Sachs Financial Square Treasury Instruments Fund | 0.007555 | | | MASSACHUSETTS ST | 0.005764 | | | BANNER HEALTH OBLIGATED GROUP (MPT) FRN 01-01-37 | 0.005350 | ✓ | | SOUTHEAST ENERGY-E | 0.005063 | ✓ | | SOUTHEAST ALA PREP 5% MT | 0.004517 | | | CHICAGO ILLIN 6% 4/1/2046 | 0.004232 | ✓ | | TX ST MUNI GAS-C | 0.003842 | ✓ | | NEW YORK ST DORM AUTH ST PERSO NEW YORK STATE DORMITORY AUTHORITY | 0.003491 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.003371 | ✓ | | Detroit, Wayne County, Michigan, General Obligation Bonds, Financial Recovery Series 2014B-1 | 0.003341 | | | RESTRUCTURED-SER A-2- | 0.003202 | ✓ | | MAIN STR NAT GA 5% MT | 0.003139 | ✓ | | MIATRN 5 10/1/2038 | 0.002976 | | | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | 0.002924 | ✓ | | DENVER CO UAL LEASE AMT 5.0% 10-01-32 | 0.002779 | ✓ | | Main Street Natural Gas, Inc., Series 2025B | 0.002703 | | | TOBACCO SETTLEMENT FING CORP V TOBGEN 06/47 ZEROCPNOID 0 | 0.002618 | ✓ | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.002486 | ✓ | | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2 | 0.002460 | ✓ | | NYC TRANSITIONAL-C-1 | 0.002319 | | | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.002296 | ✓ | | TX TAREDU 11/15/2055 | 0.002283 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A | 0.002271 | ✓ | | State of Illinois, Series D | 0.002268 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB | 0.002263 | | | TRIBOROUGH NY BRIDGE TUNNEL TRBTRN 03/28 FIXED 5 | 0.002244 | | | TRIBOROUGH NY BRIDGE & TUNNEL TRIBOROUGH BRIDGE & TUNNEL AUTHORITY | 0.002237 | | | BATTERY PARK-REF | 0.002229 | | | MAIN STR NAT GA(RCC) 5% 9/1/30MT 53 | 0.002211 | ✓ | | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 4.0% 03-15-43 | 0.002206 | | | STATE OF HAWAII DEPARTMENT OF BUDGET & FINANCE 3.1% 05-01-26 | 0.002175 | | | ST LUKE'S HOSPITAL OBLIGATED GROUP 5.0% 08-15-46 | 0.002134 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2025B | 0.002094 | ✓ | | SOUTHEAST ENERGY AUTH VAR | 0.002088 | ✓ | | MI STRAT FND 4.25% 12/31/2038@ | 0.002074 | | | NY NYCDEV 5 11/15/2044 | 0.002048 | ✓ | | PIEDMONT SC MUNI PWR AGY ELEC REVENUE | 0.002006 | | | STHRN CALIFORNIA ST PUBLIC PWR SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY | 0.001955 | ✓ | | MUNIBOND | 0.001922 | ✓ | | FLORIDA ST DEV FIN CORP REGD V/R B/E AMT 10.00000000 | 0.001902 | | | Miami-Dade (County of), FL, Series 2017 B, Ref. RB | 0.001891 | ✓ | | SALT LAKE CITY UT PUBLIC UTILS REVENUE | 0.001874 | | | RESTRUCTURED-SER A-2 | 0.001869 | ✓ | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.001856 | ✓ | | NY TRANS CORP 5% 7/1/46 @ | 0.001839 | ✓ | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.001833 | ✓ | | NORTHWESTERN MEMORIAL HEALTHCARE OBLIGATED GROUP 4.0% 07-15-47 | 0.001833 | ✓ | | California Community Choice Financing Authority, Series 2026 A-1 | 0.001815 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.001798 | | ## Strategic Advisers Municipal Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Allspring Municipal Bond Admin | 0.062004 | | | Vanguard Long-Term Tax-Exempt Adm | 0.049776 | | | Franklin Federal Tax Free Income R6 | 0.047046 | | | MONEY MARKET FUND | 0.034566 | | | ISHARES NATIONAL MUNI BOND ETF ISHARES NATIONAL MUNI BOND E | 0.023140 | | | VANGUARD TAX-EXM | 0.022249 | | | DWS Managed Municipal Bond S | 0.021939 | | | FIDELITY SAI ENHANCED MUNICIPAL INCOME FUND | 0.018581 | | | BlackRock National Municipal Inv A | 0.018563 | | | Eaton Vance National Municipal Income I | 0.017475 | | | American High-Income Municipal Bond F-2 | 0.011155 | | | Fidelity Municipal Cash Central Fund | 0.005735 | | | Invesco Government & Agency Portfolio, Institutional Class | 0.002884 | | | MAIN STR NAT GA 4% 07/01/2052 MT | 0.002683 | ✓ | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.002428 | ✓ | | OH BUCGEN 5 06/01/2055 | 0.002360 | | | SOUTHEAST ENERGY-E | 0.002257 | ✓ | | TN TNSUTL 5 12/01/2035 | 0.002043 | | | Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C | 0.001505 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.001454 | | | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.001442 | ✓ | | CHICAGO ILLIN 6% 4/1/2046 | 0.001354 | ✓ | | MUNIBOND | 0.001309 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.001305 | ✓ | | MAIN STR NAT GA(RCC) 5% 9/1/30MT 53 | 0.001184 | ✓ | | TX TTFTRN 5.5 10/01/2055 | 0.001173 | | | TN TNSUTL 5 11/01/2034 | 0.001152 | | | NY TRANS CORP(JFK INT NEW ONE)/AGM 5.13% 6/30/60@ | 0.001144 | | | Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C | 0.001139 | | | NEW YORK ST URBAN DEV CORP SALES TAX REVENUE | 0.001125 | | | NY NYEFAC 07/01/2056 | 0.001115 | | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.001099 | | | LOWER AL GAS DT-A-REF | 0.001083 | | | State of Illinois, Series D | 0.001075 | ✓ | | TOBACCO SETTLEMENT FING CORP N TOBGEN 06/46 FIXED 5 | 0.001074 | ✓ | | WI PUBTRN 5.75 12/31/2065 | 0.001045 | | | PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000 | 0.001038 | ✓ | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 06-15-52 | 0.001038 | ✓ | | PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.75000000 | 0.001030 | ✓ | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.001029 | ✓ | | MAIN STR NAT GA 4% 9/1/2052 | 0.001029 | | | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B | 0.001029 | | | MAIN STR NAT GA 5% MT | 0.001019 | | | Black Belt Energy Gas District, Series D-1 | 0.001016 | | | TX TXSUTL 01/01/2055 | 0.000972 | ✓ | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.000960 | ✓ | | NEW YORK ST DO 5% 3/15/2041 | 0.000956 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.000939 | | | California Community Choice Financing Authority, Series 2025G | 0.000936 | | | NY TRNSPRTN DEV CRP-A | 0.000934 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-022103` (as of 2026-03-31) - N-PORT (fund B) — accession `0000035402-26-002694` (as of 2026-02-28) --- _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 _