# Portfolio overlap — IBMS vs APMU

Comparing **iShares iBonds Dec 2030 Term Muni Bond ETF** (2026-01-31) and **ActivePassive Intermediate Municipal Bond ETF** (2026-02-28).

- Shared positions: 59
- iShares iBonds Dec 2030 Term Muni Bond ETF covered by ActivePassive Intermediate Municipal Bond ETF: 0.02017196895715480714020158637
- ActivePassive Intermediate Municipal Bond ETF covered by iShares iBonds Dec 2030 Term Muni Bond ETF: 0.02017196895715480714020158639

## iShares iBonds Dec 2030 Term Muni Bond ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| BLKR-LI MUNI-INS | 0.006759 |  |
| UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.006629 |  |
| CT HLTH & EDUCTNL-B-1 | 0.006295 |  |
| State of California | 0.005632 |  |
| NEW YORK NY | 0.004975 |  |
| MORRIS CNTY NJ | 0.004893 |  |
| State of Hawaii Airports System Revenue | 0.004692 |  |
| State of New Jersey, Series 2020A | 0.004446 |  |
| ALABAMA ST PUBLIC SCH & CLG AUTH | 0.004437 |  |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX | 0.003628 |  |
| CALIFORNIA ST-REF | 0.003418 |  |
| LOS ANGELES-E-REF | 0.003046 |  |
| State of California | 0.003015 |  |
| State of California, Series 2019 | 0.003003 |  |
| Duval County Public Schools, Series 2022A | 0.002904 |  |
| Rancho Santiago Community College District | 0.002848 | ✓ |
| Metropolitan Transit Authority of Harris County Sales & Use Tax | 0.002833 |  |
| State of California, Series 2018, GO Bonds | 0.002832 |  |
| PRV COL and UNV GA 5% 9/1/2030 | 0.002813 |  |
| MASSACHUSETTS ST CLEAN WTR TRUST | 0.002779 |  |
| Honolulu (City & County of), HI (Honolulu Rail Transit), Series 2021, GO Bonds | 0.002753 |  |
| NYC TRANS FIN AUTH | 0.002712 |  |
| State of Maryland, Series 2020A-2 | 0.002704 |  |
| CONROE TX INDEP SCH DIST | 0.002702 |  |
| BEVERLY HILLS USD CAB | 0.002697 |  |
| MASSACHUSETTS ST | 0.002665 |  |
| LOS ANGELES WTR-A-REF | 0.002662 |  |
| MET TRANSPRTN AUTH NY REVENUE | 0.002652 |  |
| IL ST TOLL HWY AUTH | 0.002646 |  |
| NEW YORK NY | 0.002639 |  |
| State of Connecticut, Series 2021A | 0.002579 |  |
| State of California | 0.002514 |  |
| MANHATTAN BEACH CA UNIF SCH DIST | 0.002510 |  |
| State of Illinois, Series 2024B | 0.002508 |  |
| CORPUS CHRISTI TX | 0.002507 |  |
| IL ST TOLL HWY AUTH | 0.002393 | ✓ |
| STATE OF ILLINOIS | 0.002386 | ✓ |
| CENTRL FL EXPRESSWAY AUTH SR LIEN REVENUE | 0.002331 |  |
| DEL VALLE TX INDEP SCH DIST | 0.002322 |  |
| Hillsborough County School Board, Series 2018 | 0.002314 |  |
| UTAH ST BLDG OWNERSHIP AUTH LEASE REVENUE | 0.002277 |  |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT | 0.002275 |  |
| MASSACHUSETTS ST-REF | 0.002257 |  |
| NY DORM AUTH-C-REF | 0.002254 |  |
| PALM BEACH SCH-A-COPS | 0.002236 |  |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT | 0.002235 |  |
| MA ST-REF-A | 0.002197 |  |
| E-470 Public Highway Authority, Series B | 0.002187 |  |
| MET NASHVILLE TN ARPT AUTH ARPT REVENUE | 0.002179 |  |
| MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE | 0.002176 |  |

## ActivePassive Intermediate Municipal Bond ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| ISHARES NATIONAL MUNI BOND ETF ISHARES NATIONAL MUNI BOND E | 0.038945 |  |
| Mount Vernon Liquid Assets Portfolio, LLC | 0.037784 |  |
| FRST AM-GV OB-X | 0.014284 |  |
| TX TRANSPRTN-C-REF | 0.009673 |  |
| MET TRANSPRTN AUTH NY REVENUE | 0.009492 |  |
| STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.0% 03-15-33 | 0.008877 |  |
| NJ TRANSPRTN TRUST-A | 0.008774 |  |
| GREAT LAKES WTR -B | 0.008584 |  |
| Snohomish County Housing Authority | 0.008415 |  |
| STATE OF CALIFORNIA | 0.007335 |  |
| Volusia County Educational Facility Authority, Series 2025, RB | 0.007205 |  |
| PENNSYLVANIA ST COMMONWEALTH OF PENNSYLVANIA | 0.006723 |  |
| SAN ANTONIO TX ELEC & GAS REVENUE | 0.006647 |  |
| Pennsylvania Turnpike Commission | 0.006389 |  |
| KY COMMONWEALTH-B-REF | 0.006375 |  |
| NEW YORK NY | 0.006235 |  |
| Capital Trust Authority | 0.006209 |  |
| State of Illinois Sales Tax Revenue, Series 2025, RB | 0.006134 |  |
| State of Ohio | 0.006124 |  |
| LOS ANGELES DEPT-B | 0.006100 |  |
| State of Connecticut Special Tax Revenue | 0.006095 |  |
| Pennsylvania Turnpike Commission Registration Fee Revenue | 0.006057 |  |
| TEMPLE UNIV-REF-FIRST | 0.005977 |  |
| Maine Municipal Bond Bank, Series 2024A | 0.005909 |  |
| Harris County Cultural Education Facilities Finance Corp | 0.005903 |  |
| Illinois (State of) Finance Authority (The University of Chicago), Series 2024, RB | 0.005885 |  |
| State of Maryland | 0.005721 |  |
| District of Columbia | 0.005168 |  |
| NYC TRANSITIONL-S-1 | 0.005130 |  |
| New York State Thruway Authority | 0.005128 |  |
| State of Louisiana Gasoline & Fuels Tax Revenue | 0.005119 |  |
| Pennsylvania Turnpike Commission | 0.005113 |  |
| CALIFORNIA COMMUNITY VAR | 0.005056 |  |
| PHILADELPHIA-C-REF | 0.005047 |  |
| State of California, Series 2025, GO Bonds | 0.005024 |  |
| Miami Beach Redevelopment Agency | 0.005016 |  |
| DOWNTWN PUB INFRA-A | 0.005010 |  |
| NJ TRANSPRTN TRUST-AA | 0.004978 |  |
| State of Florida | 0.004907 |  |
| Lower Colorado River Authority, Series 2025 | 0.004874 |  |
| Wisconsin (State of) Health & Educational Facilities Authority (Unitypoint Health), Series 2024 B, Ref. RB | 0.004764 |  |
| Oklahoma (State of) Capitol Improvement Authority, Series 2024 A, Ref. RB | 0.004750 |  |
| MO HWYS & TRANSPRN -A | 0.004700 |  |
| State of Florida | 0.004619 |  |
| State of Connecticut | 0.004614 |  |
| UNIV OF TEXAS TX UNIV REVENUES | 0.004610 |  |
| District of Columbia, Series 2024 A, GO Bonds | 0.004558 |  |
| Commonwealth Financing Authority, Series 2018, RB | 0.004537 |  |
| Harris County-Houston Sports Authority, Series 2024A | 0.004504 |  |
| Chicago Transit Authority Sales Tax Receipts Fund, Series 2024A | 0.004443 |  |


## Sources

- N-PORT (fund A) — accession `0001410368-26-031746` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1100663/000141036826031746/0001410368-26-031746-index.htm>
- N-PORT (fund B) — accession `0000894189-26-012794` (as of 2026-02-28)
  <https://www.sec.gov/Archives/edgar/data/1141819/000089418926012794/0000894189-26-012794-index.htm>

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