# Portfolio overlap — PIMAX vs JHTFX Comparing **Victory Pioneer High Income Municipal Fund** (2026-02-28) and **High Yield Municipal Bond Fund** (2026-02-28). - Shared positions: 32 - Victory Pioneer High Income Municipal Fund covered by High Yield Municipal Bond Fund: 0.08539622750701188744896532990 - High Yield Municipal Bond Fund covered by Victory Pioneer High Income Municipal Fund: 0.08539622750701188744896532990 ## Victory Pioneer High Income Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | City of Hammond IN | 0.035027 | | | GOLDEN ST TOBACCO SECURITIZATI REGD ZCP OID B/E 0.00000000 | 0.025133 | ✓ | | GOLDEN ST TOBACCO-A1 | 0.022587 | | | BUCKEYE TOBACCO SETTLEMENT FIN BUCGEN 06/57 ZEROCPNOID 0 | 0.022578 | ✓ | | Nassau County Tobacco Settlement Corp., Series A-3 | 0.020966 | | | WI PUBTRN 5.75 06/30/2060 | 0.020520 | | | Arlington Higher Education Finance Corp | 0.019900 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.019879 | ✓ | | Vail Home Partners Corp., Series 2025 | 0.019110 | | | Southwestern Illinois Development Authority | 0.016387 | | | Kansas Development Finance Authority Revenue Bonds, Village Shalom Project, Series 2018A | 0.015688 | | | Phoenix Industrial Development Authority, Arizona, Multi-Family Housing Revenue Bonds, 3rd and Indian Road Assisted Living Project, Series 2016 | 0.014488 | | | Inland Empire Tobacco Securitization Corp., Series 2007C-1 | 0.014105 | ✓ | | GA PWR - SOUTHERN CO 18-1 V1 | 0.013450 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.013284 | ✓ | | Greater Texas Cultural Education Facilities Finance Corp | 0.012887 | | | Delaware (County of), PA Industrial Development Authority (Mercy Health Corp. of Southeastern PA), Series 2016 A, RB | 0.011861 | | | FL ST DEV FIN CORP | 0.011836 | | | Indiana (State of) Housing & Community Development Authority (Lake Meadows Assisted Living), Series 2019 A, RB | 0.011688 | | | New York Counties Tobacco Trust IV, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2005A | 0.011597 | | | INDIANA ST HSG & CMNTY DEV AUTH MF HSG REVENUE | 0.011317 | | | County of Otero NM | 0.011201 | | | City of Detroit MI | 0.011133 | | | PUERTO RICO CMWLTH | 0.011121 | | | Westchester County Local Development Corp. (Purchase Senior Learning Community, Inc.), Series 2021, Ref. RB | 0.010388 | | | UNITED STATES STEEL CORP 5.45% 09-01-52 | 0.009871 | | | PORT OF PORT ARTHUR TX NAV DIST | 0.009807 | | | City of Anderson, Series 2020 A | 0.009774 | | | VA TOBGEN 6.71 06/01/2046 | 0.009563 | | | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE | 0.009555 | | | DESERTXPRESS ENTERPRISES LLC (MPT) 12.0% 01-01-65 | 0.009485 | ✓ | | WI PUBTRN 5.75 12/31/2065 | 0.009472 | ✓ | | New York Counties Tobacco Trust VI, Series A-2B | 0.009174 | | | AEROTROPOLIS REGL TRANPRTN AUT REGD B/E 5.75000000 | 0.009158 | ✓ | | New York Counties Tobacco Trust VI, Series 2016 A-2, Ref. RB | 0.009146 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.008906 | | | Michigan Strategic Fund | 0.008770 | | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.008668 | | | Michigan Finance Authority | 0.008384 | | | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Mariana Bracetti Academy Project, Taxable Series 2020B | 0.008378 | | | District of Columbia Tobacco Settlement Financing Corp., Series 2006 A, RB | 0.008077 | | | PORT PORT ARTHUR TX NAV DIST VAR-MOTIVA ENTERPRISES PJ-A | 0.007986 | | | California Municipal Finance Authority | 0.007984 | | | CAPITAL TRUST AGY FL STUDENT HSG REVENUE | 0.007964 | | | Puerto Rico Industrial Development Co., Series 2023 | 0.007886 | | | Philadelphia Authority for Industrial Development | 0.007787 | | | ARKANSAS ST DEV FIN AUTH INDL REGD B/E AMT 6.87500000 | 0.007507 | ✓ | | OH BUCGEN 5 06/01/2055 | 0.007496 | ✓ | | COLORADO EDUCTNL & CULTURAL AUTH REVENUE | 0.007424 | | | PUERTO RICO TOLLROADS LLC 5.75% 07-01-49 | 0.007362 | | ## High Yield Municipal Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | 0.032074 | | | Black Belt Energy Gas District, Series 2025, RB | 0.015439 | | | OH BUCGEN 5 06/01/2055 | 0.013683 | ✓ | | WI PUBTRN 6.5 12/31/2065 | 0.008971 | | | JH COLLATERAL | 0.008608 | | | California County Tobacco Securitization Agency | 0.008500 | | | DISTRICT OF COLUMBIA | 0.007918 | | | VIRGIN ISLANDS HOTEL DEV FING REGD OID B/E 6.00000000 | 0.007863 | | | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2 | 0.007782 | | | RED RIVER EDU FIN CORP TX HGR EDU REVENUE | 0.007779 | | | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTHCARE REVENUE | 0.007281 | | | Charlotte County Industrial Development Authority, Series 2021 A | 0.007195 | | | Eagle Avimor Community Infrastructure District 1, Ada, Boise, and Gem Counties, Idaho, Special Assessment Revenue Bonds, Assessment Area 6 Series 2024 | 0.006873 | | | ALACHUA FL HEAT 5.75% 10/1/2053 | 0.006382 | | | NEW JERSEY ST ECON DEV AUTH DO REGD OID B/E AMT 6.62500000 | 0.006351 | ✓ | | DESERTXPRESS ENTERPRISES LLC (MPT) 12.0% 01-01-65 | 0.006263 | ✓ | | PREREF MET WASHINGTON DC ARPTS AUTH D REGD OID B/E AG PREREFUNDED 10/01/26 @ 100 6.50000000 | 0.006200 | | | CHICAGO IL BRD OF EDU REGD B/E 6.25000000 | 0.006100 | | | WA WASHSG 6.25 01/01/2056 | 0.006081 | | | NY TRANS CORP 5.375% 6/30/2060 @ | 0.006073 | | | KS WYAGEN 5.5 03/01/2046 | 0.006064 | | | NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/35 FIXED 5.25 | 0.006052 | | | PUBLIC FIN AUTH WI REVENUE REGD ZCP OID B/E 0.00000000 | 0.006038 | | | PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE | 0.005979 | | | Mobile (County of), AL Industrial Development Authority (AM/NS Calvert LLC), Series 2024, RB | 0.005946 | | | Higher Educational Facilities Financing Authority, Florida, Revenue Bonds, Keiser University Project, Series 2025 | 0.005902 | | | MASSACHUSETTS ST DEV FIN AGY S REGD OID B/E 6.50000000 | 0.005755 | | | NY TRANS CORP 5% 7/1/46 @ | 0.005670 | | | NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/35 FIXED 5.375 | 0.005476 | | | PROMEDICA HEALTHCARE OBLIGATED GROUP 5.25% 11-15-48 | 0.005392 | | | Ohio County, WV Commission TIF Rev. Refg. (Highlands) | 0.005355 | | | VERMILION CREEK METROPOLITAN D VRCFAC 12/55 FIXED 5.875 | 0.005284 | | | Beaver County Industrial Development Authority, Series B | 0.005240 | | | VIRGINIA TOBACCO SENIOR-SER B1 | 0.005131 | | | MI GRADEV 6.12 11/01/2060 | 0.005083 | | | Pine View Public Infrastructure District No. 2, Series 2026 | 0.005083 | | | Public Finance Authority | 0.004971 | | | WYANDOTTE COUNTY-KANSAS CITY U WYAGEN 06/40 FIXED 4.5 | 0.004857 | | | MASSACHUSETTS ST DEV FIN AGY R MASDEV 07/54 FIXED OID 5 | 0.004754 | | | KANSAS CITY MO INDL DEV AUTH E REGD OID B/E 5.00000000 | 0.004745 | | | PUBLIC FINANCE AUTHORITY PUBEDU 03/61 FIXED OID 6.25 | 0.004711 | | | PORT OF GTR CINCINNATI DEV AUTH OH SPL OBLIG TIF REVENUE | 0.004363 | ✓ | | PONTE VEDRA PINE CO LLC OBLIGATED GROUP 6.75% 11-15-55 | 0.004245 | | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.004234 | ✓ | | NOVELIS CORP (MPT) 5.0% 06-01-55 | 0.004223 | | | WI PUBTRN 5.75 12/31/2065 | 0.004219 | ✓ | | FLORIDA ST LOCAL GOVT FIN COMMISSION EDUCTNL FACS REVENUE | 0.004215 | | | WOLF CREEK INFRASTRUCTURE FING REGD B/E 5.75000000 | 0.004193 | | | FLORIDA ST LOCAL GOVT FIN COMMISSION REVENUE | 0.004187 | | | MIAMI-DADE CNTY FL INDL DEV AUTH STUDENT HSG REVENUE | 0.004181 | | ## Sources - N-PORT (fund A) — accession `0001004726-26-003130` (as of 2026-02-28) - N-PORT (fund B) — accession `0001193125-26-184474` (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 _