# Portfolio overlap — RMMBX vs FSMUX Comparing **Aspiriant Risk-Managed Municipal Bond Fund** (2026-03-31) and **Strategic Advisers Municipal Bond Fund** (2026-02-28). - Shared positions: 313 - Aspiriant Risk-Managed Municipal Bond Fund covered by Strategic Advisers Municipal Bond Fund: 0.09455765196981858504535226517 - Strategic Advisers Municipal Bond Fund covered by Aspiriant Risk-Managed Municipal Bond Fund: 0.09455765196981858504535226518 ## Aspiriant Risk-Managed Municipal Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Mackay Municipal Opportunities Fund LP, Class A | 0.083226 | | | ISHARES NATIONAL MUNI BOND ETF ISHARES NATIONAL MUNI BOND E | 0.070338 | ✓ | | BLKR-LI MUNI-INS | 0.026279 | | | Mackay Municipal Credit Opportunities Fund LP, Class A | 0.020927 | | | JPMorgan Prime Money Market Fund, Institutional Class | 0.006257 | | | NEW YORK NY REGD B/E 5.25000000 | 0.003601 | | | UNIVERSITY OF CHICAGO 5.25% 05-15-48 | 0.003573 | | | NJ TRANSP 5% 6/15/2048 | 0.003418 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.003241 | ✓ | | MIAMI-DADE CNTY FL | 0.003195 | | | REGL TRANSPRTN DIST CO SALES TAX REVENUE | 0.003193 | | | Metropolitan Atlanta Rapid Transit Authority, Series 2017 C | 0.003192 | | | State of Mississippi, Series 2017A | 0.003180 | | | Texas Public Finance Authority | 0.003178 | | | PALOMAR POMERADO | 0.003066 | | | MIAMI-DADE CNTY FL AVIATION REVENUE | 0.002596 | | | Chicago O'Hare International Airport, Series 2025 E | 0.002539 | | | IOWA ST FIN AUTH SF MTGE REVENUE | 0.002533 | | | Southeast Alabama Gas Supply District (The), Series A | 0.002518 | ✓ | | FLORIDA ST DEV FIN CORP REGD B/E AMT AG 5.25000000 | 0.002431 | | | STATE OF ILLINOIS SPORTS FACILITIES FUND AG 5.25% 06-15-32 | 0.002414 | | | Village of Mount Pleasant WI | 0.002403 | | | UNIV OF SOUTH CAROLINA SC ATHLETIC FACS REVENUE | 0.002394 | | | Port Authority of New York & New Jersey, Series 242 | 0.002393 | | | INDIANA ST FIN AUTH HLTH SYS REVENUE | 0.002392 | | | TN ENERGY JR-SER B | 0.002392 | | | MICHIGAN ST BLDG AUTH REVENUE REGD B/E 5.00000000 | 0.002392 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.002387 | | | HARRIS TX CED 4% 10/1/2036 | 0.002381 | | | NY TRANS CORP 5% 7/1/46 @ | 0.002375 | ✓ | | HOUSTON TX HOTEL OCCUPANCY TAX & SPL REVENUE | 0.002365 | | | Tender Option Bond Trust Receipts/Certificates | 0.002316 | ✓ | | TX PABSTC 5% 6/30/2058@ | 0.002304 | ✓ | | PA CMNGEN 4 06/01/2039 | 0.002285 | | | COLORADO ST HLTH FACS AUTH REV REGD B/E 5.25000000 | 0.002277 | | | IL TOLL HWY AUTH-B | 0.002197 | | | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2025D | 0.002091 | | | San Angelo Independent School District, Series 2025 | 0.002085 | | | CHICAGO IL BRD OF EDU DEDICATE REGD B/E 5.75000000 | 0.002072 | ✓ | | NY TRANSITIONAL FIN-B | 0.002038 | | | Sacramento City Financing Authority, Series E | 0.002017 | | | WA PTSGEN 5 08/01/2047 | 0.002010 | | | WI PUBTRN 5.75 12/31/2065 | 0.002009 | ✓ | | PROJECTNEW YORK TRANS | 0.002008 | ✓ | | TX TRANSPRTN-A-REF | 0.002005 | | | Allegheny (County of), PA Airport Authority (Pittsburgh International Airport), Series 2021 A, RB | 0.002002 | | | City of Baltimore | 0.002000 | | | IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE | 0.001995 | | | CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND 5.0% 12-01-46 | 0.001985 | | | DULUTH MN ECON DEV AUTH HLTH C REGD B/E 5.25000000 | 0.001980 | | ## 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 `0002071691-26-012310` (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 _