# Portfolio overlap — SNCAX vs CAM Comparing **California Municipal Portfolio** (2025-09-30) and **AB California Intermediate Municipal ETF** (2026-02-28). - Shared positions: 349 - California Municipal Portfolio covered by AB California Intermediate Municipal ETF: 0.8739967907744518191799872728 - AB California Intermediate Municipal ETF covered by California Municipal Portfolio: 0.8739967907744518191799872727 ## California Municipal Portfolio — top positions | Security | Weight | Shared | |----------|--------|--------| | Los Angeles (City of), CA, Series 2025, RN | 0.047911 | ✓ | | LOS ANGELES UNIF SD-A | 0.029457 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.019108 | ✓ | | California Community Choice Financing Authority, Series 2023 E-1 | 0.014940 | ✓ | | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV | 0.013448 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.012849 | ✓ | | Bay Area Toll Authority | 0.012202 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.010847 | ✓ | | State of California | 0.010466 | | | CALIFORNIA COMMUNITY VAR | 0.010322 | ✓ | | LOS ANGELES WTR-A-REF | 0.010221 | ✓ | | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE | 0.010182 | ✓ | | NRTHRN CA ENRGY | 0.010160 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.010031 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009956 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009954 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Second Series 2024, Ref. RB | 0.009843 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023, RB | 0.009597 | ✓ | | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE | 0.009557 | ✓ | | California (State of) Housing Finance Agency, Series 2019 A-2, RB | 0.009507 | ✓ | | YUCAIPA VLY WTR DIST FING AUTH REVENUE | 0.009496 | ✓ | | Los Angeles Unified School District, Series 2018B-1 | 0.009018 | ✓ | | BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE | 0.008707 | ✓ | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.008539 | ✓ | | CALIFORNIA ST | 0.007728 | ✓ | | California Community Choice Financing Authority, Series C | 0.007703 | ✓ | | California (State of) Housing Finance Agency (Social Certificates), Series 2021-2A, Revenue Ctfs. | 0.007148 | ✓ | | CA ST PUB WKS-A | 0.006896 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.006746 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.006606 | ✓ | | SOUTHERN CALIFORNIA EDISON CO 4.5% 11-01-33 | 0.006563 | ✓ | | NJ TRANSP 5% 6/15/29 | 0.006363 | ✓ | | MSR Energy Authority, Series B | 0.006337 | ✓ | | California Community Choice Financing Authority, Series F | 0.006189 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.006134 | ✓ | | M-S-R Energy Authority, Series A | 0.006088 | ✓ | | UNIV OF CALIFORNIA CA REVENUES | 0.006003 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | 0.005843 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.005662 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.005654 | ✓ | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.005522 | ✓ | | CALIFORNIA ST UNIV REVENUE | 0.005502 | ✓ | | CA UNIV REVENUE-A-REF | 0.005478 | ✓ | | E CO AWP JT PWRS-A-2 | 0.005260 | ✓ | | San Diego County Regional Airport Authority | 0.005210 | ✓ | | State of California 5.00% 03/01/2042 | 0.005148 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.005110 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.005020 | ✓ | | GOLDEN ST TOBACCO SEC | 0.004938 | ✓ | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.004873 | ✓ | ## AB California Intermediate Municipal ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Los Angeles (City of), CA, Series 2025, RN | 0.044433 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.017727 | ✓ | | California Community Choice Financing Authority, Series 2023 E-1 | 0.015978 | ✓ | | DESERTXPRESS ENTERPRISES LLC (MPT) 3.5% 01-01-65 | 0.014277 | | | CALIFORNIA COMMUNITY VAR | 0.014005 | ✓ | | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV | 0.013337 | ✓ | | Bay Area Toll Authority | 0.011656 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.010379 | ✓ | | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE | 0.009987 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.009747 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Second Series 2024, Ref. RB | 0.009639 | ✓ | | LOS ANGELES WTR-A-REF | 0.009575 | ✓ | | NRTHRN CA ENRGY | 0.009493 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.009468 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009310 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009286 | ✓ | | California (State of) Housing Finance Agency, Series 2019 A-2, RB | 0.009003 | ✓ | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023, RB | 0.008989 | ✓ | | UNITED AIRLINES INC 4.0% 07-15-29 | 0.008892 | ✓ | | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE | 0.008875 | ✓ | | YUCAIPA VLY WTR DIST FING AUTH REVENUE | 0.008822 | ✓ | | BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE | 0.008540 | ✓ | | Los Angeles Unified School District, Series 2018B-1 | 0.008408 | ✓ | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.008317 | ✓ | | California Community Choice Financing Authority, Series C | 0.007244 | ✓ | | SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE | 0.007144 | ✓ | | California (State of) Housing Finance Agency (Social Certificates), Series 2021-2A, Revenue Ctfs. | 0.006915 | ✓ | | State of California | 0.006481 | | | CA ST PUB WKS-A | 0.006429 | ✓ | | SOUTHERN CALIFORNIA EDISON CO 4.5% 11-01-33 | 0.006324 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.006299 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.006200 | ✓ | | MSR Energy Authority, Series B | 0.006077 | ✓ | | NJ TRANSP 5% 6/15/29 | 0.005911 | ✓ | | California Community Choice Financing Authority, Series F | 0.005846 | ✓ | | M-S-R Energy Authority, Series A | 0.005827 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | 0.005802 | ✓ | | UNIV OF CALIFORNIA CA REVENUES | 0.005757 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.005741 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.005723 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.005475 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.005463 | ✓ | | CALIFORNIA ST UNIV REVENUE | 0.005314 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.005314 | ✓ | | CALIFORNIA ST INFRASTRUCTURE & REGD B/E 3.25000000 | 0.005190 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport, Series C | 0.005183 | | | CA UNIV REVENUE-A-REF | 0.005119 | ✓ | | LOS ANGELES DEPT-B | 0.004981 | | | CA ST | 0.004920 | ✓ | | San Diego County Regional Airport Authority | 0.004887 | ✓ | ## Sources - N-PORT (fund A) — accession `0001410368-25-031099` (as of 2025-09-30) - N-PORT (fund B) — accession `0001410368-26-040382` (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 _