# Portfolio overlap — SSMMX vs FSMUX Comparing **Western Asset Managed Municipals Fund** (2026-02-27) and **Strategic Advisers Municipal Bond Fund** (2026-02-28). - Shared positions: 576 - Western Asset Managed Municipals Fund covered by Strategic Advisers Municipal Bond Fund: 0.09664567078707311386220531378 - Strategic Advisers Municipal Bond Fund covered by Western Asset Managed Municipals Fund: 0.09664567078707311386220531377 ## Western Asset Managed Municipals Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.014431 | ✓ | | STATE OF NEW YORK SALES TAX REVENUE 5.0% 03-15-48 | 0.012476 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.012145 | ✓ | | State of Illinois, Series D | 0.012097 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.010838 | ✓ | | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE | 0.010030 | | | NY ST DORM DASNY PIT 20A 4.0% 03-15-45 | 0.009639 | | | NYC TRANSITIONAL -C-1 | 0.009531 | ✓ | | PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000 | 0.008988 | ✓ | | NY TRANS CORP 5% 7/1/46 @ | 0.008867 | ✓ | | MSR Energy Authority, Series B | 0.008669 | ✓ | | TRIBOROUGH NY BRIDGE & TUNNEL REGD B/E 5.00000000 | 0.007571 | ✓ | | NASHVILLE& DAVIDSON-C | 0.007253 | | | NY NYCUTL 5.25 06/15/2052 | 0.007118 | ✓ | | NY TRANS CORP(JFK INT NEW ONE)/AGM 5.13% 6/30/60@ | 0.007099 | ✓ | | ILL ST TOLL 5% 1/1/2042 | 0.006983 | ✓ | | NY TRANS CORP 5.375% 6/30/2060 @ | 0.006961 | ✓ | | NOVANT HEALTH OBLIGATED GROUP 5.0% 12-01-35 | 0.006927 | ✓ | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.006611 | ✓ | | NYC WTR 4% 6/15/2051 | 0.006425 | ✓ | | CHICAGO IL BRD OF EDU REGD B/E 5.00000000 | 0.006405 | | | NY TRANS CORP 5% 7/1/41 @ | 0.006391 | ✓ | | BAY AREA TOLL-VAR A | 0.006147 | ✓ | | Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C | 0.006100 | ✓ | | CALIFORNIA ST MUNI FIN AUTH REVENUE | 0.006049 | ✓ | | FL BROAPT 5 10/01/2045 | 0.005944 | ✓ | | NOVANT HEALTH OBLIGATED GROUP 5.0% 06-01-55 | 0.005858 | ✓ | | NY MTA DED 4% 11/15/2054 | 0.005830 | ✓ | | NV CLA 5 05/01/2048 | 0.005585 | ✓ | | STATE OF NEW JERSEY 5.0% 06-15-42 | 0.005253 | ✓ | | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 4.0% 02-15-40 | 0.005145 | ✓ | | RESTRUCTURED-SER A1 | 0.005084 | ✓ | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 06-15-50 | 0.005073 | ✓ | | NYC MUNI WTR FIN-AA-3 | 0.004883 | | | CALIFORNIA COMMUNITY VAR | 0.004819 | ✓ | | Chandler Industrial Development Authority, Series 2019 | 0.004728 | ✓ | | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.004672 | ✓ | | NJ TRANSPRTN TRUST-CC | 0.004639 | ✓ | | LANCASTER H AUT 5% 11/1/2046 | 0.004599 | ✓ | | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.004538 | ✓ | | NY TRANS CORP 5% 1/1/2032 @ | 0.004532 | ✓ | | Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A | 0.004491 | ✓ | | NYC TRANSITIONAL FIN | 0.004333 | | | NYC TRANS FIN-F1 | 0.004265 | ✓ | | California Community Choice Financing Authority, Series B-1 | 0.004213 | ✓ | | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B | 0.004212 | ✓ | | AL ALSFAC 5.25 07/01/2047 | 0.004186 | ✓ | | ELGIN TX ISD 4% 8/1/2049 | 0.003993 | ✓ | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.003992 | ✓ | | California Community Choice Financing Authority, Series 2025G | 0.003974 | ✓ | ## 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 `0000940400-26-014637` (as of 2026-02-27) - 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 _