# Portfolio overlap — TFCAX vs JMST Comparing **SIMT Tax-Free Conservative Income Fund** (2026-03-31) and **JPMorgan Ultra-Short Municipal Income ETF** (2026-02-28). - Shared positions: 4 - SIMT Tax-Free Conservative Income Fund covered by JPMorgan Ultra-Short Municipal Income ETF: 0.01468398529896458187774655711 - JPMorgan Ultra-Short Municipal Income ETF covered by SIMT Tax-Free Conservative Income Fund: 0.01468398529896458187774655711 ## SIMT Tax-Free Conservative Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | IOWA ST FIN AUTH MIDWESTERN EC IOWA FINANCE AUTHORITY | 0.036174 | | | SAINT LUCIE CNTY FL POLL CONTR COUNTY OF ST LUCIE FL | 0.034245 | ✓ | | LINCOLN NEB COML PAPER IAM 189 | 0.024116 | | | COLORADO ST HLTH FACS AUTH REVENUE | 0.021704 | | | KS SPL OBLG VAR-E | 0.019775 | | | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY | 0.019293 | | | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE | 0.018328 | | | TENDER OPTION BOND TRUST RECEI TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES | 0.017991 | | | SOUTH DAKOTA ST HSG DEV AUTH SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY | 0.017894 | | | Sports & Exhibition Authority of Pittsburgh & Allegheny County, Series 2007-A | 0.017364 | | | RBC MUNI PRODUCTS INC TRUST RBC MUNICIPAL PRODUCTS INC TRUST | 0.016881 | | | MASSACHUSETTS ST WTR RES AUTH COML PAPER IAM | 0.016396 | | | Harris County Cultural Education Facilities Finance Corp., Series 2024F | 0.015434 | | | CONNECTICUT ST HSG FIN AUTH HS CONNECTICUT HOUSING FINANCE AUTHORITY | 0.015434 | | | Clackamas & Washington Counties School District No. 3, Series 2025 | 0.014539 | | | COLORADO ST BRD OF GOVERNORS UNIV ENTERPRISE SYS REVENUE | 0.014470 | | | UNIVERSITY TEX COML PAPER IAM 19 | 0.014468 | | | TEXAS ST STATE OF TEXAS | 0.013987 | | | HOUSTON TX UTILITY SYS REVENUE CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE | 0.013987 | ✓ | | UNIVERSITY TEX PERM UNIV FD COML PAPER IAM | 0.013985 | | | TEXAS A & M UNIV COML PAPER IAM | 0.013985 | | | COLORADO SPRINGS CO UTILITIES CITY OF COLORADO SPRINGS CO UTILITIES SYSTEM REVEN | 0.013891 | | | WATERFORD MI SCH DIST WATERFORD SCHOOL DISTRICT/MI | 0.013531 | | | SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY | 0.013505 | | | SOUTH DAKOTA ST HSG DEV AUTH SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY | 0.013095 | | | NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS VAR 06/15/2050 | 0.012902 | | | WISCONSIN ST HSG & ECON DEV AU WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY | 0.012154 | | | NEW YORK ST HSG FIN AGY NEW YORK STATE HOUSING FINANCE AGENCY | 0.012058 | | | ILLINOIS ST HSG DEV AUTH REVEN ILLINOIS HOUSING DEVELOPMENT AUTHORITY | 0.011093 | | | WARREN MI CONSOL SCH DIST WARREN CONSOLIDATED SCHOOLS | 0.010389 | | | Loudoun County Economic Development Authority, Series 2013A | 0.010129 | | | Utah Water Finance Agency, Series B-2 | 0.010056 | | | MA BED 4 04/09/2027 | 0.009795 | | | Town of Hingham | 0.009764 | | | MIAMI-DADE CO-B-REF | 0.009764 | ✓ | | DIST OF COLUMBIA INCOME TAX SE DISTRICT OF COLUMBIA INCOME TAX REVENUE | 0.009686 | | | Charleston County School District | 0.009646 | | | CONNECTICUT HSG FIN AUTH HSG MTGE FIN PROGRAM | 0.009646 | | | MASSACHUSETTS BAY TRANSN AUTH MASS COML PAPER | 0.009646 | | | WV HOSP FIN AUTH-C | 0.009574 | | | Fairfax County Industrial Development Authority | 0.009429 | | | E CO AWP JT PWRS-A-1 | 0.009262 | | | King & Snohomish Counties School District No 417 Northshore, Series 2025, GO Bonds | 0.009195 | | | SAN ANTONIO TX MUNI COMMERICAL PAPER | 0.009165 | | | WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION | 0.009164 | | | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE | 0.008537 | | | TENDER OPTION BOND TRUST RECEI TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES | 0.008537 | | | TX LDPMFH 04/01/2043 | 0.008436 | | | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY | 0.008199 | | | UNIV OF CONNECTICUT CT UNIVERSITY OF CONNECTICUT | 0.007886 | | ## JPMorgan Ultra-Short Municipal Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | JPMorgan Institutional Tax Free Money Market Fund, Class IM | 0.134331 | | | NYC MUNI WTR FIN AUTH | 0.010635 | | | WASHINGTON ST-R-2026A | 0.009574 | | | State of Minnesota, Various Purpose, Series 2025D | 0.008230 | | | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES | 0.007787 | | | Township of Woodbridge | 0.007425 | | | Maryland Health & Higher Educational Facilities Authority, Series 2025 C-1 | 0.007363 | | | Tarrant County Cultural Education Facilities Finance Corp., Series 2012, RB | 0.007023 | | | County of Hamilton Sales Tax | 0.006970 | | | NYC TRANSTNL-C6-VAR | 0.006545 | | | HOUSTON TX UTILITY SYS REVENUE CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE | 0.006545 | ✓ | | NYC GEN OBLIG-A-4 | 0.006545 | | | MASSACHUSETTS ST DEV FIN AGY REVENUE | 0.006545 | | | City of Bristol | 0.006225 | | | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Variable Rate Series 2020 | 0.006218 | | | Township of Hamilton | 0.006116 | | | Township of Parsippany-Troy Hills | 0.005990 | | | Township of Livingston | 0.005910 | | | City of Hudson, Limited Tax | 0.005855 | | | SAINT LUCIE CNTY FL POLL CONTR COUNTY OF ST LUCIE FL | 0.005849 | ✓ | | NYC WTR-AA-2 | 0.005727 | | | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2025A | 0.005665 | | | State of Louisiana, Series 2023 A-2 | 0.005547 | | | San Antonio Water System, Subordinate Lien, Series 2024A | 0.005449 | | | MICHIGAN ST BLDG AUTH REVENUE | 0.005400 | | | Maine School Administrative District No. 51, Series 2025B | 0.005386 | | | COLORADO SPRINGS CO UTILITIES REVENUE | 0.005301 | | | Township of Teaneck | 0.005205 | | | Clark County School District, Series 2025B | 0.005170 | | | Spartanburg County School District No. 7 | 0.005126 | | | Township of Cherry Hill | 0.004950 | | | City of Albany | 0.004913 | | | VALDEZ AK MARINE TERMINAL REVE VALTRN 05/31 ADJUSTABLE VAR | 0.004909 | | | DELAWARE VLY REG-B | 0.004909 | | | TNDR OPT-FLTR-046 | 0.004909 | | | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE | 0.004660 | | | COLORADO ST HLTH FACS AUTH REV REGD V/R B/E 2.65000000 | 0.004598 | | | JERSEY CITY NJ | 0.004398 | | | Township of Edison | 0.004282 | | | Township of West Windsor | 0.004249 | | | BLACK BELT ENERGY GAS FRN | 0.004208 | | | Town of South Kingstown, Series 2025-1 | 0.004111 | | | Colorado (State of) Health Facilities Authority (Intermountain Healthcare), Series 2024, RB | 0.004091 | | | Alaska Housing Finance Corp., Home Mortgage, Series 2007A | 0.004091 | | | University of Colorado Hospital Authority, Series 2018, RB | 0.004091 | | | City of Jacksonville, Health Care Facilities, Baptist Health | 0.004091 | | | City of Sea Isle City | 0.004079 | | | Connecticut Housing Finance Authority, Housing Mortgage Finance Program, Series 2025, Subseries C-3 | 0.004038 | | | MONMOUTH COUNTY IMPROVEMENT AUTHORITY/THE | 0.004018 | | | City of Houston | 0.003846 | | ## Sources - N-PORT (fund A) — accession `0002048251-26-004562` (as of 2026-03-31) - N-PORT (fund B) — accession `0002071691-26-009312` (as of 2026-02-28) --- _Informational only — not investment advice. 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