CGMU vs FMB: Holdings Overlap
CGMUCapital Group Municipal Income ETF
Capital Group · 2128 holdings · $6.4B · as of 2026-03-31
FMBFirst Trust Managed Municipal ETF
First Trust · 1256 holdings · $2.0B · as of 2026-04-30
Holdings snapshots are 30 days apart (CGMU: 2026-03-31, FMB: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are CGMU and FMB?
Capital Group Municipal Income ETF (CGMU, by Capital Group) holds 2128 positions; First Trust Managed Municipal ETF (FMB, by First Trust) holds 1256. They have 90 holdings in common, and by portfolio weight the two funds are 5.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 5.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 90CGMU holds 2128 · FMB holds 1256
- Weight in Shared Holdings
- CGMU 7%·FMB 11%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in CGMU
2038 of 2128 positions (94.2% of the fund) are not held by FMB. Showing the top 30 by weight.
- PUERTO RICO CMWLTH0.67%
- TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES0.58%
- UNIV OF CALIFORNIA REVENUES0.56%
- NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE0.54%
- MONTGOMERY CNTY MD0.53%
- Harris County Cultural Education Facilities Finance Corp., Houston Methodist, Series 2026A0.51%
Only in FMB
1166 of 1256 positions (88.2% of the fund) are not held by CGMU. Showing the top 30 by weight.
- KY MEADEV 08/01/20610.81%
- GA MAIUTL 09/01/20520.73%
- NY NYCGEN 4 11/01/20370.50%
- City of Atlanta, Airport Passenger Facility Charge, Subordinate Lien, Series 2019D0.45%
- New York State Dormitory Authority, Series 2018E0.41%
- AL SEEPWR 11/01/20510.41%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| CGMU | -0.7% | +1.1% | +4.9% | +4.5% | — | — | 3.38% |
| FMB | -1.0% | +1.1% | +5.4% | +3.7% | +0.4% | +2.1% | 3.60% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in CGMU vs FMB →
Shared Holdings(90)
The top 10 shared positions account for 30% of the overlap, led by NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE, Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2 and Black Belt Energy Gas District, Gas Project, Series 2026A.
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE | 0.28% | 0.20% | 0.20% |
|---|---|---|---|
| Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2 | 0.57% | 0.17% | 0.17% |
| Black Belt Energy Gas District, Gas Project, Series 2026A | 0.16% | 0.16% | 0.16% |
| SOUTHEAST ENERGY AUTHORITY A COOPERATIVE | 0.31% | 0.15% | 0.15% |
| Black Belt Energy Gas District, Gas Project, Series 2023B-2 | 0.14% | 0.16% | 0.14% |
| Indiana (State of) Municipal Power Agency, Series 2016 A, Ref. RB | 0.26% | 0.14% | 0.14% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | 0.14% | 0.16% | 0.14% |
| TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE | 0.27% | 0.13% | 0.13% |
| BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE | 0.19% | 0.13% | 0.13% |
| Energy Southeast A Cooperative District, Series 2025A | 0.12% | 0.18% | 0.12% |
| Southeast Energy Authority A Cooperative District, Series 2025D | 0.12% | 0.27% | 0.12% |
| NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY | 0.11% | 0.16% | 0.11% |
| SALES TAX SECURITIZATION CORP IL | 0.15% | 0.11% | 0.11% |
| Black Belt Energy Gas District, Gas Supply, Series 2026B | 0.16% | 0.11% | 0.11% |
| California Community Choice Financing Authority, Clean Energy Project, Series 2025E | 0.19% | 0.11% | 0.11% |
| KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE | 0.15% | 0.11% | 0.11% |
| Black Belt Energy Gas District, Gas Project No. 6, Series 2021B | 0.10% | 0.50% | 0.10% |
| SOUTHEAST ENERGY AUTH AL COOPERATIVE DIST GAS SPLY REVENUE | 0.10% | 0.11% | 0.10% |
| WASHINGTON ST HSG FIN COMMISSION | 0.09% | 0.11% | 0.09% |
| DENVER CITY & CNTY CO ARPT REVENUE | 0.09% | 0.26% | 0.09% |
| MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE | 0.09% | 0.13% | 0.09% |
| HOUSTON TX ARPT SYS REVENUE | 0.10% | 0.09% | 0.09% |
| City of Houston Airport System, United Airlines, Inc., Terminal Improvement Projects, Series 2020A | 0.10% | 0.09% | 0.09% |
| Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023B | 0.09% | 0.46% | 0.09% |
| Kentucky Public Energy Authority, Gas Supply, Series 2023A-1 | 0.10% | 0.08% | 0.08% |
Frequently Asked Questions
How much do CGMU and FMB overlap?
CGMU and FMB overlap by 5.0% of portfolio weight. They share 90 holdings (CGMU holds 2128 positions and FMB holds 1256), based on each fund's latest SEC-reported holdings.
Is it redundant to own both CGMU and FMB?
The two portfolios are 5.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of CGMU and FMB?
The largest positions held by both funds are NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE, Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2, Black Belt Energy Gas District, Gas Project, Series 2026A, SOUTHEAST ENERGY AUTHORITY A COOPERATIVE and Black Belt Energy Gas District, Gas Project, Series 2023B-2. Together the top 10 shared positions account for 30% of the total overlap.
What does CGMU own that FMB doesn't?
2038 positions (94.2% of CGMU) are unique to CGMU, led by PUERTO RICO CMWLTH, TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES and UNIV OF CALIFORNIA REVENUES. In the other direction, 1166 positions (88.2% of FMB) are unique to FMB.