FMB vs SPY: Holdings Overlap
FMBFirst Trust Managed Municipal ETF
First Trust · 1256 holdings · $2.0B · as of 2026-04-30
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (FMB: 2026-04-30, SPY: 2026-08-06). 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 FMB and SPY?
First Trust Managed Municipal ETF (FMB, by First Trust) holds 1256 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 0 holdings in common, and by portfolio weight the two funds are 0.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 0FMB holds 1256 · SPY holds 504
- Weight in Shared Holdings
- FMB 0%·SPY 0%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 FMB
1256 of 1256 positions (99.4% of the fund) are not held by SPY. Showing the top 30 by weight.
- KY MEADEV 08/01/20610.81%
- GA MAIUTL 09/01/20520.73%
- Black Belt Energy Gas District, Gas Project No. 6, Series 2021B0.50%
- NY NYCGEN 4 11/01/20370.50%
- Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023B0.46%
- Energy Southeast A Cooperative District, Series 2023A-10.46%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FMB | -1.0% | +1.1% | +5.4% | +3.7% | +0.4% | +2.1% | 3.60% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
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 FMB vs SPY →
Shared Holdings(0)
These two funds have no holdings in common.
Frequently Asked Questions
How much do FMB and SPY overlap?
FMB and SPY overlap by 0.0% of portfolio weight. They share 0 holdings (FMB holds 1256 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FMB and SPY?
The two portfolios are 0.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What does FMB own that SPY doesn't?
1256 positions (99.4% of FMB) are unique to FMB, led by KY MEADEV 08/01/2061, GA MAIUTL 09/01/2052 and Black Belt Energy Gas District, Gas Project No. 6, Series 2021B. In the other direction, 504 positions (99.9% of SPY) are unique to SPY.