JMSI vs GMUB overlap

JMSI and GMUB overlap 2.3% by weight, across 11 shared holdings.

JMSIGMUB

Pick 2 to 4 ETFs.

2.3%

overlap by weight, across 11 shared holdings

JMSI5.3% of the fund is in shared holdings, of 255

GMUB2.6% of the fund is in shared holdings, of 529

Top shared holdings

Holding	JMSI	GMUB	Overlap
Black BELT ENE 5% 12/1/2034	0.76%	0.38%	0.38%
DIST of Columbia-a	1.22%	0.30%	0.30%
Nashville ETC MET-B	0.29%	0.39%	0.29%
FL Wpbutl 5 10/01/2042	0.27%	0.54%	0.27%
Tarrant TX EDFC 5% 11/15/2064 MTTAREDU	0.58%	0.20%	0.20%
FL Hlthcare FAC 5% MT	0.57%	0.19%	0.19%
RI H and E BLDG CO 5% 5/15/2031	0.28%	0.19%	0.19%
Kentucky PUB ENGY-BKYSPWR	0.20%	0.18%	0.18%
CA Cmnty Choice-a-1	0.28%	0.18%	0.18%
CA Cmnty Choice FING	0.30%	0.05%	0.05%
City of Detroit	0.59%	0.04%	0.04%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: JMSI, SEC Form N-PORT, May 31, 2026; GMUB, SEC Form N-PORT, May 31, 2026.

institutions report holding both, of 111 holding any

JMSI62.9% of its 13F dollars, 25.4% of its 67 holders

GMUB32.7% of its 13F dollars, 27.9% of its 61 holders

Largest institutions holding both

Firm	JMSI	GMUB
Betterment LLC	$100.1M	$51.7M
JPMorgan Chase & Co	$51.5M	$9.0M
Envestnet Asset Management Inc.	$9.3M	$14.8M
Integrated Wealth Concepts LLC	$10.5M	$2.6M
Goldman Sachs Group Inc.	$1.9M	$5.1M
LPL Financial LLC	$2.5M	$3.3M
Farther Finance Advisors, LLC	$1.5M	$3.6M
GGM Financial LLC	$232K	$2.3M
Perigon Wealth Management, LLC	$1.3M	$1.0M
WealthPlan Investment Management, LLC	$289K	$1.4M
Elequin Capital, LP	$1.4M	$37K
Jane Street Group, LLC	$407K	$1.1M
Citadel Advisors LLC	$497K	$651K
Fifth Third Bancorp	$242K	$527K
IFP Advisors, Inc	$206K	$150K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: JMSI institutional holders, GMUB institutional holders.

Frequently asked questions

How much do JMSI and GMUB overlap?

2.3% by weight, with 11 holdings in common, using holdings for JMSI as of May 31, 2026 and GMUB as of May 31, 2026. The largest shared position is BLACK BELT ENE 5% 12/1/2034.

Do institutions hold both JMSI and GMUB?

17 Form 13F filers report positions in both, out of 111 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.