SMB vs BSMR overlap
SMB and BSMR overlap 3.5% by weight, across 65 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (SMB: July 31, 2026, BSMR: May 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | SMB | BSMR | Overlap |
|---|---|---|---|
| Washington DC MET Area Transit AUTH Gross Revenue | 0.21% | 0.17% | 0.17% |
| California Health Facilities Financing Authority, Series A-1 | 0.17% | 0.25% | 0.17% |
| North Carolina St-B | 0.19% | 0.16% | 0.16% |
| Pennsylvania Cmwlth - | 0.33% | 0.15% | 0.15% |
| California St-REF | 0.24% | 0.15% | 0.15% |
| NYC Transitional FIN | 0.15% | 0.16% | 0.15% |
| New York NY | 0.13% | 0.13% | 0.13% |
| California St-REF | 0.33% | 0.13% | 0.13% |
| N TX Tollwy AUTH-aNRTTRN | 0.16% | 0.12% | 0.12% |
| NY DORM AUTH-a | 0.19% | 0.11% | 0.11% |
| San Bernardino Cmnty | 0.18% | 0.10% | 0.10% |
| San Antonio TX ELEC & | 0.20% | 0.09% | 0.09% |
| Conroe Independent School District, Series 2020A | 0.65% | 0.08% | 0.08% |
| IL St TOLL HWY AUTH | 0.21% | 0.08% | 0.08% |
| California St-REF | 0.43% | 0.08% | 0.08% |
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: SMB, SEC Form N-PORT, July 31, 2026; BSMR, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | SMB | BSMR |
|---|---|---|
| Bank of America Corp. | $26.8M | $11.4M |
| Morgan Stanley | $15.1M | $13.8M |
| Raymond James Financial Inc. | $14.1M | $9.3M |
| LPL Financial LLC | $10.3M | $12.1M |
| Wells Fargo & Company | $10.2M | $10.3M |
| UBS Group AG | $6.1M | $5.2M |
| Savant Capital, LLC | $10.4M | $387K |
| Stifel Financial Corp. | $7.9M | $1.9M |
| Ameriprise Financial Inc. | $6.8M | $3.0M |
| Integrated Wealth Concepts LLC | $1.1M | $7.2M |
| HighTower Advisors, LLC | $696K | $5.8M |
| NewEdge Advisors, LLC | $456K | $5.1M |
| Thrivent Financial for Lutherans | $465K | $4.8M |
| Osaic Holdings, Inc. | $896K | $3.9M |
| Willis Johnson & Associates, Inc. | $3.5M | $1.0M |
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: SMB institutional holders, BSMR institutional holders.
Frequently asked questions
How much do SMB and BSMR overlap?
3.5% by weight, with 65 holdings in common, using holdings for SMB as of July 31, 2026 and BSMR as of May 31, 2026. The largest shared position is WASHINGTON DC MET AREA TRANSIT AUTH GROSS REVENUE.
Do institutions hold both SMB and BSMR?
31 Form 13F filers report positions in both, out of 216 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%.