# Strategic Advisers Municipal Bond Fund

Strategic Advisers Municipal Bond Fund is a registered fund series of Fidelity Rutland Square Trust II (series S000072234). Net assets $14.3B as of 2026-05-31.

## Profile

- Series ID: S000072234
- Registrant: Fidelity Rutland Square Trust II
- LEI: 549300GS87OIPT0BBW50
- Net assets: $14.3B
- Total assets: $14.5B
- As of: 2026-05-31
- Type: Fund of funds

## Advisers

- [Strategic Advisers LLC (Advisor)](https://search.stillhousedata.com/firm/104555)
- [T Rowe Price Associates, Inc. (Subadvisor)](https://search.stillhousedata.com/firm/105496)
- [Massachusetts Financial Services Company (Subadvisor)](https://search.stillhousedata.com/firm/110045)
- [FIAM LLC (Subadvisor)](https://search.stillhousedata.com/firm/133196)
- Delaware Investments Fund Advisers (Subadvisor)
- MacKay Shields LLC (Subadvisor)
- Western Asset Management Company, LLC (Subadvisor)

## Top holdings (200 reported)

_Showing 15 of 200 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| [WELLS FARGO FDS TR](https://search.stillhousedata.com/security/949917793) | — | $902.7M | 629.38% |
| [VANGUARD MUN BD FD INC](https://search.stillhousedata.com/security/922907860) | — | $691.6M | 482.22% |
| [FRANKLIN FED TAX FR INCOME FD](https://search.stillhousedata.com/security/353519606) | — | $664.0M | 462.93% |
| [Fidelity Colchester Street Trust](https://search.stillhousedata.com/security/31607A703) | — | $488.3M | 340.46% |
| [Fidelity Salem Street Trust](https://search.stillhousedata.com/security/31635T146) | — | $343.0M | 239.18% |
| [VANGUARD MUN BD FD INC](https://search.stillhousedata.com/security/922907746) | — | $340.8M | 237.58% |
| [ISHARES TR](https://search.stillhousedata.com/security/464288414) | — | $337.7M | 235.45% |
| [DWS MUN TR](https://search.stillhousedata.com/security/25158T848) | — | $305.5M | 213.03% |
| [BLACKROCK MUN BD FD INC](https://search.stillhousedata.com/security/09253C603) | — | $262.2M | 182.84% |
| [EATON VANCE MUNICIPAL TR](https://search.stillhousedata.com/security/27826L249) | — | $248.1M | 172.98% |
| [AMERICAN HIGH INCOME MUN BD FD](https://search.stillhousedata.com/security/026545608) | — | $157.4M | 109.72% |
| [SHORT TERM INVTS TR](https://search.stillhousedata.com/security/825252885) | — | $79.7M | 55.56% |
| [PUERTO RICO SALES TAX FING CORP SALES TAX REV](https://search.stillhousedata.com/security/74529JPW9) | — | $38.7M | 27.01% |
| [MAIN STR NAT GAS INC GA GAS SUPPLY REV](https://search.stillhousedata.com/security/56035DDH2) | — | $37.2M | 25.91% |
| [BUCKEYE OH TOB SETTLEMENT FING AUTH](https://search.stillhousedata.com/security/118217CZ9) | — | $32.7M | 22.82% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2026-05-31 | $14.3B |
| 2026-02-28 | $14.0B |
| 2025-11-30 | $13.2B |
| 2025-08-31 | $12.6B |
| 2025-05-31 | $12.0B |
| 2025-02-28 | $11.9B |
| 2024-11-30 | $11.8B |
| 2024-08-31 | $12.0B |

## More

- [Registrant: Fidelity Rutland Square Trust II](https://search.stillhousedata.com/registrant/1364924)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000072234.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

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Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.