ActivePassive International Equity ETF (APIE)

APIE is an actively-managed fund that blends active and passive investment strategies to optimize costs, tracking and potential return over the S&P Classic ADR Composite Index, the Fund’s benchmark index. The Fund also employs a strategic beta strategy for a portion of the Fund’s investment portfolio. The ratio of the Fund’s investment portfolio that is actively versus passively managed is determined by a variety of factors, including Envestnet's proprietary methodologies and academic research on factor investing. 

APIE will invest at least 80% of its net assets in equity securities of non-U.S. companies with varying market capitalizations. The Fund’s investment in equity securities may include common stock and preferred stock of companies that are either domiciled or have their primary operations outside the United States. The Fund may invest in companies located in non-U.S. developed markets and in companies located in emerging markets. The Fund may also invest in both American depositary receipts (“ADRs”) and in securities of non-U.S. companies that are denominated in foreign currencies. The Fund carries an expense ratio of 0.45%.

Fund Data & Pricing Data as of 12/01/2023
Net Assets as of 12/01/2023 $88.23m
NAV $25.76
Shares Outstanding 3,425,000
Premium/discount Percentage 1.18%
Closing Price $26.07
Median 30 Day Spread 0.78%

Median 30 Day Spread is a calculation of Fund's median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Fund Details
Inception Date 05/03/2023
Ticker APIE
Primary Exchange NYSE
CUSIP 89834G737
IOPV Symbol APIE.IV
NAV Symbol APIE.NV
Expense Ratio 0.45%

* As of 05/03/2023

Performance Quarter end returns as of 08/31/2023
  Avg. Annualized  
  3 Month 6 Month 9 Month Since Inception
Fund NAV 4.70% 00.00% 00.00% 2.12%
Market Price 4.50% 00.00% 00.00% 2.16%
S&P Classic ADR Composite Index (USD) NTR 3.91% 00.00% 00.00% 1.05%

Expense ratio: 0.45%

Inception Date:  05/03/2023

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 1-800-617-0004.

Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

Periods of less than 1-Year are unannualized

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

Distribution Detail
Ex-Date Record Date 1 Year Payable Date
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
DOWNLOAD PREMIUM DISCOUNT INFORMATION
TOP 10 HOLDINGS
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
3.45% TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM 874039100 30,859 3,041,154.45
3.00% RELX PLC RELX 759530108 68,712 2,649,534.72
2.15% NOVO-NORDISK A S NVO 670100205 18,895 1,897,058.00
2.08% NESTLE S A NSRGY 641069406 16,130 1,837,207.00
1.96% TENCENT HOLDINGS LIMITED TCEHY 88032Q109 42,218 1,732,626.72
1.93% SIEMENS A G SIEGY 826197501 20,033 1,701,603.02
1.90% NOVARTIS AG NVS 66987V109 17,065 1,674,588.45
1.85% SAP SE SAP 803054204 10,197 1,632,437.73
1.67% L OREAL CO LRLCY 502117203 15,469 1,472,648.80
1.63% TOYOTA MOTOR CORP TM 892331307 7,482 1,442,080.68

Data as of 12/04/2023. Holdings are subject to change.

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IMPORTANT INFORMATION:

Investing in securities involves risk and there is no guarantee of principal.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 1-800-617-0004 or visit our website at www.activepassive.com. Read the prospectus or summary prospectus carefully before investing.

The information, analysis, and opinions expressed herein are for general information only. Nothing contained herein is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Investing carries certain risks and there is no assurance that investing in accordance with the portfolios mentioned will provide positive performance over any period of time. Investors could lose money if they invest in accordance with the portfolios discussed herein. Past performance is not indicative of future results.
 
Exchange Traded Funds (ETFs) are subject to risks similar to those of stocks, such as market risk. Investing in ETFs may bear indirect fees and expenses charged by ETFs in addition to its direct fees and expenses, as well as indirectly bearing the principal risks of those ETFs. Income (bond) ETFs are subject to interest rate risk which is the risk that debt securities in a fund’s portfolio will decline in value because of increases in market interest rates.
 
Investments that utilize an ActivePassive strategy carry specific risks that investors should consider before investing in ActivePassive portfolios. In certain market conditions, combining active and passive investment strategies may lose value or underperform fully active or fully passive strategies. ActivePassive investment strategies are also subject to the risks of both active and passive investment strategies. Active investment strategies are subject to active risk. Active risk arises by deviating a portfolio or investment away from its passive benchmark through portfolio management decisions that are made by either humans or software which are subject to error and/or bias. Passive investment strategies have the risk of not closely track the performance of the underlying index they seek to replicate. While attempting to track an index, passive investments often do not consider a company’s profitability, financial health, or growth potential in their investment selection criteria.
 
Advisors should always conduct their own research and due diligence on investment products and the product managers prior to offering or making a recommendation to a client.

Foreign and Emerging Markets Risk. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility, and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid, and more volatile than securities markets in more developed markets. American Depositary Receipt Risk (ADR). ADRs involve risks like those associated with investments in foreign securities, including changes in political or economic conditions of other countries and changes in the exchange rates of foreign currencies. ADRs listed on U.S. exchanges are issued by banks or trust companies and entitle the holder to all dividends and capital gains paid out on the underlying foreign shares. Investing in ADRs as a substitute for an investment directly in the foreign company shares, exposes the Fund to the risk that the ADRs may not provide a return that corresponds precisely with that of the foreign company’s shares. Market Capitalization Risk. Securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Securities of small- and mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. There is typically less publicly available information concerning smaller-capitalization companies than for larger, more established companies. New Fund Risk. The Fund is a recently organized, giving prospective investors a limited track record on which to base their investment decision.

The S&P/BNY Mellon DM ex U.S. World Classic ADR Index seeks to track all American depositary receipts trading on the NYSE, NYSE American, NASDAQ, and over-the-counter (OTC) in the United States, subject to size and liquidity requirements.

The funds are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Envestnet.