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%.