ActivePassive Intermediate Municipal Bond ETF (APMU)

APMU is an actively-managed fund that blends active and passive investment strategies to optimize costs, tracking and potential return over the Bloomberg Municipal 1-10 Year Blend Index, the Fund’s benchmark index. 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. APMU will invest at least 80% of its net assets in U.S. municipal bond securities that are exempt from U.S. federal income tax and are rated investment grade or better. The Fund may also invest up to 20% of its net assets in high-yield municipal bonds. The Fund carries an expense ratio of 0.36%.

Fund Data & Pricing Data as of 12/02/2024
Net Assets as of 12/02/2024 $149.11m
NAV $24.85
Shares Outstanding 6,000,000
Premium/discount Percentage 0.29%
Closing Price $24.92
Median 30 Day Spread 0.12%

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 APMU
Primary Exchange NYSE
CUSIP 89834G745
IOPV Symbol APMU.IV
NAV Symbol APMU.NV
Expense Ratio 0.36%
30 Day Sec Yield*

* As of 05/03/2023

Performance Quarter end returns as of 8/31/2024
  Avg. Annualized  
  3 Month 6 Month 9 Month 1 Year Since Inception
Fund NAV 3.08% 1.47% 2.86% 4.47% 1.83%
Market Price 2.82% 1.23% 2.98% 4.63% 1.95%
Bloomberg Municipal 1-10 Year Blend Total Return Index 3.09% 1.42% 2.80% 4.07 3.04%

Expense ratio: 0.36%

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
12/02/2024 12/02/2024 12/03/2024
11/01/2024 11/01/2024 11/04/2024
10/01/2024 10/01/2024 10/02/2024
9/03/2024 9/03/2024 9/04/2024
8/01/2024 8/01/2024 8/02/2024
7/01/2024 7/01/2024 7/02/2024
6/03/2024 6/03/2024 6/04/2024
5/01/2024 5/02/2024 5/03/2024
4/02/2024 4/03/2024 4/04/2024
3/01/2024 3/04/2024 3/05/2024
2/01/2024 2/02/2024 2/05/2024
TOP 10 HOLDINGS
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
3.11% iShares National Muni Bond ETF MUB 464288414 42,993 4,658,721.48
1.99% First American Government Obligations Fund 12/01/2 FGXXX 31846V336 2,983,580 2,983,579.99
1.27% Private Colleges & Universities Authority 5% 09/01 74265L2X5 74265L2X5 1,645,000 1,897,166.16
1.23% Snohomish County Housing Authority 4% 04/01/2033 83309AGJ4 83309AGJ4 1,810,000 1,840,873.53
1.14% Cash & Other Cash&Other Cash&Other 1,701,094 1,701,093.53
1.10% State of Mississippi 4% 11/01/2035 605581HC4 605581HC4 1,630,000 1,648,590.48
1.05% Grant County Public Utility District No 2 Electric 387874YX2 387874YX2 1,560,000 1,576,707.13
1.04% Commonwealth of Pennsylvania 5% 09/01/2032 70914P2F8 70914P2F8 1,350,000 1,551,873.74
0.97% Los Angeles Unified School District/CA 5% 07/01/20 544647HN3 544647HN3 1,250,000 1,450,143.50
0.94% State of Ohio 5% 10/01/2031 677524DQ0 677524DQ0 1,240,000 1,403,422.95

Data as of 12/03/2024. Holdings are subject to change.