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 0.35%.

Fund Data & Pricing Data as of 09/22/2023
Net Assets as of 09/22/2023 $30.16m
NAV $24.13
Shares Outstanding 1,250,000
Premium/discount Percentage 0.16%
Closing Price $24.17
Median 30 Day Spread 0.04%

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
Expense Ratio 0.35%
30 Day Sec Yield*

* As of 05/03/2023

Performance Quarter end returns as of 05/31/2023
  Avg. Annualized  
  Quarter 1 Year 3 Year Since Inception
Fund NAV 00.00% 00.00% 00.00% -1.93%
Market Price 00.00% 00.00% 00.00% -1.79%
Bloomberg Municipal 1-10 Year Blend Index 00.00% 00.00% 00.00% 00.00%

Expense ratio: 0.35%

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.

Distribution Detail
Ex-Date Record Date 1 Year Payable Date
7/03/2023 7/05/2023 - 7/06/2023
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
5.94% ISHARES TR NATIONAL MUN ETF MUB 464288414 17,230 1,791,230.80
2.60% NEW JERSEY ST EDL FACS AUTH RE REV BDS 4% 07/01/20 6460657X4 6460657X4 790,000 783,579.35
2.53% MARYLAND ST DEPT TRANSN CONS T BDS 4% 10/01/2030 574204R62 574204R62 735,000 761,745.47
2.47% NEVADA ST HWY IMPT REV 3% 12/01/2029 641480JB5 641480JB5 780,000 743,906.51
2.09% NORTH CAROLINA ST GRANT ANTIC GRANT ANTIC REV VEHI 658268DF1 658268DF1 620,000 630,271.54
2.06% Cash & Other Cash&Other Cash&Other 621,372 621,371.59
1.67% NEW JERSEY ST TPK AUTH TPK REV REV BDS 5% 01/01/20 6461397F6 6461397F6 475,000 503,819.01
1.67% MASSACHUSETTS ST HSG FIN AGY H BDS 3.05% 12/01/202 57587GWC5 57587GWC5 520,000 503,424.48
1.43% PENNSYLVANIA ST 5% 08/15/2032 70914PYB2 70914PYB2 420,000 432,334.60
1.43% NEW YORK ST TWY AUTH GEN REV REV REF BDS 5% 01/01/ 650009F99 650009F99 425,000 431,444.70

Data as of 09/25/2023. Holdings are subject to change.