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 07/19/2024
Net Assets as of 07/19/2024 $133.3m
NAV $24.69
Shares Outstanding 5,400,000
Premium/discount Percentage 0.20%
Closing Price $24.74
Median 30 Day Spread 0.16%

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 0.36%
30 Day Sec Yield*

* As of 05/03/2023

Performance Quarter end returns as of 5/31/2024
  Avg. Annualized  
  3 Month 6 Month 9 Month Since Inception
Fund NAV -1.56% -0.21% 1.36% -0.61%
Market Price -1.54% 0.16% 1.76% -0.20%
Bloomberg Municipal 1-10 Year Blend Total Return Index -1.62% -0.28% 1.61% 0.95%

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
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
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
20.47% iShares National Muni Bond ETF MUB 464288414 254,626 27,290,814.68
1.36% Snohomish County Housing Authority 4% 04/01/2033 83309AGJ4 83309AGJ4 1,810,000 1,808,510.91
1.35% First American Government Obligations Fund 12/01/2 FGXXX 31846V336 1,803,243 1,803,242.96
1.17% Grant County Public Utility District No 2 Electric 387874YX2 387874YX2 1,540,000 1,559,778.99
1.07% Los Angeles Unified School District/CA 5% 07/01/20 544647HN3 544647HN3 1,250,000 1,423,107.88
1.02% Maine Municipal Bond Bank 5% 11/01/2028 56045R7R4 56045R7R4 1,250,000 1,354,837.88
0.99% State of Maryland 5% 06/01/2032 574193WL8 574193WL8 1,140,000 1,316,190.19
0.87% Board of Regents of the University of Texas System 91514AHG3 91514AHG3 1,130,000 1,154,839.77
0.84% State of Oregon 5% 05/01/2030 68609UKM6 68609UKM6 1,000,000 1,113,864.10
0.83% Illinois Finance Authority 5% 04/01/2030 45204FWV3 45204FWV3 1,000,000 1,104,080.60

Data as of 07/22/2024. Holdings are subject to change.