ActivePassive U.S. Equity ETF (APUE)

APUE is an actively-managed fund that blends active and passive investment strategies to optimize costs, tracking and potential return over the CRSP U.S. Total Market 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 the firm’s proprietary methodologies and academic research on factor investing.

APUE will invest at least 80% of its net assets in equity securities of U.S. companies included in the CRSP U.S. Total Market Index. The CRSP U.S. Total Market Index tracks constituents across the capitalization spectrum and represents nearly 100% of the investable U.S. equity market. The Fund will invest at least 60% of its net assets in equity securities of U.S. companies with large market capitalizations. The Fund’s investment in equity securities may include common stock and preferred stock. The Fund carries an expense ratio of 0.33%.

Fund Data & Pricing Data as of 07/26/2024
Net Assets as of 07/26/2024 $1560.84m
NAV $33.62
Shares Outstanding 46,425,000
Premium/discount Percentage -0.16%
Closing Price $33.57
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
Fund Inception 05/03/2023
Ticker APUE
Primary Exchange NYSE
CUSIP 89834G729
IOPV Symbol APUE.IV
NAV Symbol APUE.NV
Expense Ratio 0.33%
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 Cumulative
Fund NAV 3.59% 16.66% 18.19% 30.94%
Market Price 3.46% 16.74% 18.07% 30.99%
CRSP U.S. Total Market Index 3.33% 15.99% 17.58% 29.78%

Expense ratio: 0.33%

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
12/26/2023 12/27/2023 12/28/2023
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TOP 10 HOLDINGS
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
10.10% Dimensional US Small Cap ETF DFAS 25434V500 2,423,304 157,635,925.20
6.14% Microsoft Corp MSFT 594918104 225,506 95,900,936.62
6.09% Apple Inc AAPL 037833100 435,794 94,985,660.24
5.14% NVIDIA Corp NVDA 67066G104 709,193 80,181,360.58
3.35% Amazon.com Inc AMZN 023135106 286,430 52,273,475.00
2.14% Alphabet Inc GOOGL 02079K305 199,632 33,338,544.00
2.07% Meta Platforms Inc META 30303M102 69,435 32,335,879.50
1.96% Berkshire Hathaway Inc BRK/B 084670702 69,899 30,591,996.34
1.74% Alphabet Inc GOOG 02079K107 160,851 27,132,346.68
1.54% JPMORGAN CHASE & CO. JPM 46625H100 113,023 23,988,001.52

Data as of 07/29/2024. 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.

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 CRSP U.S. Total Market Index captures broad U.S. equity market coverage and include securities traded on NYSE, NYSE American, NYSE ARCA, NASDAQ, Bats Global Markets, and the Investors Exchange. Nearly 4,000 constituents across mega, large, small and micro capitalizations, representing nearly 100 percent of the U.S. investable equity market.

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