ActivePassive Intermediate Municipal Bond ETF

Frequently Asked Questions About APMU

What does APMU invest in?

This actively managed exchange-traded fund (ETF) strategically combines active and passive investment approaches. Its primary objective is to achieve superior cost efficiency, improve its tracking performance against its benchmark—the Bloomberg Municipal 1-10 Year Blend Index—and enhance potential returns. Under typical market conditions, the fund will commit at least 80% of its total assets to U.S. municipal debt instruments that are exempt from U.S. federal income tax and carry an investment-grade credit rating or better.

What is the expense ratio of APMU?

ActivePassive Intermediate Municipal Bond ETF (APMU) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.

What is APMU's dividend yield?

APMU's trailing-twelve-month yield is 2.54%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of APMU?

Effective duration measures APMU's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. APMU's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of APMU?

APMU's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of APMU?

Yield to maturity (YTM) is the total return you'd earn from APMU if every bond in the portfolio is held to maturity at the current price. APMU's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.