Active Passive FundsMuni National IntermediateAPMU · NYSE Arca

ActivePassive Intermediate Municipal Bond ETF (APMU)

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Price: $24.40; —11 Sept 2026
Assets: $246.5M; Total net assets
Expense ratio: 0.35%; Category 0.62%
Yield: 2.73%; Trailing distributions

1Y return: -0.6%-1.1%; Category 0.5%
3Y CAGR: 2.5%-0.6%; Category 3.1%
5Y CAGR: —; Category 0.4%

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ActivePassive Intermediate Municipal Bond ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-1.3%	-1.6%	-1.6%	-1.1%	-0.6%	+2.5%	—	—	+1.6%
Muni National Intermediate average	-2.3%	-2.5%	-1.9%	-1.0%	0.5%	3.1%	0.4%	1.7%	1.6%
Difference	+1.0%	+0.9%	+0.2%	-0.1%	-1.1%	-0.6%	—	—	0.0%

Holdings

The 2 largest positions make up 6.8% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
FGXXX	First American Government Obligs X	3.51%
MUB	iShares National Muni Bond ETF	3.26%

Asset mix

What the fund is invested in.

Bonds97.0%
Cash3.9%

ETF details

Issuer: Active Passive Funds
Category: Fixed Income · Muni National Intermediate
Ticker: APMU
Exchange: NYSE Arca
Inception: 2 May 2023 (3.4 years)
Structure: Exchange Traded Fund
Expense ratio: 0.35% (category 0.62%)
Holdings turnover: 23% (category 43%)
Distribution yield: 2.73%
Beta, 3 years: 0.60
Total net assets: $246.5M
Average duration: 4.77 years
Average maturity: 10.51 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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