Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
ActivePassive Core Bond ETF
$28.28+0.02 (+0.05%)
- 0.36%
- $987M
- −1.7%
- 4.26%
- 0.1M sh
- $28.21
- low $27.98high $30.18
The ETF.net APCB Grade
B
Score 59 out of 100
- 61 of 117
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C46 out of 100Rank 61 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 61 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 39 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C47 out of 100Rank 64 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C42 out of 100Rank 86 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B58 out of 100Rank 54 of 117
Our read on APCB
BA 2023 arrival in the crowded core bond aisle, built for current income with relatively low principal volatility, and priced at the category median rather than near the three-basis-point index giants.
The Fund seeks current income while maintaining relatively low principal volatility.
Why people hold it
- Runs tight to its stated job: current income with relatively low principal volatility. What the prospectus describes is what the portfolio has actually done.
- Pays monthly rather than quarterly, so the income arrives on a bill-paying rhythm.
- The 0.37% fee sits essentially at the core bond median of 0.36%, so the newer approach does not carry a premium price tag.
- Lands in the upper half of a core bond field nearly 200 funds deep, which is not nothing in the most commoditized corner of the ETF market.
Worth knowing
- Cost is the trade-off: BND, SPAB and SCHZ cover core bond duty at 0.03%, a fraction of this fund's 0.37%.
- Launched in 2023, so there is no long track record across a full rate cycle to lean on.
- Moderately traded, not a volume monster, so spreads deserve a look and limit orders are the usual tool.
APCB Holdings
- Bonds
- 1,916
- 32%
- MBB
Sectors
- Technology100.0%
Geography
- United States100.00%
APCB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
APCB$9,827
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | APCB |
|---|---|
| Year to date | −2.2% |
| 1 month | −0.8% |
| 3 months | −2.4% |
| 1 year | −1.7% |
| 3 years | +4.3% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | APCB |
|---|---|---|
| 2026 YTD | −2.2% | |
| 2025 | +6.9% | |
| 2024 | +1.4% | |
| 2023 | +1.6% |
APCB in the news
APCB Dividends
- 4.26%
- $1.20
- $0.03 per share
- Monthly
Distribution history
APCB Risk
- 5.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.11
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −6.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.96
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
APCB Cost
0.36%
APCB0.36%
- The middle half of US Aggregate Bond funds
- Median 0.34%
61 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BGTOSInvesco Short Duration Total Return Bond ETFExpense ratio 0.31%1 year return +2.7%
- BUBNDVictoryShares Core Plus Bond ETFExpense ratio 0.45%1 year return −1.7%
- BCPAGF/m Compoundr U.S. Aggregate Bond ETFExpense ratio 0.31%1 year return −2.7%
- BJPIEJPMorgan Income ETFExpense ratio 0.40%1 year return +2.6%
- BDBNDDoubleLine Opportunistic Core Bond ETFExpense ratio 0.45%1 year return −2.1%