ActivePassive Intermediate Municipal Bond ETF
$24.14+0.03 (+0.12%)
- 0.35%
- $250M
- −1.7%
- 2.59%
- 0M sh
- $24.08
- low $23.76high $25.99
The ETF.net APMU Grade
B
Score 55 out of 100
- 13 of 20
Score 55 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.D37 out of 100Rank 11 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A89 out of 100Rank 15 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C48 out of 100Rank 13 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D38 out of 100Rank 15 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A70 out of 100Rank 4 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 15 of 20
Our read on APMU
BFederally tax-free monthly income from intermediate munis, with low volatility written into the mandate rather than implied. A 2023 arrival on a shelf ruled by index giants, priced above the muni-ETF median.
The Fund seeks current income exempt from federal income taxes while maintaining relatively low volatility.
Why people hold it
- The mandate is specific: current income exempt from federal income taxes, with relatively low volatility as a stated objective rather than a marketing line.
- Income lands monthly, the cadence most tax-free bond buyers actually budget around.
- Pure play. The mandate stays in municipal bonds, and the intermediate focus keeps it off the long end of the curve.
Worth knowing
- At 0.37% it prices above the 0.30% muni-ETF median, and far above index heavyweights like VTEB and SCMB at 0.03%.
- Thinly traded, so bid-ask spreads can bite more than they do in the category's household names.
- Launched in 2023 and still a small fund, it lands in the lower half of its muni peer group on the measures we track.
APMU Holdings
- Bonds
- 1,238
- 12%
- MUB
Sectors
- Municipal100.0%
APMU 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.
APMU$9,829
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 | APMU |
|---|---|
| Year to date | −2.2% |
| 1 month | −1.1% |
| 3 months | −2.6% |
| 1 year | −1.7% |
| 3 years | +2.8% |
| 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 | APMU |
|---|---|---|
| 2026 YTD | −2.2% | |
| 2025 | +4.5% | |
| 2024 | +0.9% | |
| 2023 | +1.2% |
APMU in the news
APMU Dividends
- 2.59%
- $0.62
- $0.03 per share
- Monthly
Distribution history
APMU Risk
- 3.8%
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.
- −0.49
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.
- −5.0%
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.
- 0.63
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
APMU Cost
0.35%
APMU0.35%
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
9 of the 19 Intermediate Municipal Bonds funds charge less.
Other funds in Intermediate Municipal Bonds
- BMMITNYLI MacKay Muni Intermediate ETFExpense ratio 0.40%1 year return −1.6%
- BMFSMMFS Active Exchange Traded Funds Trust - MFS Active Intermediate Muni Bond ETFExpense ratio 0.34%1 year return −1.7%
- CINMUiShares Intermediate Muni Income Active ETFExpense ratio 0.41%1 year return −1.0%
- CTXXIBondBloxx IR+M Tax-Aware Intermediate Duration ETFExpense ratio 0.35%1 year return −1.9%
- CINTMInvesco Actively Managed Exchange-Traded Fund Trust - Invesco Intermediate Municipal ETFExpense ratio 0.35%1 year return −0.7%