ActivePassive Intermediate Municipal Bond ETF
$24.11−0.16 (−0.66%)
- Expense ratio
- 0.35%
- Fund size
- $248M
- 1Y return
- −1.4%
- Yield · Last 12 months
- 2.67%
- Volume · 30D
- 0M sh
- NAV per share
- $24.30
- 52W range
The ETF.net APMU Grade
Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 37Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 86Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 49Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 34Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 65Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 45Category rank
Our read on APMU
CFederally 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
- —
- 11%
- MUB
Sectors
- Financials100.0%
APMU Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | −1.7% |
| 1 month | −2.1% |
| 3 months | −2.3% |
| 1 year | −1.4% |
| 3 years | +2.6% |
| 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 | −1.7% | |
| 2025 | +4.5% | |
| 2024 | +0.9% | |
| 2023 | +1.2% |
APMU in the news
ETF.net Research hasn’t filed on APMU yet — coverage lands here as it’s written.
APMU Dividends
- 2.67%
- $0.65
- $0.03 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 2, 2026 | $0.03 |
| Aug 3, 2026 | Aug 4, 2026 | $0.06 |
| Jul 1, 2026 | Jul 2, 2026 | $0.06 |
| Jun 1, 2026 | Jun 2, 2026 | $0.06 |
| May 1, 2026 | May 4, 2026 | $0.05 |
| Apr 1, 2026 | Apr 2, 2026 | $0.07 |
| Mar 2, 2026 | Mar 3, 2026 | $0.05 |
| Feb 2, 2026 | Feb 3, 2026 | $0.04 |
| Dec 23, 2025 | Dec 24, 2025 | $0.07 |
| Nov 28, 2025 | Dec 1, 2025 | $0.05 |
| Nov 3, 2025 | Nov 4, 2025 | $0.06 |
| Oct 1, 2025 | Oct 2, 2025 | $0.06 |
APMU Risk
- 3.5%
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.
- −0.43
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.
- −4.4%
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.
- 0.63
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
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
9 of the 19 Intermediate Municipal Bonds funds charge less.