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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in ActivePassive Intermediate Municipal Bond ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
ActivePassive Intermediate Municipal Bond ETF (APMU) has returned -0.44% so far this year and 3.44% over the past 12 months.
ActivePassive Intermediate Municipal Bond ETF
- 1D
- 0.32%
- 1M
- -2.04%
- YTD
- -0.44%
- 6M
- 0.28%
- 1Y
- 3.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since May 3, 2023, APMU's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, your investment would double in approximately 32.1 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2023 with a return of +3.6%, while the worst month was May 2023 at -2.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, APMU closed higher 51% of trading days. The best single day was Nov 11, 2025 with a return of +0.8%, while the worst single day was Apr 7, 2025 at -1.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.88% | 0.75% | -2.04% | -0.44% | |||||||||
| 2025 | 0.55% | 0.74% | -0.71% | -0.42% | 0.48% | 0.99% | 0.40% | 0.62% | 1.05% | 0.39% | 0.14% | 0.20% | 4.50% |
| 2024 | -0.13% | -0.02% | -0.32% | -0.83% | -0.40% | 0.88% | 1.09% | 0.82% | 0.77% | -1.03% | 0.74% | -0.67% | 0.86% |
| 2023 | -2.06% | 0.60% | 0.03% | -0.77% | -1.88% | -0.08% | 3.63% | 1.89% | 1.24% |
Benchmark Metrics
ActivePassive Intermediate Municipal Bond ETF has an annualized alpha of 1.93%, beta of 0.01, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since May 04, 2023.
- This ETF participated in 24.65% of S&P 500 Index downside but only 13.86% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.01 may look defensive, but with R² of 0.00 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.00 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.93%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 13.86%
- Downside Capture
- 24.65%
Expense Ratio
APMU has an expense ratio of 0.36%, placing it in the medium range.
Return for Risk
Risk / Return Rank
APMU ranks 60 for risk / return — better than 60% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ActivePassive Intermediate Municipal Bond ETF (APMU) and compare them to a chosen benchmark (S&P 500 Index).
| APMU | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 0.90 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.55 | 1.39 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.40 | +0.15 |
Martin ratioReturn relative to average drawdown | 4.99 | 6.61 | -1.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore APMU risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
ActivePassive Intermediate Municipal Bond ETF provided a 2.62% dividend yield over the last twelve months, with an annual payout of $0.65 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.65 | $0.66 | $0.60 | $0.33 |
Dividend yield | 2.62% | 2.63% | 2.42% | 1.31% |
Monthly Dividends
The table displays the monthly dividend distributions for ActivePassive Intermediate Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.04 | $0.05 | $0.09 | |||||||||
| 2025 | $0.00 | $0.05 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.11 | $0.07 | $0.66 |
| 2024 | $0.00 | $0.04 | $0.04 | $0.05 | $0.03 | $0.05 | $0.05 | $0.06 | $0.06 | $0.05 | $0.05 | $0.11 | $0.60 |
| 2023 | $0.08 | $0.05 | $0.04 | $0.04 | $0.05 | $0.07 | $0.33 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ActivePassive Intermediate Municipal Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ActivePassive Intermediate Municipal Bond ETF was 4.39%, occurring on Oct 6, 2023. Recovery took 42 trading sessions.
The current ActivePassive Intermediate Municipal Bond ETF drawdown is 2.04%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -4.39% | May 4, 2023 | 108 | Oct 6, 2023 | 42 | Dec 6, 2023 | 150 |
| -2.46% | Mar 3, 2025 | 30 | Apr 11, 2025 | 48 | Jun 23, 2025 | 78 |
| -2.4% | Feb 27, 2026 | 18 | Mar 24, 2026 | — | — | — |
| -1.99% | Feb 2, 2024 | 82 | May 30, 2024 | 42 | Jul 31, 2024 | 124 |
| -1.68% | Oct 3, 2024 | 25 | Nov 6, 2024 | 73 | Feb 25, 2025 | 98 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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