APMU vs. AMUN
APMU (ActivePassive Intermediate Municipal Bond ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.20 correlation means their historical movements had little consistent relationship. APMU charges 0.36%/yr vs 0.25%/yr for AMUN.
Performance
APMU vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, APMU achieves a -0.26% return, which is significantly lower than AMUN's 1.48% return.
APMU
- 1D
- 0.03%
- 1M
- -1.25%
- 6M
- -1.13%
- YTD
- -0.26%
- 1Y
- 1.72%
- 3Y*
- 2.62%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.94%
AMUN
- 1D
- 0.02%
- 1M
- 0.13%
- 6M
- 1.17%
- YTD
- 1.48%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.67K | $39.49K | $71.65K | |
| $473.47K | $1.05M | $778.81K |
APMU vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
APMU ActivePassive Intermediate Municipal Bond ETF | -0.26% | 0.22% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.48% | 0.14% |
Correlation
The correlation between APMU and AMUN is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025 | 0.20 |
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Return for Risk
APMU vs. AMUN — Risk / Return Rank
APMU
AMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
APMU vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ActivePassive Intermediate Municipal Bond ETF (APMU) and abrdn Ultra Short Municipal Income Active ETF (AMUN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APMU | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | — | — |
| Martin ratioReturn relative to average drawdown | 2.24 | — | — |
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Drawdowns
APMU vs. AMUN - Drawdown Comparison
The maximum APMU drawdown since its inception was -4.39%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for APMU and AMUN.
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Drawdown Indicators
| APMU | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.39% | -0.61% | -3.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -2.68% | — | — |
Current DrawdownCurrent decline from peak | -1.87% | 0.00% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -0.94% | -0.07% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | — | — |
Volatility
APMU vs. AMUN - Volatility Comparison
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Volatility by Period
| APMU | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.60% | 0.94% | +1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 0.94% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.81% | 0.94% | +1.87% |
APMU vs. AMUN - Expense Ratio Comparison
APMU has a 0.36% expense ratio, which is higher than AMUN's 0.25% expense ratio.
Dividends
APMU vs. AMUN - Dividend Comparison
APMU's dividend yield for the trailing twelve months is around 2.71%, more than AMUN's 2.13% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 2.13% | 0.66% | 0.00% | 0.00% |
APMU ActivePassive Intermediate Municipal Bond ETF | 2.49% | 2.63% | 2.42% | 1.31% |
Frequently Asked Questions
APMU and AMUN have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMUN is cheaper with a 0.25% expense ratio, compared with 0.36% for APMU.
APMU has the higher dividend yield at 2.49%, compared with 2.13% for AMUN.
They also come from different issuers: ActivePassive and abrdn. Their fees differ too: 0.36% for APMU and 0.25% for AMUN.
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