APMU vs. APUE

Last updated Apr 1, 2026

Compare and contrast key facts about ActivePassive Intermediate Municipal Bond ETF (APMU) and ActivePassive U.S. Equity ETF (APUE).

APMU and APUE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. APMU is an actively managed fund by ActivePassive. It was launched on May 2, 2023. APUE is an actively managed fund by ActivePassive. It was launched on May 2, 2023.

Performance

APMU vs. APUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive Intermediate Municipal Bond ETF (APMU) and ActivePassive U.S. Equity ETF (APUE). The values are adjusted to include any dividend payments, if applicable.

APMU vs. APUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APMU ActivePassive Intermediate Municipal Bond ETF	-0.44%	4.50%	0.86%	1.24%
APUE ActivePassive U.S. Equity ETF	-3.82%	17.49%	23.89%	18.42%

Returns By Period

In the year-to-date period, APMU achieves a -0.44% return, which is significantly higher than APUE's -3.82% return.

APMU

• 1D: 0.32%
• 1M: -2.04%
• YTD: -0.44%
• 6M: 0.28%
• 1Y: 3.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APUE

• 1D: 3.03%
• 1M: -4.78%
• YTD: -3.82%
• 6M: -0.90%
• 1Y: 18.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APMU vs. APUE - Expense Ratio Comparison

APMU has a 0.36% expense ratio, which is higher than APUE's 0.33% expense ratio.

APMU

ActivePassive Intermediate Municipal Bond ETF

APUE

ActivePassive U.S. Equity ETF

Return for Risk

APMU vs. APUE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APMU

APMU Risk / Return Rank: 61
APMU Sharpe Ratio Rank: 66
APMU Sortino Ratio Rank: 59
APMU Omega Ratio Rank: 71
APMU Calmar Ratio Rank: 59
APMU Martin Ratio Rank: 51

APUE

APUE Risk / Return Rank: 65
APUE Sharpe Ratio Rank: 61
APUE Sortino Ratio Rank: 62
APUE Omega Ratio Rank: 65
APUE Calmar Ratio Rank: 64
APUE Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APMU vs. APUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive Intermediate Municipal Bond ETF (APMU) and ActivePassive U.S. Equity ETF (APUE). 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.

	APMU	APUE	Difference
Sharpe ratio Return per unit of total volatility	1.18	1.07	+0.11
Sortino ratio Return per unit of downside risk	1.55	1.60	-0.04
Omega ratio Gain probability vs. loss probability	1.27	1.24	+0.03
Calmar ratio Return relative to maximum drawdown	1.55	1.64	-0.09
Martin ratio Return relative to average drawdown	4.99	7.68	-2.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APMU vs. APUE - Sharpe Ratio Comparison

The current APMU Sharpe Ratio is 1.18, which is comparable to the APUE Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of APMU and APUE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APMU	APUE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.07	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	1.29	-0.54

Correlation

The correlation between APMU and APUE is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

APMU vs. APUE - Dividend Comparison

APMU's dividend yield for the trailing twelve months is around 2.62%, more than APUE's 0.87% yield.

	TTM	2025	2024	2023
APMU ActivePassive Intermediate Municipal Bond ETF	2.62%	2.63%	2.42%	1.31%
APUE ActivePassive U.S. Equity ETF	0.87%	0.83%	0.79%	0.41%

Drawdowns

APMU vs. APUE - Drawdown Comparison

The maximum APMU drawdown since its inception was -4.39%, smaller than the maximum APUE drawdown of -18.83%. Use the drawdown chart below to compare losses from any high point for APMU and APUE.

Drawdown Indicators

	APMU	APUE	Difference
Max Drawdown Largest peak-to-trough decline	-4.39%	-18.83%	+14.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-11.90%	+9.50%
Current Drawdown Current decline from peak	-2.04%	-6.22%	+4.18%
Average Drawdown Average peak-to-trough decline	-0.90%	-2.14%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	2.55%	-1.81%

Volatility

APMU vs. APUE - Volatility Comparison

The current volatility for ActivePassive Intermediate Municipal Bond ETF (APMU) is 1.06%, while ActivePassive U.S. Equity ETF (APUE) has a volatility of 5.40%. This indicates that APMU experiences smaller price fluctuations and is considered to be less risky than APUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APMU	APUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	5.40%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	1.83%	9.72%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	2.93%	17.69%	-14.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	14.83%	-12.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.83%	14.83%	-12.00%