APMU vs. KMID

Last updated Jun 24, 2026

APMU (ActivePassive Intermediate Municipal Bond ETF) and KMID (Virtus KAR Mid-Cap ETF) are both exchange-traded funds - APMU is a Municipal Bonds fund actively managed by ActivePassive, while KMID is a Mid Cap Growth Equities fund actively managed by Virtus. Both are actively managed. Over the past year, APMU returned 3.76% vs -0.30% for KMID. At a 0.16 correlation, their price movements are largely independent. APMU charges 0.36%/yr vs 0.80%/yr for KMID.

Performance

APMU vs. KMID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive Intermediate Municipal Bond ETF (APMU) and Virtus KAR Mid-Cap ETF (KMID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APMU achieves a 0.58% return, which is significantly lower than KMID's 0.87% return.

APMU

• 1D: -0.06%
• 1M: 0.85%
• YTD: 0.58%
• 6M: 0.76%
• 1Y: 3.76%
• 3Y*: 2.89%
• 5Y*: —
• 10Y*: —

KMID

• 1D: -1.17%
• 1M: -0.06%
• YTD: 0.87%
• 6M: -0.56%
• 1Y: -0.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APMU vs. KMID - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APMU ActivePassive Intermediate Municipal Bond ETF	0.58%	4.50%	-0.57%
KMID Virtus KAR Mid-Cap ETF	0.87%	0.31%	-3.02%

Correlation

The correlation between APMU and KMID is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 16, 2024	0.16

Return for Risk

APMU vs. KMID — Risk / Return Rank

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

APMU

APMU Risk / Return Rank: 44
APMU Sharpe Ratio Rank: 49
APMU Sortino Ratio Rank: 49
APMU Omega Ratio Rank: 55
APMU Calmar Ratio Rank: 34
APMU Martin Ratio Rank: 32

KMID

KMID Risk / Return Rank: 8
KMID Sharpe Ratio Rank: 9
KMID Sortino Ratio Rank: 8
KMID Omega Ratio Rank: 8
KMID Calmar Ratio Rank: 9
KMID Martin Ratio Rank: 9

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. KMID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive Intermediate Municipal Bond ETF (APMU) and Virtus KAR Mid-Cap ETF (KMID). 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	KMID	Difference
Sharpe ratio: Return per unit of total volatility	1.54	-0.02	+1.56
Sortino ratio: Return per unit of downside risk	2.24	0.08	+2.16
Omega ratio: Gain probability vs. loss probability	1.31	1.01	+0.30
Calmar ratio: Return relative to maximum drawdown	1.57	-0.03	+1.60
Martin ratio: Return relative to average drawdown	4.46	-0.07	+4.52

APMU vs. KMID - Sharpe Ratio Comparison

The current APMU Sharpe Ratio is 1.54, which is higher than the KMID Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of APMU and KMID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APMU vs. KMID - Drawdown Comparison

The maximum APMU drawdown since its inception was -4.39%, smaller than the maximum KMID drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for APMU and KMID.

Drawdown Indicators

	APMU	KMID	Difference
Max Drawdown Largest peak-to-trough decline	-4.39%	-18.89%	+14.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-10.71%	+8.31%
Max Drawdown (3Y) Largest decline over 3 years	-3.41%	—	—
Current Drawdown Current decline from peak	-1.04%	-6.21%	+5.17%
Average Drawdown Average peak-to-trough decline	-0.93%	-5.74%	+4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	4.36%	-3.51%

Volatility

APMU vs. KMID - Volatility Comparison

The current volatility for ActivePassive Intermediate Municipal Bond ETF (APMU) is 0.79%, while Virtus KAR Mid-Cap ETF (KMID) has a volatility of 5.05%. This indicates that APMU experiences smaller price fluctuations and is considered to be less risky than KMID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APMU	KMID	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	5.05%	-4.26%
Volatility (6M) Calculated over the trailing 6-month period	1.78%	11.71%	-9.93%
Volatility (1Y) Calculated over the trailing 1-year period	2.45%	14.88%	-12.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	16.99%	-14.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.81%	16.99%	-14.18%

APMU vs. KMID - Expense Ratio Comparison

APMU has a 0.36% expense ratio, which is lower than KMID's 0.80% expense ratio.

Dividends

APMU vs. KMID - Dividend Comparison

APMU's dividend yield for the trailing twelve months is around 2.66%, more than KMID's 0.12% yield.

Position	TTM	2025	2024	2023
APMU ActivePassive Intermediate Municipal Bond ETF	2.66%	2.63%	2.42%	1.31%
KMID Virtus KAR Mid-Cap ETF	0.12%	0.06%	0.05%	0.00%

Frequently Asked Questions

Can I hold both APMU and KMID in my portfolio?

APMU and KMID have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APMU or KMID?

KMID has higher volatility (5.05%) compared to APMU (0.79%). In terms of maximum drawdown, APMU dropped -4.39% vs KMID's -18.89%.

Which ETF is better, APMU or KMID?

On 1-year performance, APMU leads with 3.76% vs -0.30% for KMID. On fees, APMU is cheaper at 0.36% per year. On volatility, APMU has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APMU or KMID?

Over the 1-year period, APMU has performed better with a 3.76% return vs -0.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APMU or KMID?

APMU is cheaper with a 0.36% expense ratio, compared with 0.80% for KMID.

Which ETF pays a higher dividend yield, APMU or KMID?

APMU has the higher dividend yield at 2.66%, compared with 0.12% for KMID.

What is the main difference between APMU and KMID?

APMU is categorized as Municipal Bonds, while KMID is Mid Cap Growth Equities. They also come from different issuers: ActivePassive and Virtus. Their fees differ too: 0.36% for APMU and 0.80% for KMID.

Which has better risk-adjusted returns?

APMU currently has the higher Sharpe Ratio (1.54 vs -0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.