CANE vs. APMU
CANE (Teucrium Sugar Fund) and APMU (ActivePassive Intermediate Municipal Bond ETF) are both exchange-traded funds - CANE is a Agricultural Commodities fund tracking the Teucrium Sugar Fund Benchmark, while APMU is a Municipal Bonds fund actively managed by ActivePassive. CANE is passively managed, while APMU is actively managed. Over the past 3 years, CANE returned -10.43%/yr vs 3.03%/yr for APMU. At a correlation of -0.07, they often move in opposite directions. CANE charges 1.88%/yr vs 0.36%/yr for APMU.
Performance
CANE vs. APMU - Performance Comparison
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Returns By Period
In the year-to-date period, CANE achieves a -0.77% return, which is significantly lower than APMU's 0.44% return.
CANE
- 1D
- -1.02%
- 1M
- -5.56%
- YTD
- -0.77%
- 6M
- 0.83%
- 1Y
- -14.28%
- 3Y*
- -10.43%
- 5Y*
- 2.90%
- 10Y*
- -2.23%
APMU
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 0.44%
- 6M
- 0.72%
- 1Y
- 4.28%
- 3Y*
- 3.03%
- 5Y*
- —
- 10Y*
- —
CANE vs. APMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CANE Teucrium Sugar Fund | -0.77% | -14.65% | -7.79% | -6.52% |
APMU ActivePassive Intermediate Municipal Bond ETF | 0.44% | 4.50% | 0.86% | 1.24% |
Correlation
The correlation between CANE and APMU is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since May 4, 2023 | -0.07 |
Over the past year, the inverse relationship between CANE and APMU has strengthened: their correlation has moved from -0.07 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
CANE vs. APMU — Risk / Return Rank
CANE
APMU
CANE vs. APMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Sugar Fund (CANE) and ActivePassive Intermediate Municipal Bond ETF (APMU). 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.
| CANE | APMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.38 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 1.79 | -2.51 |
| Martin ratioReturn relative to average drawdown | -1.18 | 5.30 | -6.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CANE | APMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.69 | 1.81 | -2.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.26 | 0.82 | -1.08 |
Drawdowns
CANE vs. APMU - Drawdown Comparison
The maximum CANE drawdown since its inception was -81.30%, which is greater than APMU's maximum drawdown of -4.39%. Use the drawdown chart below to compare losses from any high point for CANE and APMU.
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Drawdown Indicators
| CANE | APMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.30% | -4.39% | -76.91% |
Max Drawdown (1Y)Largest decline over 1 year | -19.89% | -2.40% | -17.49% |
Max Drawdown (3Y)Largest decline over 3 years | -41.73% | -3.41% | -38.32% |
Max Drawdown (5Y)Largest decline over 5 years | -41.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -67.29% | — | — |
Current DrawdownCurrent decline from peak | -63.21% | -1.17% | -62.04% |
Average DrawdownAverage peak-to-trough decline | -56.50% | -0.93% | -55.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.35% | 0.81% | +11.54% |
Volatility
CANE vs. APMU - Volatility Comparison
Teucrium Sugar Fund (CANE) has a higher volatility of 6.85% compared to ActivePassive Intermediate Municipal Bond ETF (APMU) at 0.75%. This indicates that CANE's price experiences larger fluctuations and is considered to be riskier than APMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CANE | APMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.85% | 0.75% | +6.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.81% | 1.68% | +14.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.69% | 2.37% | +18.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.07% | 2.81% | +18.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.72% | 2.81% | +18.91% |
CANE vs. APMU - Expense Ratio Comparison
CANE has a 1.88% expense ratio, which is higher than APMU's 0.36% expense ratio.
Dividends
CANE vs. APMU - Dividend Comparison
CANE has not paid dividends to shareholders, while APMU's dividend yield for the trailing twelve months is around 2.66%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
APMU ActivePassive Intermediate Municipal Bond ETF | 2.66% | 2.63% | 2.42% | 1.31% |
CANE Teucrium Sugar Fund | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CANE and APMU have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CANE has higher volatility (6.85%) compared to APMU (0.75%). In terms of maximum drawdown, CANE dropped -81.30% vs APMU's -4.39%.
On 3-year performance, APMU leads with 3.03% vs -10.43% for CANE. On fees, APMU is cheaper at 0.36% per year. On volatility, APMU has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, APMU has performed better with a 3.03% return vs -10.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
APMU is cheaper with a 0.36% expense ratio, compared with 1.88% for CANE.
APMU has the higher dividend yield at 2.66%, compared with 0.00% for CANE.
CANE is categorized as Agricultural Commodities, while APMU is Municipal Bonds. They also come from different issuers: Teucrium and ActivePassive. Their fees differ too: 1.88% for CANE and 0.36% for APMU.
APMU currently has the higher Sharpe Ratio (1.81 vs -0.69), 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.
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