QBF vs. APMU
QBF (Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly) and APMU (ActivePassive Intermediate Municipal Bond ETF) are both exchange-traded funds - QBF is a Blockchain fund actively managed by Innovator, while APMU is a Municipal Bonds fund actively managed by ActivePassive. Both are actively managed. Over the past year, QBF returned -42.28% vs 1.88% for APMU. Their -0.00 correlation means they have often moved in opposite directions in the past. QBF charges 0.79%/yr vs 0.36%/yr for APMU.
Performance
QBF vs. APMU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QBF achieves a -27.43% return, which is significantly lower than APMU's -0.17% return.
QBF
- 1D
- 0.45%
- 1M
- 3.01%
- 6M
- -19.69%
- YTD
- -27.43%
- 1Y
- -42.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.57%
APMU
- 1D
- 0.04%
- 1M
- -1.16%
- 6M
- -1.05%
- YTD
- -0.17%
- 1Y
- 1.88%
- 3Y*
- 2.75%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $481.26K | $1.03M | $774.45K | |
| $61.34K | $84.88K | $133.05K |
QBF vs. APMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | -27.43% | -14.76% |
APMU ActivePassive Intermediate Municipal Bond ETF | -0.17% | 3.58% |
Correlation
The correlation between QBF and APMU is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | -0.00 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QBF vs. APMU — Risk / Return Rank
QBF
APMU
QBF vs. APMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) 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.
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.
| QBF | APMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.47 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.14 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 0.79 | -1.66 |
| Martin ratioReturn relative to average drawdown | -1.39 | 1.95 | -3.33 |
Loading charts...
Drawdowns
QBF vs. APMU - Drawdown Comparison
The maximum QBF drawdown since its inception was -48.71%, which is greater than APMU's maximum drawdown of -4.39%. Use the drawdown chart below to compare losses from any high point for QBF and APMU.
Loading charts...
Drawdown Indicators
| QBF | APMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.71% | -4.39% | -44.32% |
Max Drawdown (1Y)Largest decline over 1 year | -48.71% | -2.40% | -46.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -45.76% | -1.77% | -43.99% |
Average DrawdownAverage peak-to-trough decline | -20.02% | -0.94% | -19.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.54% | 0.97% | +29.57% |
Volatility
QBF vs. APMU - Volatility Comparison
Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) has a higher volatility of 5.79% compared to ActivePassive Intermediate Municipal Bond ETF (APMU) at 0.88%. This indicates that QBF'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.
Loading charts...
Volatility by Period
| QBF | APMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.79% | 0.88% | +4.91% |
Volatility (6M)Calculated over the trailing 6-month period | 19.12% | 1.95% | +17.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.19% | 2.56% | +24.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.64% | 2.81% | +25.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.64% | 2.81% | +25.83% |
QBF vs. APMU - Expense Ratio Comparison
QBF has a 0.79% expense ratio, which is higher than APMU's 0.36% expense ratio.
Dividends
QBF vs. APMU - Dividend Comparison
QBF's dividend yield for the trailing twelve months is around 1.90%, less than APMU's 2.74% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
APMU ActivePassive Intermediate Municipal Bond ETF | 2.74% | 2.63% | 2.42% | 1.31% |
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | 1.90% | 1.38% | 0.00% | 0.00% |
Frequently Asked Questions
QBF and APMU have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QBF has higher volatility (5.79%) compared to APMU (0.88%). In terms of maximum drawdown, QBF dropped -48.71% vs APMU's -4.39%.
On 1-year performance, APMU leads with 1.88% vs -42.28% for QBF. On fees, APMU is cheaper at 0.36% per year. On volatility, APMU has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, APMU has performed better with a 1.88% return vs -42.28%. 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 0.79% for QBF.
APMU has the higher dividend yield at 2.74%, compared with 1.90% for QBF.
QBF is categorized as Blockchain, while APMU is Municipal Bonds. They also come from different issuers: Innovator and ActivePassive. Their fees differ too: 0.79% for QBF and 0.36% for APMU.
APMU currently has the higher Sharpe Ratio (0.74 vs -1.56), 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.
Find the right allocation for QBF and APMU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer