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ActivePassive U.S. Equity ETF
Active ETF
APUE
Payout Change
Pending
Price as of:
$36.54
+0.23
+0.63%
primary theme
N/A
APUE (ETF)
ActivePassive U.S. Equity ETF
Payout Change
Pending
Price as of:
$36.54
+0.23
+0.63%
primary theme
N/A
APUE (ETF)
ActivePassive U.S. Equity ETF
Payout Change
Pending
Price as of:
$36.54
+0.23
+0.63%
primary theme
N/A
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
24.8%
1 yr return
32.1%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$1.47 B
Holdings in Top 10
33.7%
52 WEEK LOW AND HIGH
$36.3
$27.66
$36.87
Expenses
OPERATING FEES
Expense Ratio 0.33%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
APUE - Profile
Distributions
- YTD Total Return 24.8%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameActivePassive U.S. Equity ETF
-
Fund Family NameN/A
-
Inception DateMay 03, 2023
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
The Fund is an actively-managed exchange-traded fund (“ETF”) that blends active and passive investment strategies to optimize costs, tracking and potential return over the Fund’s benchmark index, the CRSP U.S. Total Market Index (the “Benchmark Index”). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies included in the Benchmark Index. The Benchmark Index captures broad U.S. equity market coverage and includes securities traded on NYSE, NYSE American, NYSE ARCA, NASDAQ, Bats Global Markets, and
the Investors Exchange. The sponsor of the Benchmark Index determines the composition of the Benchmark Index and relative weightings of the securities in the Benchmark Index and publishes information regarding the market value of the Benchmark Index. Neither the Fund nor the Adviser is affiliated with the sponsor of the Benchmark Index. The Benchmark Index includes nearly 4,000 constituents across mega, large, small and micro capitalizations, representing nearly 100% of the U.S. investable equity market. To be eligible for Benchmark Index inclusion, a company must have more than $15 million in total market capitalization, the company’s float shares must be greater than 12.5% of the total shares outstanding, the average of the adjusted trading volume over the last 125 days divided by float shares on the ranking date must be at least 0.0008, and the company must satisfy consecutive trading day requirements. The Benchmark Index is weighted according to free-float market capitalization and is recalculated quarterly. The Fund may also utilize a strategic beta strategy for a portion of the Fund’s active investment portfolio. The Adviser will generally rebalance the Fund’s portfolio between the active and passive investment strategies on an annual basis but may rebalance the portfolio more frequently if market conditions warrant or the allocation between active and passive drifts significantly from the target allocation.
Historically Envestnet Asset Management, Inc., the Fund’s investment adviser (the “Adviser”), has found that large cap companies in the U.S. are more researched and attract more scrutiny and research coverage than smaller capitalization companies. The Adviser will generally allocate more to active management for investments in smaller companies and use more passive management for larger companies. The portion of the Fund’s investment portfolio that is actively-managed by the Adviser will range from 15% to 65% of the Fund’s net assets and is expected to shift over time as economic conditions change and the available information about the asset classes in which the Fund invests evolves. The remaining portion of the Fund’s portfolio will be allocated to the passive strategy. The Fund will invest at least 60% of its net assets in equity securities of U.S. companies with large market capitalizations. The Fund’s investment in equity securities may include common stock and preferred stock.
The Adviser will quantitatively manage the passive and strategic beta portion of the Fund’s investment portfolio. Quantitative investing, also known as systematic investing, is an investment approach that uses mathematical modeling, computer systems and data analysis to evaluate a specific universe of potential investments. Quantitative investing uses data to build portfolios that either attempt to track an index or provide exposure to specific investment style factors. The Adviser’s quantitative strategy with respect to the Fund seeks to construct the passive allocation of the portfolio to provide investment results that, before expenses, correspond to the price and performance of the CRSP U.S. Large Cap Index (the “Underlying Index”). The sponsor of the Underlying Index determines the composition of the Underlying Index and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. Neither the Fund nor the Adviser is affiliated with the sponsor of the Underlying Index. The Underlying Index includes mega and large U.S. companies that comprise the top 85% of investable market capitalization and represents the top 85% by market capitalization of the Benchmark Index. The Underlying Index captures broad U.S. equity market coverage and includes securities traded on NYSE, NYSE American, NYSE ARCA, NASDAQ, Bats Global Markets, and the Investors Exchange. The Underlying Index is weighted according to free-float market capitalization and is recalculated quarterly. The Adviser manages the passive allocation utilizing a representative sampling strategy, meaning that the Fund may not purchase all of the securities represented in the Underlying Index, but it will attempt to construct the passive allocation of the Fund to hold a portfolio of securities that, in the aggregate, have risk, return and quality characteristics that resemble the risk, return and quality characteristics of the Underlying Index. As part of the passive allocation, the Fund may invest in passively-managed ETFs in trying to construct the passive allocation to track the Underlying Index.
Strategic beta investing involves screening the Fund’s investment universe for securities with specified characteristics that the Adviser believes offer opportunities for better returns. Strategic beta is a quantitative approach that emphasizes exposure to investment style factors, such as value, momentum and quality, that academic research has linked to higher expected returns. For the strategic beta portion of the Fund’s portfolio, the Adviser will generally invest in large capitalization stocks and ETFs that primarily invest in small capitalization stocks. Investing in ETFs that provide exposure to small capitalization stocks will give the Fund exposure to a distinct asset class from the rest of the Fund’s portfolio with a unique risk profile. Value investing aims to capture excess returns from stocks that have low prices relative to their fundamental value. This is commonly tracked by price to book, price to earnings, dividends, and free cash flow. Momentum investing employs the thesis that stocks that have outperformed in the past tend to exhibit strong returns for a period of time going forward. Quality investing is often captured through exposure to companies having low debt, stable earnings, consistent asset growth, and strong corporate governance. Quality stocks are identified by using common financial metrics like a return to equity, debt to equity and earnings variability. The combined active and passive allocations will have similar characteristics (e.g., average market capitalization) to the Benchmark Index.
The Adviser believes that the Fund’s reward and risk characteristics can be enhanced by employing one or more investment sub-advisers (each, a “Sub-Adviser”), with complementary styles and approaches, who actively manage distinct segments of a market, asset class or investment style for the Fund. The Fund does not currently employ any Sub-Advisers to manage a portion of the Fund’s qualitative active allocation, but it may employ one or more Sub-Advisers in the future.
APUE - Performance
Return Ranking - Trailing
| Period | APUE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.8% | N/A | N/A | N/A |
| 1 Yr | 32.1% | N/A | N/A | N/A |
| 3 Yr | N/A* | N/A | N/A | N/A |
| 5 Yr | N/A* | N/A | N/A | N/A |
| 10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
| Period | APUE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | N/A | N/A | N/A | N/A |
| 2019 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
| Period | APUE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.8% | N/A | N/A | N/A |
| 1 Yr | 32.1% | N/A | N/A | N/A |
| 3 Yr | N/A* | N/A | N/A | N/A |
| 5 Yr | N/A* | N/A | N/A | N/A |
| 10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | APUE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | N/A | N/A | N/A | N/A |
| 2019 | N/A | N/A | N/A | N/A |
APUE - Holdings
Concentration Analysis
| APUE | Category Low | Category High | APUE % Rank | |
|---|---|---|---|---|
| Net Assets | 1.47 B | N/A | N/A | N/A |
| Number of Holdings | 336 | N/A | N/A | N/A |
| Net Assets in Top 10 | 534 M | N/A | N/A | N/A |
| Weighting of Top 10 | 33.67% | N/A | N/A | N/A |
Top 10 Holdings
- Apple Inc 5.97%
- Microsoft Corp 5.64%
- NVIDIA Corp 5.12%
- Dimensional US Small Cap ETF 4.70%
- Amazon.com Inc 3.06%
- Meta Platforms Inc 2.19%
- Berkshire Hathaway Inc 1.97%
- Alphabet Inc 1.93%
- Alphabet Inc 1.58%
- JPMorgan Chase Co 1.51%
Asset Allocation
| Weighting | Return Low | Return High | APUE % Rank | |
|---|---|---|---|---|
| Stocks | 98.78% | N/A | N/A | N/A |
| Cash | 1.22% | N/A | N/A | N/A |
| Preferred Stocks | 0.00% | N/A | N/A | N/A |
| Other | 0.00% | N/A | N/A | N/A |
| Convertible Bonds | 0.00% | N/A | N/A | N/A |
| Bonds | 0.00% | N/A | N/A | N/A |
Stock Sector Breakdown
| Weighting | Return Low | Return High | APUE % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | N/A | N/A | N/A |
| Technology | 0.00% | N/A | N/A | N/A |
| Real Estate | 0.00% | N/A | N/A | N/A |
| Industrials | 0.00% | N/A | N/A | N/A |
| Healthcare | 0.00% | N/A | N/A | N/A |
| Financial Services | 0.00% | N/A | N/A | N/A |
| Energy | 0.00% | N/A | N/A | N/A |
| Communication Services | 0.00% | N/A | N/A | N/A |
| Consumer Defense | 0.00% | N/A | N/A | N/A |
| Consumer Cyclical | 0.00% | N/A | N/A | N/A |
| Basic Materials | 0.00% | N/A | N/A | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | APUE % Rank | |
|---|---|---|---|---|
| US | 98.78% | N/A | N/A | N/A |
| Non US | 0.00% | N/A | N/A | N/A |
APUE - Expenses
Operational Fees
| APUE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.33% | N/A | N/A | N/A |
| Management Fee | 0.30% | N/A | N/A | N/A |
| 12b-1 Fee | N/A | N/A | N/A | N/A |
| Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
| APUE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | N/A | N/A | N/A |
| Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
| APUE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| APUE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | N/A | N/A | N/A |
APUE - Distributions
Dividend Yield Analysis
| APUE | Category Low | Category High | APUE % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | N/A | N/A | N/A |
Dividend Distribution Analysis
| APUE | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual |
Net Income Ratio Analysis
| APUE | Category Low | Category High | APUE % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
| APUE | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency |
