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ActivePassive Intermediate Municipal Bond ETF APMU
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | APMU | Replication |
|---|---|---|
| Annualized growth | 1.3% | 2.2% |
| Annualized volatility | 3.2% | 3.2% |
| Sharpe ratio | 0.42 | 0.69 |
| Maximum drawdown | 4.6% | 3.5% |
| Replication fit (R²) | 0.92 · Tracking error 0.9% | |
Replication portfolio
The published portfolio below is the investable basket used to model APMU’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 62.3% |
| VGSH | FI · Short Gov | 28.2% |
| STIP | FI · Short TIPS | 9.4% |