ETF Evaluator:
ActivePassive Core Bond ETF ()
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(as of Aug 26)
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 8.9% | Infrastructure Capital Bond Income ETF (BNDS) |
| 5.2% | Monarch Ambassador Income ETF (MAMB) |
| 4.1% | SanJac Alpha Core Plus Bond ETF (SJCP) |
| 4.1% | F/m Opportunistic Income ETF (ZHOG) |
| 3.9% | PIMCO Active Bond ETF (BOND) |
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Risk
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ETF Details
ActivePassive Core Bond ETF Overview
ActivePassive Core Bond ETF (APCB) is an actively managed Taxable Bond Intermediate Core-Plus Bond exchange-traded fund (ETF). Active Passive Funds launched the ETF in 2023.
The investment seeks current income consistent with low volatility of principal.
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 Bloomberg U.S. Aggregate Bond Index (the “underlying index”). Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds and other fixed incomesecurities that are rated investment grade or better and up to 20% of its net assets in high yield debt securities,also known as “junk bonds.
About ActivePassive Core Bond ETF (APCB)
There are 10 members of the management team with an average tenure of 3.25 years: Robert Smith (2023), Brandon Thomas (2023), Thanos Bardas (2023), David Brown (2023), Janis Zvingelis (2023), Nathan Kush (2023), Olumide Owolabi (2023), Timothy Murphy (2023), Thomas Urano (2023) and Gregory Classen (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
ActivePassive Core Bond ETF has 1876 securities in its portfolio. The top 10 holdings constitute 32.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ActivePassive Core Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. ActivePassive Core Bond ETF has 17.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.2% (79.8% domestic bond, 17.4% foreign bond and 0.0% convertible bond). ActivePassive Core Bond ETF has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
APCB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ActivePassive Core Bond ETF expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. ActivePassive Core Bond ETF has an expense ratio of 0.36%, which is 18% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ActivePassive Core Bond ETF has a portfolio turnover rate of 47%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, ActivePassive Core Bond ETF returned -1.2%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ActivePassive Core Bond ETF has a trailing yield of 4.22%, which is below the 4.67% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ActivePassive Core Bond ETF Grades
Year to date, the ETF has returned -0.4%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 2.6% over the past year (grade of F) and 3.8% over the past three years (grade of F).
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APCB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| APCB Return (NAV) | -1.2% | -0.6% | 2.6% | 3.8% | na | na |
| APCB Return (Price) | -1.3% | -0.7% | 2.6% | 3.9% | na | na |
| NAV +/- Price Return | 0.040% | 0.106% | -0.031% | -0.005% | na | na |
| Intermediate Core-Plus Bond Avg | -1.2% | -0.6% | 3.2% | 4.6% | 0.4% | 2.1% |
| APCB Grade (NAV) | B | C | F | F | na | na |
| +/- Category (NAV) | -0.0% | -0.0% | -0.6% | -0.8% | na | na |
| APCB Tax-Cost Ratio | na | na | 1.7% | 1.8% | na | na |
APCB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| APCB Return (NAV) | -0.4% | 6.7% | 2.0% | na | na | na | na | na | na | na | na |
| APCB Return (Price) | -0.5% | 6.9% | 1.8% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.141% | 0.019% | -0.102% | na | na | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.2% | 7.5% | 3.0% | 6.6% | -13.2% | -0.7% | 8.0% | 9.8% | -0.2% | 4.3% | 4.9% |
| APCB Grade (NAV) | C | F | D | na | na | na | na | na | na | na | na |
| +/- Category | -0.2% | -0.7% | -1.0% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.89 |
| R-Squared: | 100% |
| Standard Deviation: | 5.1% |
| Category Risk Index: | 0.90 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.41 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.2% |
| Total Assets: | $ 1,005 Mil |
| Share Class Assets: | $ 1,005 Mil |
| Turnover: | 47.0% |
| Expense Ratio: | 0.36% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 10 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Smith Robert (2023), Thomas Brandon (2023), Bardas Thanos (2023), Brown David (2023), Zvingelis Janis (2023), Kush Nathan (2023), Owolabi Olumide (2023), Murphy Timothy (2023), Urano Thomas (2023), Classen Gregory (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1876 |
| % in Top 10 Holdings: | 32.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 79.8% |
| Foreign Bond: | 17.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.6% |
| Cash: | 2.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Active Passive Funds |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | May 2, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.36% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.44% |
