ETF Evaluator:
ActivePassive International Equity ETF ()
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(as of Aug 26)
Best Performing in Foreign Large Blend Over the Last Year
| 53.2% | Pacer Nasdaq International Ptnt Ldrs ETF (PATN) |
| 37.0% | Touchstone Dynamic International ETF (TDI) |
| 36.8% | Harbor International Equity ETF (EPIN) |
| 34.8% | First Eagle Overseas Equity ETF (FEOE) |
| 33.8% | Lazard International Dynamic Equity ETF (IDEQ) |
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ETF Details
ActivePassive International Equity ETF Overview
ActivePassive International Equity ETF (APIE) is an actively managed International Equity Foreign Large Blend exchange-traded fund (ETF). Active Passive Funds launched the ETF in 2023.
The investment seeks to provide long-term capital appreciation.
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 S&P Classic ADR Composite 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 non-U.S. companies with varying market capitalizations.
About ActivePassive International Equity ETF (APIE)
There are 15 members of the management team with an average tenure of 2.98 years: Jonathan Eng (2023), Louis Florentin-Lee (2024), Brandon Thomas (2023), Barnaby Wilson (2024), Conor Muldoon (2023), Alessandro Valentini (2023), Janis Zvingelis (2023), Brian Cho (2023), Ellen Lee (2023), Steven Nguyen (2023), Timothy Murphy (2023), Robert Failla (2024), Gregory Classen (2023), Harry Hartford (2023) and Sarah Ketterer (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Global BMI TR USD index with a weighting of 100% and S&P Classic ADR Composite TR USD index with a weighting of 100%. ActivePassive International Equity ETF has 549 securities in its portfolio. The top 10 holdings constitute 23.4% 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 International Equity ETF is part of the Equity global asset class and is within the International Equity ETF group. ActivePassive International Equity ETF has 97.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.0% There is 97.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ActivePassive International Equity ETF has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $9 billion average for the Foreign Large Blend 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.
APIE 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 International Equity ETF expense ratio is average compared to funds in the Foreign Large Blend category. ActivePassive International Equity ETF has an expense ratio of 0.45%, which is 14% higher than its category average, making the fund expense ratio grade a D. 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 International Equity ETF has a portfolio turnover rate of 33%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the Foreign Large Blend category.
Recently, in the month of July 2026, ActivePassive International Equity ETF returned 0.8%, which earned it a grade of C, as the Foreign Large Blend category had an average return of 1.1%. 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 International Equity ETF has a trailing yield of 3.38%, which is above the 2.56% category average.
The fund normally distributes its income annually 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 International Equity ETF Grades
Year to date, the ETF has returned 9.7%, 2.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 23.4% over the past year (grade of D) and 16.4% over the past three years (grade of C).
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APIE 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 |
|
| APIE Return (NAV) | 0.8% | 3.7% | 23.4% | 16.4% | na | na |
| APIE Return (Price) | 0.8% | 3.9% | 23.7% | 16.5% | na | na |
| NAV +/- Price Return | -0.040% | -0.172% | -0.347% | -0.100% | na | na |
| Foreign Large Blend Avg | 1.1% | 4.4% | 25.0% | 16.4% | 9.2% | 9.3% |
| APIE Grade (NAV) | C | D | D | C | na | na |
| +/- Category (NAV) | -0.4% | -0.7% | -1.7% | 0.1% | na | na |
| APIE Tax-Cost Ratio | na | na | 1.5% | 0.9% | na | na |
APIE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| APIE Return (NAV) | 9.7% | 31.3% | 8.1% | na | na | na | na | na | na | na | na |
| APIE Return (Price) | 10.0% | 31.4% | 7.4% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.036% | 0.005% | -0.094% | na | na | na | na | na | na | na | na |
| Foreign Large Blend Avg | 12.1% | 31.2% | 5.2% | 16.9% | -14.7% | 10.3% | 8.8% | 22.0% | -13.2% | 24.6% | 1.9% |
| APIE Grade (NAV) | F | C | A | na | na | na | na | na | na | na | na |
| +/- Category | -2.4% | 0.1% | 2.9% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.82 |
| R-Squared: | 91% |
| Standard Deviation: | 11.9% |
| Category Risk Index: | 0.91 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.97 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.4% |
| Total Assets: | $ 1,138 Mil |
| Share Class Assets: | $ 1,138 Mil |
| Turnover: | 33.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | No |
| Index Tracked: | S&P Global BMI TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 15 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 3.0 years | |||
| Managers (Year): Muldoon Conor (2023), Valentini Alessandro (2023), Zvingelis Janis (2023), Cho Brian (2023), Lee Ellen (2023), Nguyen Steven (2023), Murphy Timothy (2023), Eng Jonathan (2023), Thomas Brandon (2023), Classen Gregory (2023), Hartford Harry (2023), Ketterer Sarah (2023), Wilson Barnaby (2024), Florentin-Lee Louis (2024), Failla Robert (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 549 |
| % in Top 10 Holdings: | 23.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 97.1% |
Portfolio Allocation |
|
| Domestic Stock: | 2.0% |
| Foreign Stock: | 97.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 0.7% |
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 (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.40% |
