APIE
ActivePassive International Equity ETF
APIE is an actively managed fund that utilizes a core and explore investment strategy in pursuing international equity exposure. The strategy blends passive and active approach to optimize cost, tracking and potential return over its benchmark index.
International
EQUITY
Active
MANAGEMENT STYLE
790.7 M
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Fund sponsor | Envestnet |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | May 03, 2023 |
| Assets (mns) | $791 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR-SP ADR | 6.0 % |
| SONY CORP-SPONSORED ADR | 2.9 % |
| TENCENT HOLDINGS LTD-UNS ADR | 2.2 % |
| SAP AG-SPONSORED ADR | 2.0 % |
| RELX PLC SPONSORED ADR | 1.5 % |
| NOVO-NORDISK A/S-SPONS ADR | 1.4 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 1.4 % |
| ASTRAZENECA PLC-SPONS ADR | 1.3 % |
| ROCHE HOLDINGS LTD-SPONS ADR | 1.3 % |
| UNILEVER PLC-SPONSORED ADR | 1.3 % |
Constituent Breakdown
| Number of holdings | 319 |
| Herfindahl-Hirschman Index | 106 |
| Wgt avg mkt cap (mns) | $131,947 |
| Large cap (>$10bn) | 89.8% |
| Mid cap ($2-10bn) | 4.2% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 77.1% |
| Emerging mkts. | 22.9% |
Country Exposure
 |
BRITAIN | 14.6 % |
 |
JAPAN | 11.6 % |
 |
FRANCE | 7.5 % |
 |
CHINA | 6.7 % |
 |
TAIWAN | 6.3 % |
 |
SWITZERLAND | 6.2 % |
 |
GERMANY | 4.9 % |
 |
NETHERLANDS | 3.6 % |
 |
SPAIN | 2.8 % |
 |
HONG KONG | 2.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.8% | 11.3% | -- | -- | -- | -- | 7.8% | Volatility | 14.5% | 15.1% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 70% |
| MSCI EAFE | 0.90 | 98% |
| MSCI Emg Mkts | 0.82 | 79% |
Liquidity Measures
| Avg. volume (000) | 62 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.75% |
| ADV of underlying (mns) | $15,613 |
Technical Indicators
| Recent close | $28.65 |
| 30d moving avg. | $29.21 |
| Annualized volatility | 13.1% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. APIE |
Expenses vs. APIE |
ALTAR Score™ vs. APIE |
|---|---|---|---|---|
| AVDE | Avantis International Equity ETF | 14.3% | -22 bp | +0.2% |
| AVSD | Avantis Responsible International Equity ETF | 13.0% | -22 bp | -1.0% |
| GINX | SGI Enhanced Global Income ETF | 12.6% | +53 bp | -1.4% |
| AVIV | Avantis International Large Cap Value ETF | 12.3% | -20 bp | +1.1% |
| AVEM | Avantis Emerging Markets Equity ETF | 12.2% | -12 bp | +1.0% |
| DIVD | Altrius Global Dividend ETF Altrius Global Divid ETF | 11.6% | +4 bp | +2.9% |
| PID | Invesco International Dividend Achievers ETF | 11.2% | +8 bp | -0.9% |
| LEGR | First Trust Indxx Innovative Transaction & Process ETF | 10.9% | +20 bp | -0.1% |
| AADR | AdvisorShares Dorsey Wright ADR ETF | 10.8% | +65 bp | -2.6% |
Risk and Returns: APIE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/18/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
APIE
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
APIE
8.2%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.7%. APIE's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places APIE in the 60th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
APIESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| APIE (45 bp) Percentile rank | 31 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| APIE | 45.0 | 74.6 | 119.6 |
| Peer Avg. | 42.8 | 45.3 | 88.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .