ActivePassive U.S. Equity ETF (APUE) Stock Price, Quote, News & History | Benzinga

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 Funds benchmark index, the CRSP U.S. Total Market Index (the Benchmark Index). Under normal market conditions, the Fund will invest at least 80 percent 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 percent of the U.S. investable equity market. The ratio of the Fund's assets that are allocated to active versus passive investment strategies is determined by Envestnet Asset Management, Inc., the Fund's investment adviser, and is based on a variety of factors, including the Adviser's proprietary research that looks at the likelihood of active managers outperforming or underperforming within the asset classes in which the Fund invests, the Adviser's research and due diligence on available investment sub-advisers within the different asset classes in which the Fund invests and the Adviser's assessment of how different Sub-Advisers will contribute to overall Fund performance. Historically 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 Sub-Adviser and 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.