APIE – ActivePassive International Equity ETF – ETF Investment Strategy | Morningstar

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Strategy

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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
APIE	ActivePassive International Equity ETF	ETF	Open			May 2, 2023	$1.14B	0.450%	—	—	$101.23M

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