APUE vs. USMV ETF Comparison

Comparison of Trust for Professional Managers ActivePassive U.S. Equity ETF (APUE) to iShares MSCI USA Minimum Volatility ETF (USMV)

APUE

Trust for Professional Managers ActivePassive U.S. Equity ETF

APUE Description

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 CRSP U.S. Total Market 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 U.S. companies included in the benchmark index.

Grade (RS Rating)

Last Trade

$36.75

Average Daily Volume

85,016

Number of Holdings ^*

293

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	APUE	USMV
30 Days	3.74%	1.70%
60 Days	4.87%	2.42%
90 Days	6.08%	4.02%
12 Months	33.10%	25.63%

102 Overlapping Holdings

Symbol	Grade	Weight in APUE	Weight in USMV	Overlap
AAPL	C	5.79%	0.99%	0.99%
ABBV	D	0.6%	1.04%	0.6%
ABT	B	0.25%	0.09%	0.09%
ACGL	D	0.06%	0.68%	0.06%
ACN	C	0.58%	1.29%	0.58%
ADI	D	0.29%	0.23%	0.23%
ADP	B	0.17%	0.09%	0.09%
AEE	A	0.1%	0.24%	0.1%
AEP	D	0.22%	0.39%	0.22%
AMGN	D	0.18%	0.59%	0.18%
AMZN	C	3.5%	0.14%	0.14%
ANET	C	0.24%	0.29%	0.24%
AON	A	0.08%	0.53%	0.08%
APH	A	0.43%	1.44%	0.43%
AVGO	D	1.41%	1.19%	1.19%
BMY	B	0.18%	0.49%	0.18%
BR	A	0.29%	0.05%	0.05%
BRK.A	B	1.84%	1.55%	1.55%
CB	C	0.06%	1.47%	0.06%
CBOE	B	0.17%	0.85%	0.17%
CI	F	0.05%	0.21%	0.05%
CL	D	0.1%	0.41%	0.1%
CMCSA	B	0.27%	0.39%	0.27%
COR	B	0.08%	0.67%	0.08%
CRM	B	0.62%	0.05%	0.05%
CRWD	B	0.13%	0.19%	0.13%
CSCO	B	0.38%	1.47%	0.38%
CTSH	B	0.07%	0.76%	0.07%
CTVA	C	0.06%	0.38%	0.06%
CVS	D	0.05%	0.04%	0.04%
CVX	A	0.31%	0.34%	0.31%
DELL	C	0.05%	0.12%	0.05%
DGX	A	0.13%	0.11%	0.11%
DTE	C	0.02%	0.2%	0.02%
DUK	C	0.4%	1.49%	0.4%
ED	D	0.15%	1.13%	0.15%
EG	C	0.04%	0.43%	0.04%
ELV	F	0.04%	0.52%	0.04%
EOG	A	0.11%	0.17%	0.11%
FI	A	0.33%	0.69%	0.33%
FSLR	F	0.04%	0.06%	0.04%
GD	F	0.06%	0.05%	0.05%
GDDY	A	0.16%	1.0%	0.16%
GEN	B	0.05%	0.35%	0.05%
GILD	C	0.16%	0.94%	0.16%
GIS	D	0.01%	0.66%	0.01%
GOOG	C	1.63%	0.16%	0.16%
GRMN	B	0.15%	0.33%	0.15%
HD	A	0.59%	0.3%	0.3%
HIG	B	0.12%	0.12%	0.12%
HOLX	D	0.12%	0.16%	0.12%
HON	B	0.3%	0.25%	0.25%
IBM	C	0.42%	1.66%	0.42%
ICE	C	0.15%	0.28%	0.15%
JNJ	D	0.89%	1.18%	0.89%
KHC	F	0.07%	0.38%	0.07%
KMB	D	0.13%	0.21%	0.13%
KO	D	0.42%	0.1%	0.1%
KR	B	0.09%	0.61%	0.09%
L	A	0.25%	0.28%	0.25%
LIN	D	0.33%	0.16%	0.16%
LLY	F	1.16%	1.25%	1.16%
LMT	D	0.15%	0.82%	0.15%
MA	C	0.59%	0.7%	0.59%
MCD	D	0.23%	1.25%	0.23%
MCK	B	0.11%	1.35%	0.11%
MDLZ	F	0.28%	0.44%	0.28%
MDT	D	0.33%	0.13%	0.13%
MKL	A	0.07%	0.34%	0.07%
MPC	D	0.13%	0.54%	0.13%
MRK	F	0.35%	1.01%	0.35%
MSFT	F	5.41%	1.34%	1.34%
NEM	D	0.07%	0.46%	0.07%
NOW	A	0.47%	0.75%	0.47%
NTAP	C	0.05%	0.22%	0.05%
NVDA	C	5.97%	0.67%	0.67%
ORCL	B	0.42%	1.31%	0.42%
PEP	F	0.32%	1.01%	0.32%
PFE	D	0.25%	0.2%	0.2%
PG	A	0.99%	1.23%	0.99%
PGR	A	0.26%	1.67%	0.26%
PKG	A	0.07%	0.2%	0.07%
PSX	C	0.05%	0.06%	0.05%
REGN	F	0.18%	0.59%	0.18%
ROP	B	0.17%	1.3%	0.17%
RSG	A	0.05%	1.55%	0.05%
RTX	C	0.21%	0.09%	0.09%
SNPS	B	0.1%	0.18%	0.1%
SO	D	0.22%	1.35%	0.22%
T	A	0.43%	0.74%	0.43%
TJX	A	0.32%	0.45%	0.32%
TMUS	B	0.41%	1.95%	0.41%
TW	A	0.07%	0.2%	0.07%
TXN	C	0.29%	1.39%	0.29%
UBER	D	0.29%	0.45%	0.29%
UNH	C	1.04%	1.34%	1.04%
V	A	0.64%	0.9%	0.64%
VLO	C	0.06%	0.05%	0.05%
VRTX	F	0.21%	0.69%	0.21%
VZ	C	0.38%	1.35%	0.38%
WMT	A	0.93%	1.78%	0.93%
XOM	B	0.99%	0.45%	0.45%

APUE Overweight 191 Positions Relative to USMV

Symbol	Grade	Weight
DFAS	A	4.83%
META	D	2.28%
GOOGL	C	1.98%
TSLA	B	1.68%
JPM	A	1.5%
COST	B	0.81%
NFLX	A	0.74%
WFC	A	0.62%
INTU	C	0.49%
BAC	A	0.49%
QCOM	F	0.48%
ADBE	C	0.47%
GE	D	0.47%
MO	A	0.47%
SPG	B	0.46%
AMD	F	0.45%
DIS	B	0.44%
ISRG	A	0.43%
AER	B	0.42%
AFL	B	0.41%
ETN	A	0.39%
AXP	A	0.39%
AMAT	F	0.39%
DHR	F	0.39%
C	A	0.38%
UNP	C	0.38%
AWI	A	0.38%
SYK	C	0.38%
CHDN	B	0.38%
BK	A	0.37%
MUSA	A	0.37%
WTM	A	0.37%
LOW	D	0.35%
PH	A	0.33%
GS	A	0.32%
ENTG	D	0.31%
DECK	A	0.31%
CTAS	B	0.31%
PCAR	B	0.31%
HCA	F	0.31%
EQR	B	0.3%
COF	B	0.3%
BLK	C	0.3%
ETR	B	0.3%
CAT	B	0.29%
PHM	D	0.29%
TMO	F	0.29%
BSX	B	0.28%
SNA	A	0.27%
POST	C	0.27%
LANC	C	0.27%
GWW	B	0.27%
AXTA	A	0.27%
SHW	A	0.27%
ZBRA	B	0.26%
URI	B	0.26%
SPGI	C	0.26%
WAT	B	0.26%
VICI	C	0.25%
THG	A	0.25%
BX	A	0.25%
LW	C	0.25%
PM	B	0.25%
MAS	D	0.24%
COP	C	0.24%
JKHY	D	0.23%
NEU	C	0.23%
MS	A	0.23%
CACC	D	0.23%
CWST	A	0.22%
GM	B	0.22%
AMT	D	0.22%
QLYS	C	0.22%
DHI	D	0.22%
KKR	A	0.21%
LEN	D	0.2%
DASH	A	0.2%
LRCX	F	0.2%
NEE	D	0.2%
KLAC	D	0.19%
PPL	B	0.19%
TTC	D	0.19%
ESI	A	0.19%
WAB	B	0.18%
FR	C	0.18%
PLD	D	0.18%
FDX	B	0.18%
NI	A	0.18%
TT	A	0.17%
PANW	C	0.17%
CCL	B	0.16%
EVRG	A	0.16%
IRM	D	0.16%
IP	B	0.16%
HWM	A	0.16%
FCX	D	0.16%
TGT	F	0.16%
MU	D	0.16%
PYPL	B	0.15%
ESS	B	0.15%
REYN	D	0.15%
TXT	D	0.15%
TREX	C	0.15%
CARR	D	0.15%
DE	A	0.15%
COIN	C	0.15%
LEN	D	0.15%
WY	D	0.14%
UNF	B	0.14%
DOV	A	0.14%
FOX	A	0.14%
MTN	C	0.14%
AIG	B	0.14%
GEV	B	0.14%
PEG	A	0.14%
FOXA	B	0.13%
EMR	A	0.13%
BALL	D	0.13%
WELL	A	0.13%
ZBH	C	0.13%
BRKR	D	0.13%
FNF	B	0.13%
ECL	D	0.12%
PCG	A	0.12%
CMG	B	0.12%
ABNB	C	0.11%
CEG	D	0.11%
PLTR	B	0.11%
PWR	A	0.11%
CPRT	A	0.11%
SYF	B	0.11%
STLD	B	0.11%
CMI	A	0.11%
CAH	B	0.1%
UPS	C	0.1%
SWKS	F	0.1%
DD	D	0.1%
CNNE	B	0.09%
ZTS	D	0.09%
A	D	0.09%
EFX	F	0.09%
APD	A	0.09%
STT	A	0.09%
CABO	C	0.09%
RCL	A	0.08%
DLR	B	0.08%
DRI	B	0.08%
ALL	A	0.08%
CCI	D	0.08%
AVB	B	0.08%
ROK	B	0.08%
KVUE	A	0.07%
CRBG	B	0.07%
LNG	B	0.07%
CBRE	B	0.07%
ARE	D	0.07%
BEN	C	0.07%
EXR	D	0.07%
DVN	F	0.06%
ROST	C	0.06%
BA	F	0.06%
APO	B	0.06%
NDAQ	A	0.06%
RBLX	C	0.06%
MPWR	F	0.06%
CSGP	D	0.06%
SQ	B	0.06%
DAL	C	0.05%
CVNA	B	0.05%
GPN	B	0.05%
SLB	C	0.05%
IBKR	A	0.05%
IR	B	0.05%
EW	C	0.05%
NWS	B	0.05%
PFG	D	0.04%
NUE	C	0.04%
CTRA	B	0.04%
HUBB	B	0.04%
MNST	C	0.04%
J	F	0.04%
VLTO	D	0.03%
ADM	D	0.03%
CNC	D	0.03%
UAL	A	0.03%
MSTR	C	0.03%
SMCI	F	0.02%
RKT	F	0.02%
DLTR	F	0.02%
WPC	D	0.02%
HST	C	0.0%

APUE Underweight 68 Positions Relative to USMV

Symbol	Grade	Weight
MSI	B	-1.81%
WCN	A	-1.56%
WM	A	-1.44%
NOC	D	-1.43%
AJG	B	-1.27%
TRV	B	-1.15%
MMC	B	-1.11%
AZO	C	-0.98%
EA	A	-0.89%
FCNCA	A	-0.88%
K	A	-0.8%
WEC	A	-0.78%
TSN	B	-0.71%
ORLY	B	-0.68%
VRSN	F	-0.64%
FICO	B	-0.59%
KDP	D	-0.59%
TDY	B	-0.57%
BDX	F	-0.56%
KEYS	A	-0.55%
FANG	D	-0.55%
FFIV	B	-0.55%
INCY	C	-0.53%
CME	A	-0.53%
PTC	A	-0.52%
YUM	B	-0.5%
XEL	A	-0.46%
JNPR	F	-0.45%
WDAY	B	-0.43%
ERIE	D	-0.42%
VRSK	A	-0.42%
CHD	B	-0.4%
HUM	C	-0.4%
BAH	F	-0.39%
AKAM	D	-0.39%
WTW	B	-0.38%
ROL	B	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
CDW	F	-0.35%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WMB	A	-0.31%
WRB	A	-0.31%
GLW	B	-0.31%
FWONK	B	-0.31%
HSY	F	-0.3%
HUBS	A	-0.24%
D	C	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
DPZ	C	-0.19%
CMS	C	-0.19%
CDNS	B	-0.18%
MELI	D	-0.18%
MOH	F	-0.18%
STX	D	-0.16%
UTHR	C	-0.14%
OXY	D	-0.12%
LNT	A	-0.1%
OTIS	C	-0.07%
TEL	B	-0.07%
ATO	A	-0.06%
KNX	B	-0.06%
ULTA	F	-0.04%