APMU vs VYM
APMU vs VYM
ActivePassive Intermediate Municipal Bond ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | APMU | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.04% | |
| AUM | $244M | $79.0B | |
| Dividend Yield | 2.66% | 2.86% | |
| Holdings | 710 | 568 | |
| YTD Return | -0.19% | +15.80% | |
| 1Y Return | +1.70% | +26.12% | |
| 3Y Return (annualized) | +2.65% | +18.25% | |
| 5Y Return (annualized) | - | +12.51% | |
| Volatility (annualized) | 3.5% | 14.6% | |
| Max Drawdown | -4.4% | -58.8% | |
| Fund Family | Envestnet Asset Management | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | May 3, 2023 | Nov 10, 2006 |
APMU vs VYM Performance
ActivePassive Intermediate Municipal Bond ETF (APMU) is a ETF from Envestnet Asset Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year APMU returned +1.70% while VYM returned +26.12%. Year to date, APMU is down 0.19% versus a gain of 15.80% for VYM.
Over three years, APMU compounded at +2.65% per year against +18.25% for VYM. Across the full 3-year window we track, VYM has the edge at +7.07% annualized vs +1.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 3.5% for APMU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -4.4% for APMU and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
APMU charges 0.35% per year while VYM charges 0.04%. On a $10,000 position that is $35 vs $4 annually, a gap of $31 per year that compounds over a long holding period. On income, APMU currently yields 2.66% against 2.86% for VYM.
Holdings Overlap
APMU and VYM share 0 holdings out of 887 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, APMU or VYM?
APMU has an expense ratio of 0.35% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, APMU or VYM?
Over the past year APMU returned +1.70% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (3 years), APMU annualized +1.84% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, APMU or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 3.5% for APMU. Worst drawdown: APMU -4.4% vs VYM -58.8%.
Should I hold both APMU and VYM?
APMU and VYM have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between APMU and VYM?
APMU and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 887 unique securities.
Which pays a higher dividend, APMU or VYM?
APMU yields 2.66% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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