Trust for Professional Managers ActivePassive International Equity ETF (APIE) is an actively managed exchange-traded fund that blends active and passive investment strategies to optimize costs, tracking error, and potential returns relative to the S&P Classic ADR Composite Index, its benchmark; it also incorporates strategic beta approaches for portions of its portfolio based on Envestnet's proprietary methodologies and factor investing research. The Fund invests at least 80% of its net assets in equity securities of non-U.S. companies across varying market capitalizations, including common and preferred stocks of firms domiciled or primarily operating outside the United States, with exposure to both developed and emerging markets; investments may encompass American Depositary Receipts (ADRs) and foreign currency-denominated securities. Launched on May 2, 2023, and headquartered at 615 East Michigan Street, Milwaukee, Wisconsin, the ETF operates within the foreign large blend category and targets long-term capital appreciation for investors seeking international equity exposure. As of early 2025, APIE has attracted significant institutional ownership, with major holders including Envestnet Portfolio Solutions, Inc., Envestnet Asset Management Inc., Atria Wealth Solutions, Inc., LPL Financial LLC, and others collectively managing nearly 30 million shares. The Fund maintains an expense ratio of 0.45% and has demonstrated portfolio growth to approximately $954 million in assets under management, reflecting steady adoption amid a stable operational profile with no reported major acquisitions, partnerships, funding rounds, or strategic shifts in the past 1-2 years.