APUE blends active and passive management in a broad stock market universe. Fundamental metrics are slightly better than those of the benchmark, but performance is almost identical. The track record of APUE is too short to assess its strategy, but for now, it looks average compared to competitors charging lower fees.
The active and passive ETF divide has become more and more important in the investing landscape. With ETFs slowly but surely eating away at mutual funds' popularity, save for retirement funds, the cleavage between active and passive strategies has taken on a bigger role.