IPO

Renaissance IPO ETF
*Unless otherwise stated, data provided by FactSet.

IPO Fund Description

IPO tracks a market cap-weighted index of recent US-listed IPOs. The fund acquires issues within 90 days or sooner after IPO and sells after 2 years.

IPO Factset Analytics Insight

IPO offers access to the newest publicly traded stocks in an ETF wrapper. It adds a new company to its basket within 90 days of listing and removes a firm after two years of public trading. The largest new entrants can be included a week after their IPO date. The resulting portfolio complements the overall equity market, as its weighted average market cap will ordinarily be far smaller, and its constituents may not be included in major indexes for a few months. The small number of eligible securities can make for a concentrated portfolio. Index constituents have a 10% issuer cap and are reviewed quarterly. Post-IPO liquidity can be a challenge for market makers looking to create new shares, so keep a sharp eye on trading spreads.

IPO MSCI ESG Analytics Insight

Renaissance IPO ETF has an MSCI ESG Fund Rating of B based on a score of 2.51 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Renaissance IPO ETF ranks in the 4th percentile within its peer group and in the 0th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

IPO MSCI FaCS and Factor Box

MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.

IPO Charts And Performance

Price Chart ($)
Total Return Chart (%)
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Select ETFs to compare their performance:
PERFORMANCE [as of 09/24/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
IPO 11.60% 21.33% 63.17% 71.28% 24.61% 20.32% --
IPO (NAV) 10.10% 21.67% 59.01% 72.44% 23.53% 19.82% --
Renaissance IPO Index -- -- -- -- -- -- --
MSCI USA IMI -5.22% 7.25% 1.77% 11.33% 10.70% 12.72% 13.11%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IPO Summary Data

Renaissance
10/14/13
Open-Ended Fund
0.60%
$204.66M
$6.90M
0.34%

IPO Portfolio Data

$24.00B
-32.24
10.87
0.26%
12/18/20
48

IPO Index Data

Renaissance IPO Index
Market Cap
Time Since Listing
MSCI USA IMI

IPO Portfolio Management

0.60%
0.51%
1.23%
-0.61%

IPO Tax Exposures

20.00% / 39.60%
--
Qualified dividends
No

IPO Fund Structure

Open-Ended Fund
No
Yes
No Policy
N/A
N/A
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

IPO Factset Analytics Block Liquidity

As of 09/25/20
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of IPO. IPO is rated a 5 out of 5.

IPO Tradability

144,271
$6.90M
98,856
$4.57M
0.34%
$0.16
-0.04%
0.52% / -1.27%
None
0.00%
50,000
1.98
0.00%
0.07%
1,572
$49.40
5

IPO Sector/Industry Breakdown


IPO
Segment Benchmark
59.49%
32.86%
22.79%
14.51%
9.45%
14.27%
3.66%
6.22%
3.05%
13.22%
1.03%
9.22%
0.53%
2.63%

IPO Countries


IPO
Segment Benchmark
84.63%
99.91%
14.34%
--
1.03%
0.09%

IPO Regions


IPO
Segment Benchmark
85.66%
100.00%
14.34%
--

IPO Economic Development


IPO
Segment Benchmark
85.66%
100.00%
14.34%
--

IPO Performance Statistics

0.66
0.88
0.70
0.96
1.36%
MSCI USA IMI

IPO MSCI ESG Ratings

2.51 / 10
0.21
4.23
--
4.92%
18.50

IPO Benchmark Comparison Holdings

48
2320
22
0.59%

IPO Benchmark Comparison Summary


IPO
Segment Benchmark
48
2320
$24.00B
$372.99B
-32.24
37.38
10.87
3.57
0.01%
1.74%
High
Low

IPO Benchmark Comparison Market Cap Size


IPO
Segment Benchmark
59.63%
85.12%
38.85%
11.21%
1.53%
3.29%
0.00%
0.39%