IPORenaissance IPO ETF
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 2.85 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 3th 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 Summary Data
IPO Portfolio Data
IPO Index Data
IPO Portfolio Management
IPO Tax Exposures
IPO Fund Structure
IPO Factset Analytics Block Liquidity
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 Sector/Industry Breakdown
IPO Top 10 Holdings[View All]
IPO Economic Development
IPO Performance Statistics
IPO MSCI ESG Ratings
IPO Benchmark Comparison Summary
IPO Benchmark Comparison Market Cap Size