Renaissance IPO ETF
$51.76−0.60 (−1.15%)
- 0.60%
- $147M
- +5.7%
- 0.12%
- 0M sh
- $53.34
- low $39.31high $60.33
The ETF.net IPO Grade
B
Score 60 out of 100
- 2 of 8
Score 60 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A76 out of 100Rank 2 of 8Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D30 out of 100Rank 8 of 8Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 2 of 8Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D37 out of 100Rank 6 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 4 of 8
Our read on IPO
BThe straight new-issue trade: a rules-based basket of roughly 70 companies that recently went public on a U.S. exchange, running since 2013. Not spin-offs, not a stock picker's list, just the freshman class.
The fund seeks to track the Renaissance IPO Index, which comprises companies that recently completed IPOs and are listed on a U.S. exchange.
Why people hold it
- At 0.60% a year it undercuts the typical fund in its IPO and spin-off cohort, including First Trust's FPXI (0.70%) and Invesco's spin-off ETF CSD (0.67%).
- The mandate is narrow on purpose: track the Renaissance IPO Index, about 70 recent U.S. IPOs, by rule rather than by a manager's conviction picks.
- Trading since 2013, so it has carried this exposure through both crowded IPO windows and quiet ones, and it stands in the upper half of its small peer group.
Worth knowing
- Recent IPOs are young companies with short public track records, and the basket leans toward whatever sectors happen to be going public.
- It trades thinly next to broad index ETFs, so spreads and order size matter more here than in a mega-fund.
- A smaller fund by assets, and payouts are incidental to the strategy: distributions come quarterly.
IPO Holdings
- Stocks
- 55
- 62%
- ALAB
Sectors
- Technology44.6%
- Industrials19.5%
- Health Care13.3%
- Financials5.9%
- Consumer Discretionary5.6%
- Communication5.2%
- Real Estate3.8%
- Energy1.3%
- Utilities0.5%
- Consumer Staples0.2%
Geography
- United States81.10%
- South Korea9.04%
- Bermuda3.66%
- Kazakhstan2.48%
- Finland1.26%
- United Kingdom1.13%
- Italy0.62%
- Germany0.53%
- 0.17%
IPO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
IPO$10,572
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | IPO |
|---|---|
| Year to date | +14.8% |
| 1 month | +0.1% |
| 3 months | −9.0% |
| 1 year | +5.7% |
| 3 years | +18.7% |
| 5 years | −3.7% |
| 10 years | +10.0% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | IPO |
|---|---|---|
| 2026 YTD | +14.8% | |
| 2025 | +5.5% | |
| 2024 | +15.7% | |
| 2023 | +52.5% | |
| 2022 | −57.3% | |
| 2021 | −10.3% | |
| 2020 | +107.9% |
IPO in the news
IPO Dividends
- 0.12%
- $0.06
- $0.03 per share
- Quarterly
Distribution history
IPO Risk
- 27.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.59
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −65.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.64
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
IPO Cost
0.60%
IPO0.60%
- The middle half of IPO & Spin-Off funds
- Median 0.70%
1 of the 8 IPO & Spin-Off funds charge less.
Other funds in IPO & Spin-Off
- AFPXFirst Trust US Equity Opportunities ETFExpense ratio 0.57%1 year return +11.1%
- BCSDInvesco S&P Spin-Off ETFExpense ratio 0.66%1 year return +40.2%
- CFPXIFirst Trust International Equity Opportunities ETFExpense ratio 0.70%1 year return +15.6%
- CFPXEFirst Trust IPOX Europe Equity Opportunities ETFExpense ratio 0.70%1 year return +2.4%
- DSPAQHorizon Kinetics SPAC Active ETFExpense ratio 0.85%1 year return +2.1%