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IPO vs SPCK

Renaissance IPO ETF

IPOBNYSE Arca

SPAC and New Issue ETF

SPCKDNasdaq

Overlap

Expense ratio

IPO −1.71pt a year

IPO0.60%SPCK2.31%

Avg volume · 30D

IPO 3.2×the volume

IPO20.7KSPCK6.51K

5Y return · a year

SPCK +5.2pt

IPO−7.0%SPCK−1.8%

IPO vs SPCK Performance

Oct 29, 2021 – Oct 30, 2026

−30.3%IPO−8.8%SPCK

Oct 29, 2021 to Oct 30, 2026. IPO −30.3%. SPCK −8.8%. Use the arrow keys to read each point.−60%−50%−40%−20%0%Oct 2021Apr 2024Oct 2026
Expense ratio
IPO 0.60%, better
SPCK 2.31%
Fund size
IPO $139M
SPCK $8M
1Y total return
IPO −3.1%
SPCK −2.6%, better
Yield (12M)
IPO 0.13%
SPCK 16.61%, better
Holdings
IPO 55
SPCK 46
Avg volume (30D)
IPO 20.7K sh, better
SPCK 6.51K sh
NAV per share
IPO $47.32
SPCK $21.53
52W range

ETF.net Grade

IPO: Cost 76, Risk 28, Mission not scored, Tradability 68, Holdings 41, Durability 61. SPCK: Cost 7, Risk 55, Mission not scored, Tradability 48, Holdings 65, Durability 36.
Pillar letters and Scores for IPO, SPCK, with each pillar’s weight
PillarIPOSPCK
Cost30% weightA76HigherF7
Mission25% weightNot scoredNot scored
Risk15% weightD28B55Higher
Tradability15% weightB68HigherC48
Holdings10% weightC41B65Higher
Durability5% weightB61HigherD36

Rank among IPO & Spin-Off funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IPO and SPCK are both graded against the same 8 IPO & Spin-Off funds, so their Grades compare head to head.

IPO & Spin-Off⁠

Category · 8 funds
See all 8 ›

IPO ranks 3rd and SPCK 7th of 8 funds in the IPO & Spin-Off Category.

  1. Rank 1AFPXFirst Trust US Equity Opportunities ETFScore 78
  2. Rank 2BCSDInvesco S&P Spin-Off ETFScore 61
  3. Rank 3BIPORenaissance IPO ETFScore 59
  4. Rank 4CFPXIFirst Trust International Equity Opportunities ETFScore 53
  5. Rank 6DSPAQHorizon Kinetics SPAC Active ETFScore 36
  6. Rank 7DSPCKSPAC and New Issue ETFScore 34
  7. Rank 8DIPOSRenaissance International IPO ETFScore 28

Our read on each fund

ETF.net Research

IPOBRenaissance IPO ETF

SPCKDSPAC and New Issue ETF

In short

IPO The 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.

SPCK The active one in a passive corner: SPCK's manager hand-picks pre-deal SPACs and companies that listed in the past two years. Trading since December 2020, at 2.31% a year with no waiver, above its index peers.

Stated mandate

IPO The fund seeks to track the Renaissance IPO Index, which comprises companies that recently completed IPOs and are listed on a U.S. exchange.

SPCK The Fund seeks total return. It is actively managed and invests at least 80% of assets in qualifying SPACs and companies that completed an IPO within the prior two years; it may also use swaps and hold cash or short-term debt for liquidity.

Why people hold it

  • IPO 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.
  • SPCK Actively managed: a person picks which SPACs and recent IPOs to own and how big each gets, while peers FPX, IPO and CSD follow fixed index rules.
  • One ticker covers both halves of the new-issue market: qualifying SPACs plus companies that listed within the prior two years, around 50 names.
  • Trading since December 2020, so there is a multi-year live record to look at rather than a backtest.

Worth knowing

  • IPO 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.
  • SPCK Cost is the trade-off: 2.31% a year, no waiver, next to FPX at 0.57%, IPO at 0.60% and CSD at 0.65% net of a waiver through August 31, 2028.
  • The holdings are unseasoned by definition, pre-deal SPACs and brand-new listings, and the fund itself is small and thinly traded.
  • Same fund, new symbol: the ticker moved from SPCX to SPCK on April 7, 2026, with no change to objective or strategy.sec.gov

Full IPO profile⁠

Full SPCK profile⁠

IPO vs SPCK Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IPO vs SPCK Cost

Overpaying SPCK vs IPO

$24,755

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IPO 0.60%

    $11,817

  • SPCK 2.31%

    $36,572

$10,000
30 years

Cost over time

  • IPO 0.60%
  • SPCK 2.31%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530SPCK $36,572IPO $11,817

Year by year

YearIPOSPCKOverpaying
10$1,076$3,857$2,781
20$4,116$13,687$9,571
30$11,817$36,572$24,755

Expense ratio

  • 0.60%IPO, cheaper
  • 2.31%SPCK
  • Middle half of IPO & Spin-Off funds
  • Median 0.70%

IPO 2nd cheapest of 8 funds

SPCK 8th cheapest of 8 funds

IPO vs SPCK Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IPO 0.13%
SPCK 16.61%, better
Payout (12M)
IPO $0.06
SPCK $3.59
Last payment
IPO $0.03
SPCK $0.49
Ex-dividend
IPO Jun 12, 2026
SPCK Dec 24, 2025
Paid on
IPO Jun 22, 2026
SPCK Dec 26, 2025
Frequency
IPO Quarterly
SPCK Irregular

Distribution history

Per share, 2017 to 2026, same scale for both

IPOQuarterly · 18 paymentsAll IPO payments⁠
One bar per payment. 18 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.02; Jun 16, 2017 $0.09; Sep 15, 2017 $0.02; Mar 16, 2018 $0.03; Jun 15, 2018 $0.07; Sep 14, 2018 $0.02; Mar 15, 2019 $0.06; Jun 14, 2019 $0.02; Dec 13, 2019 $0.06; Mar 20, 2020 $0.07; Jun 14, 2024 $0.0077; Sep 13, 2024 $0.0088; Dec 13, 2024 $0.03; Mar 14, 2025 $0.07; Jun 13, 2025 $0.05; Sep 12, 2025 $0.18; Mar 13, 2026 $0.03; Jun 12, 2026 $0.03. Use the arrow keys to read each point.$0$2.502017202020232026YTD
SPCKIrregular · 6 paymentsAll SPCK payments⁠
One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 27, 2021 $0.36; Dec 19, 2023 $0.52; Dec 17, 2024 $0.14; Dec 27, 2024 $0.02; Dec 16, 2025 $3.11; Dec 24, 2025 $0.49. Use the arrow keys to read each point.$0$2.502017202020232026YTD

IPO vs SPCK Risk

Fall from peak · 5 years

  • IPO
  • SPCK
Oct 29, 2021 to Oct 30, 2026. Worst fall: IPO −65.6% · Dec 2022. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
IPO 27.8%SPCK 5.9%, better
Return per unit of riskSharpe ratio, 3 years
IPO 0.55, betterSPCK −0.16
Worst fallMax drawdown, 5 years
IPO −65.6%SPCK −19.9%, better
Market sensitivityBeta, 5 years
IPO 1.64SPCK 0.11

IPO and SPCK in the news

All news⁠

Popular comparisons

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    Renaissance IPO ETF · First Trust US Equity Opportunities ETF

    Expense ratio
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  • IPOBvsFPXIC

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