Renaissance International IPO Index
The Renaissance International IPO Index serves as the index benchmark for the Renaissance International IPO ETF (Ticker: IPOS). The index is
designed to represent the non-US market while avoiding turnover. The index reflects approximately the top 80% of newly public companies in capitalization terms,
is weighted by float capitalization, and imposes a 10% cap on large constituents. Sizable IPOs are added at the end of their fifth trading day and the rest
are added during scheduled quarterly reviews. Companies are removed two years after their initial trade date, when they become seasoned equities.