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Total (US$ bil)
Monthly breakdown based on IPO pricing date.
The information contained herein is proprietary and copyrighted. The media is welcome to use our information and ideas, provided that the following sourcing is included:
IPO ETF manager Renaissance Capital
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.
As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund’s average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees.
An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
Net Asset Value (NAV)
of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.
is current value at which an asset or service can be bought or sold.
is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The
Renaissance IPO Index® (IPOUSA)
is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios.
The S&P 500® Index (SPX)
is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE. The S&P 500 index components are determined by S&P Dow Jones Indices.
Investments in the
Renaissance IPO ETF, symbol "IPO"
(the “ETF”) and the
Global IPO Fund, symbol "IPOSX"
(the “Mutual Fund”) are subject to investment risk, including possible loss of the principal amounts invested. The ETF and the Mutual Fund (the “Funds”) invest in companies that have recently completed their initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. The Funds may also be subject to information technology risk and small and mid-capitalization company risk due to a greater number of IPOs in these sectors. The Funds may hold securities in the form of Depository Receipts, REITs, Master Limited Partnerships (MLPs) which have greater risks than common shares. The strategy has high portfolio turnover and securities lending risks. ETF returns may not match the return of the respective index. The ETF is classified as a non-diversified investment company and is subject to concentration risk.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with information about the Funds, please visit
. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETF, 1-866-486-6645.
The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the
Renaissance IPO ETF (symbol: IPO)
Global IPO Fund (symbol: IPOSX)
, may have investments in securities of companies mentioned.
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Renaissance Capital LLC is an SEC-registered investment adviser.
Renaissance Capital Investments, Inc. is a
-registered broker-dealer, and member of
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