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US IPO Weekly Winners & Losers

Medline (Nasdaq: MDLN) launched the biggest IPO since 2021. The PE-backed medical supplies giant plans to raise $5 billion to pay down debt. Just two other deals have raised that much in the past 10 years: Rivian (2021) and Uber (2019).

It’s joined on

... read more

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International IPO Weekly Winners & Losers

International IPO Index: International IPO markets ticked up this week, with the Renaissance International IPO Index rising +0.7%, and the ACWX ex-US ETF up +0.3%. Hong Kong-listed assisted-driving chip developer Horizon Robotics was the IPO Index's top ... read more

WLTH

US IPO Weekly Recap: Wealthfront leads 4 IPO week, while United Rentals challenger submits filings

Four IPOs and six SPACs debuted this week. Eight IPOs and four SPACs submitted filings. Digital investing platform Wealthfront (WLTH) priced at the top of the range to raise $485 million at a $2.6 billion market cap. Known as a “robo-advisor,”...read more

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IPO ETF

U.S. IPO Performance

INVEST IN THE IPO ETF
Ticker Company Ticker
Trade
Date
Shares (M) Price Range Deal Size ($M) Underwriters
MDLN Medline MDLN 00/00/00 179.0 $26.00 - $30.00 $5,012 Goldman
Morgan Stanley
ANDG Andersen Group ANDG 00/00/00 11.0 $14.00 - $16.00 $165 Morgan Stanley
UBS

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Ticker Company Ticker Offer Date Deal Size ($M) Current Price Today's Change Return from IPO
WLTH Wealthfront WLTH 12/11/25 $485 $14.19
$0.00
(0.0%)
1.4%
LMRI Lumexa Imaging LMRI 12/10/25 $463 $18.53
$0.00
(0.0%)
0.2%
CDNL Cardinal Infrastructure CDNL 12/09/25 $242 $29.65
$0.00
(0.0%)
41.2%

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The IPO price is the price the underwriters will sell stock to institutional and accredited investors. Learn more at IPO University

Q3 2025 US Market Review

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Pricing Activity

IPO Proceeds Raised

IPO ETF

NEW STOCKS ONLY
(Avg. Age 1.3 Years)

0.1%
overlap*

S&P 500

OLDER STOCKS
(Avg. Age 43 Years)

*By Weight, as of 01/01/2025

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The IPO ETF has almost NO Overlap with the S&P 500

The IPO ETF only contains New Stocks

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