IPO
Renaissance IPO ETF
Renaissance IPO ETF is an exchange-traded fund incorporated in the USA. The ETF provides investors with efficient exposure to a portfolio of newly public companies prior to their inclusion in core U.S. equity portfolios. The ETF tracks the rules-based Renaissance IPO Index designed by leading IPO research firm Renaissance Capital.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 134.6 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Inception date | Oct 16, 2013 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ASTERA LABS INC | 12.1 % |
| SPACE EXPLORATION TECHNOLOGIES | 9.7 % |
| SK HYNIX INC-ADR | 9.6 % |
| COREWEAVE INC-CL A | 6.9 % |
| REDDIT INC-CL A | 5.2 % |
| RUBRIK INC-A | 4.6 % |
| MEDLINE INC-CL A | 4.1 % |
| CIRCLE INTERNET GROUP INC | 3.9 % |
| VIKING HOLDINGS LTD | 3.6 % |
| KASPI.KZ JSC SPONSORED GDR REGS | 2.7 % |
Constituent Breakdown
| Number of holdings | 55 |
| Herfindahl-Hirschman Index | 741 |
| Wgt avg mkt cap (mns) | $16,461 |
| Large cap (>$10bn) | 70.7% |
| Mid cap ($2-10bn) | 9.6% |
| Small cap (<$2bn) | 0.3% |
| Developed mkts. | 80.6% |
| Emerging mkts. | 2.1% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 73.0 % |
 |
SOUTH KOREA | 9.6 % |
 |
KAZAKHSTAN | 2.7 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 15.3% | 6.2% | 10.8% | 18.1% | -3.9% | 9.5% | -- | 7.6% |
| Dividend Yield | 0.1% | 0.1% | 0.5% | 0.4% | 0.2% | 0.3% | -- | 0.5% |
| Total Returns | 15.4% | 6.3% | 11.2% | 18.4% | -3.8% | 9.8% | -- | 8.1% | Ann. Volatility | 33.4% | 32.5% | 31.7% | 30.1% | 36.4% | 32.0% | -- | 29.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.93 | 59% |
| MSCI EAFE | 1.23 | 36% |
| MSCI Emg Mkts | 0.91 | 51% |
Liquidity Measures
| Avg. volume (000) | 13 |
| ADV traded (mns) | $1 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| 30d moving avg. (EMA) | $54.69 |
| Relative strength (RSI) | 55 |
| MACD/Signal | 0.46/-0.09 |
| Bollinger Bands (Upper/Lower) | $57.77/$49.80 |
| Short interest (% of AUM) | 4.1% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IPO |
Expenses vs. IPO |
ALTAR Score™ vs. IPO |
|---|---|---|---|---|
| SPRX | Spear Alpha ETF | 16.2% | +15 bp | +3.2% |
| ARKW | ARK Next Generation Internet ETF | 15.8% | +27 bp | +2.5% |
| ARKK | ARK Innovation ETF | 14.9% | +15 bp | +2.1% |
| GFLW | VictoryShares Free Cash Flow Growth ETF | 14.1% | -21 bp | +7.8% |
| ADDS | Hedgeye Index Adds ETF | 10.8% | +10 bp | +4.4% |
| XSPC | VegaShares SpaceX & Beyond Earth ETF | 10.3% | +15 bp | +2.4% |
Risk and Returns: IPO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/17/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
-3.3%
ALTAR SCORE™
1st
PERCENTILE
AVOID
ETFRC RATING
There are 1,394 funds in the US Equity category with an average
ALTAR Score™ of 5.5% and a standard deviation
of 2.1%. IPO's ALTAR Score™ is approximately -4.1 standard
deviations above the category average. This places IPO in the 1st percentile
among funds in the category.
Sell-Side Consensus
$61.2
PRICE TARGET
+25.1%
UPSIDE