IPOS
Renaissance International IPO ETF
The Renaissance International IPO ETF tracks a cap-weighted index of recent IPOs listed internationally. The fund adds an IPO within 90 days of its initial listing.
Fund Basics
| Fund sponsor | Renaissance Capital |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 06, 2014 |
| Assets (mns) | $6 |
| Expense ratio | 80 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Time Since Listing |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| WISE PLC CLASS A | 9.6 % |
| PORSCHE AG | 8.8 % |
| KUAISHOU TECHNOLOGY CLASS B | 7.6 % |
| SOCIONEXT INC. | 4.9 % |
| PT GOTO GOJEK TOKOPEDIA TBK | 3.6 % |
| INPOST S.A. | 3.5 % |
| DEFINITY FINANCIAL CORP. | 2.7 % |
| ALLFUNDS GROUP PLC | 2.6 % |
| VOLVO CAR AB CLASS B | 2.4 % |
| DARKTRACE PLC | 2.0 % |
Constituent Breakdown
| Number of holdings | 53 |
| Herfindahl-Hirschman Index | 322 |
| Wgt avg mkt cap (mns) | $5,041 |
| Large cap (>$10bn) | 32.1% |
| Mid cap ($2-10bn) | 44.2% |
| Small cap (<$2bn) | 9.0% |
| Developed mkts. | 72.5% |
| Emerging mkts. | 27.5% |
Country Exposure
 |
BRITAIN | 16.0 % |
 |
CHINA | 10.0 % |
 |
JAPAN | 4.9 % |
 |
INDONESIA | 3.6 % |
 |
NORWAY | 3.2 % |
 |
CANADA | 2.7 % |
 |
SWEDEN | 2.4 % |
 |
NETHERLANDS | 1.8 % |
 |
THAILAND | 1.5 % |
 |
PHILIPPINES | 1.4 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -3.9% | -17.4% | -16.8% | -26.9% | -8.0% | -- | -2.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.74 | 23% |
| MSCI EAFE | 1.12 | 49% |
| MSCI Emg Mkts | 1.39 | 80% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.52% |
| ADV of underlying (mns) | $401 |
Technical Indicators
| Recent close | $14.42 |
| 30d moving avg. | $13.78 |
| Annualized volatility | 27.4% |
| Relative strength (RSI) | 58 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IPOS |
Expenses vs. IPOS |
ALTAR Score™ vs. IPOS |
|---|---|---|---|---|
| FPXE | First Trust IPOX Europe Equity Opportunities ETF | 10.1% | -10 bp | +163.6% |
Risk and Returns: IPOS 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 5/8/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
IPOS
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
IPOS
-159.2%
Cat. Avg
7.0%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -159.2% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 257 funds in the International Equities category, with an average ALTAR Score™
of 7.0% and a standard deviation of
2.5%. IPOS's ALTAR Score™ is approximately
67.8 standard deviations
below
the category average. This places IPOS in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IPOS
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IPOS | 80.0 | 52.0 | 132 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .