IPO vs. BOUT ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Innovator IBD Breakout Opportunities ETF (BOUT)

IPO

Renaissance IPO ETF

IPO Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$37.46

Average Daily Volume

57,239

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$33.60

Average Daily Volume

2,129

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	BOUT
30 Days	-9.50%	-7.11%
60 Days	0.43%	-3.52%
90 Days	8.11%	1.80%
12 Months	37.42%	12.27%

3 Overlapping Holdings

Symbol	Grade	Weight in IPO	Weight in BOUT	Overlap
DUOL	B	2.18%	2.7%	2.18%
PCOR	D	2.17%	2.63%	2.17%
RYAN	D	1.85%	0.32%	0.32%

IPO Overweight 42 Positions Relative to BOUT

Symbol	Grade	Weight
KVUE	F	10.37%
NU	C	9.61%
COIN	D	8.98%
APP	B	5.42%
ARM	F	4.21%
HOOD	B	4.11%
CNM	A	3.62%
PATH	D	2.77%
ONON	D	2.68%
CRBG	B	2.27%
RIVN	F	2.25%
BZ	A	2.25%
CFLT	C	2.02%
YMM	A	1.93%
S	C	1.89%
GTLB	C	1.85%
MNDY	D	1.74%
DV	F	1.61%
EDR	A	1.58%
GFS	F	1.41%
TPG	C	1.17%
GLBE	F	1.17%
DOCS	F	1.08%
FRSH	D	1.08%
MQ	F	0.96%
HCP	A	0.87%
BRZE	D	0.8%
DOCN	F	0.77%
SQSP	A	0.75%
NUVL	C	0.64%
YOU	F	0.59%
INFA	D	0.57%
BROS	D	0.55%
AGL	F	0.55%
DLO	F	0.54%
PYCR	D	0.42%
BIRK	D	0.41%
PWSC	F	0.38%
FLNC	D	0.35%
ACT	A	0.33%
BLCO	D	0.19%
INST	F	0.14%

IPO Underweight 56 Positions Relative to BOUT

Symbol	Grade	Weight
FTI	A	-3.47%
KSPI	A	-3.34%
AZEK	D	-3.2%
MSDL	A	-3.17%
TBBB	D	-3.16%
BLDR	C	-3.16%
HEAR	B	-3.15%
TXRH	A	-3.14%
LEN	D	-3.13%
WING	A	-3.09%
HUBS	B	-2.97%
GPS	D	-2.84%
IBKR	A	-2.8%
CELH	D	-2.8%
XYL	A	-2.75%
JPM	B	-2.73%
SAP	C	-2.72%
FROG	C	-2.7%
APPF	C	-2.61%
IOT	C	-2.48%
GOOGL	A	-1.87%
GOOG	A	-1.87%
CRM	D	-1.85%
PCAR	D	-1.82%
RCL	A	-1.81%
IRM	B	-1.81%
SHAK	B	-1.8%
FOR	D	-1.8%
AXP	A	-1.8%
ERJ	A	-1.77%
CROX	C	-1.72%
SEMR	D	-0.93%
PWR	A	-0.93%
NTAP	A	-0.93%
GVA	A	-0.92%
ERIE	D	-0.92%
URI	B	-0.91%
TOL	C	-0.89%
ISRG	C	-0.89%
RL	C	-0.85%
KNSL	D	-0.78%
ELF	C	-0.76%
WAB	A	-0.35%
SKWD	C	-0.35%
PSTG	A	-0.35%
NVDA	D	-0.35%
ANET	C	-0.35%
WMS	C	-0.34%
PLTR	C	-0.34%
KKR	C	-0.34%
OKTA	D	-0.33%
LRN	B	-0.33%
FIHL	A	-0.33%
DFH	D	-0.33%
ASML	D	-0.33%
TREX	C	-0.32%