IPO vs. COWZ ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Pacer US Cash Cows 100 ETF (COWZ)

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

$38.52

Average Daily Volume

51,952

Number of Holdings ^*

* may have additional holdings in another (foreign) market

COWZ

Pacer US Cash Cows 100 ETF

COWZ Description

The investment seeks to track the total return performance, before fees and expenses, of the Pacer US Small Cap Cash Cows Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the index. The index uses an objective, rules-based methodology to provide exposure to small-capitalization U.S. companies with high free cash flow yields. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$54.78

Average Daily Volume

2,239,105

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	COWZ
30 Days	-5.01%	-5.54%
60 Days	-3.09%	0.77%
90 Days	9.84%	5.69%
12 Months	40.33%	24.05%

2 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in COWZ	Overlap
	CNM	A	3.67%	0.79%	0.79%
	KVUE	D	9.85%	1.81%	1.81%

IPO Overweight 43 Positions Relative to COWZ

Symbol	Grade	Weight
COIN	D	9.62%
NU	C	9.54%
APP	B	5.48%
HOOD	C	4.18%
ARM	F	3.87%
PATH	D	2.73%
ONON	C	2.56%
BZ	A	2.42%
DUOL	A	2.41%
RIVN	F	2.26%
CRBG	A	2.24%
YMM	A	2.17%
CFLT	D	2.1%
PCOR	D	2.06%
S	D	1.91%
GTLB	F	1.86%
MNDY	D	1.74%
RYAN	D	1.74%
DV	D	1.57%
EDR	A	1.55%
GFS	D	1.4%
HCP	B	1.17%
TPG	C	1.16%
GLBE	F	1.14%
FRSH	F	1.09%
DOCS	F	0.99%
MQ	D	0.93%
BRZE	D	0.82%
DOCN	D	0.75%
SQSP	B	0.74%
NUVL	D	0.65%
AGL	F	0.54%
YOU	F	0.53%
INFA	D	0.51%
BROS	F	0.5%
DLO	F	0.48%
BIRK	D	0.42%
PYCR	F	0.42%
FLNC	B	0.36%
PWSC	F	0.36%
ACT	A	0.32%
BLCO	F	0.19%
INST	F	0.14%

IPO Underweight 97 Positions Relative to COWZ

Symbol	Grade	Weight
VST	A	-2.31%
EOG	B	-2.28%
VLO	C	-2.27%
MPC	D	-2.24%
XOM	B	-2.23%
FANG	B	-2.17%
OXY	C	-2.14%
CVX	B	-2.09%
DVN	B	-2.05%
MO	A	-2.05%
LYB	D	-1.98%
LNG	D	-1.97%
CMI	C	-1.97%
MMM	A	-1.96%
CSCO	F	-1.95%
T	C	-1.93%
LEN	C	-1.87%
BMY	F	-1.87%
HPQ	D	-1.86%
GILD	F	-1.81%
CAH	F	-1.79%
CVS	F	-1.79%
NUE	D	-1.77%
BG	C	-1.62%
MRO	C	-1.5%
PHM	A	-1.41%
VTRS	D	-1.41%
EBAY	C	-1.39%
DINO	F	-1.3%
EXPE	F	-1.21%
STLD	D	-1.2%
BLDR	C	-1.13%
CTRA	A	-1.13%
SWKS	F	-1.04%
DVA	B	-1.03%
NVR	D	-0.99%
OVV	B	-0.98%
WSM	A	-0.97%
OMC	B	-0.96%
TAP	F	-0.95%
WLK	B	-0.94%
SNX	A	-0.92%
CLF	F	-0.91%
BBY	D	-0.87%
CSL	A	-0.87%
OC	A	-0.86%
DKS	B	-0.86%
TOL	C	-0.84%
GPS	D	-0.81%
RS	D	-0.78%
ZM	F	-0.76%
TPR	D	-0.73%
SNA	D	-0.69%
MOS	F	-0.64%
JAZZ	D	-0.64%
EXPD	D	-0.63%
BERY	D	-0.63%
SKX	A	-0.57%
DXC	F	-0.56%
NXST	C	-0.56%
VFC	F	-0.55%
CROX	D	-0.54%
DOCU	B	-0.52%
DBX	F	-0.5%
UTHR	A	-0.5%
MTCH	D	-0.49%
DOX	F	-0.49%
INGR	C	-0.48%
ALSN	D	-0.46%
MHK	D	-0.43%
OLN	D	-0.43%
ETSY	F	-0.42%
CHRW	C	-0.41%
AGCO	F	-0.41%
NWL	D	-0.4%
THO	F	-0.4%
HRB	D	-0.39%
COLM	B	-0.38%
MSM	F	-0.38%
RHI	F	-0.35%
REYN	D	-0.35%
SMG	C	-0.35%
SOLV	C	-0.34%
AYI	C	-0.34%
PII	F	-0.33%
NEU	D	-0.32%
GTES	C	-0.32%
CRI	F	-0.28%
PLTK	C	-0.26%
TDC	F	-0.23%
LEG	F	-0.22%
RNG	D	-0.2%
CACC	D	-0.17%
PINC	F	-0.13%
YETI	F	-0.12%
IPGP	F	-0.12%
OLPX	F	-0.09%