IPO vs. FPX ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to First Trust IPOX-100 Index Fund (FPX)

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

$40.08

Average Daily Volume

46,864

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPX

First Trust IPOX-100 Index Fund

FPX Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the IPOX(R)-100 U.S. Index. The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The index is a modified, value-weighted price index measuring the performance of the top U.S. companies ranked quarterly by market capitalization in the IPOX(R) Global Composite Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$104.31

Average Daily Volume

16,274

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FPX
30 Days	10.35%	9.00%
60 Days	-4.18%	-2.16%
90 Days	6.00%	5.57%
12 Months	35.73%	27.38%

20 Overlapping Holdings

Symbol	Grade	Weight in IPO	Weight in FPX	Overlap
ACT	A	0.34%	0.29%	0.29%
APP	B	6.38%	1.09%	1.09%
BRZE	F	0.81%	0.62%	0.62%
CNM	A	3.78%	2.33%	2.33%
COIN	D	8.1%	1.4%	1.4%
CRBG	B	2.42%	1.1%	1.1%
DUOL	D	1.95%	1.77%	1.77%
EDR	A	1.54%	0.54%	0.54%
GTLB	F	1.78%	0.52%	0.52%
HOOD	D	3.93%	0.71%	0.71%
INFA	D	0.47%	0.39%	0.39%
KVUE	C	10.59%	1.43%	1.43%
NUVL	D	0.64%	0.13%	0.13%
PATH	F	2.77%	0.34%	0.34%
PCOR	D	1.99%	0.37%	0.37%
RIVN	F	2.71%	0.29%	0.29%
RYAN	C	1.88%	0.51%	0.51%
S	D	1.9%	0.19%	0.19%
SQSP	A	0.9%	0.17%	0.17%
TPG	D	1.12%	1.16%	1.12%

IPO Overweight 25 Positions Relative to FPX

Symbol	Grade	Weight
NU	B	9.79%
ARM	F	4.43%
BZ	B	2.51%
ONON	D	2.38%
YMM	C	2.17%
CFLT	D	2.11%
MNDY	F	1.65%
GFS	D	1.52%
HCP	B	1.18%
GLBE	F	1.01%
DV	F	1.0%
MQ	F	0.97%
DOCS	F	0.95%
DOCN	D	0.84%
FRSH	F	0.81%
BROS	B	0.61%
AGL	F	0.56%
YOU	F	0.54%
DLO	F	0.45%
BIRK	C	0.44%
PWSC	D	0.37%
FLNC	D	0.37%
PYCR	F	0.34%
BLCO	D	0.19%
INST	F	0.14%

IPO Underweight 67 Positions Relative to FPX

Symbol	Grade	Weight
IOT	B	-9.28%
ABNB	D	-6.19%
CARR	A	-6.05%
REGN	C	-5.45%
CEG	B	-4.68%
UBER	D	-4.03%
OTIS	C	-3.16%
DASH	D	-3.15%
VRT	B	-2.91%
SQ	D	-2.57%
GEHC	D	-2.18%
DKNG	D	-1.63%
ON	F	-1.6%
SNOW	F	-1.58%
CRWD	C	-1.21%
PLTR	D	-1.12%
ESAB	B	-0.98%
HQY	D	-0.95%
RKT	B	-0.83%
VNT	D	-0.82%
AZEK	D	-0.82%
OWL	B	-0.78%
NET	F	-0.73%
VLTO	A	-0.71%
BRBR	C	-0.68%
RBLX	F	-0.61%
BLDR	D	-0.61%
NSIT	A	-0.6%
KD	A	-0.57%
PR	C	-0.57%
PCVX	D	-0.57%
VERX	C	-0.57%
DTM	A	-0.56%
BSY	A	-0.53%
NRG	A	-0.51%
JXN	B	-0.51%
TOST	B	-0.44%
PSN	D	-0.42%
RDDT	C	-0.42%
FNF	B	-0.41%
KNF	B	-0.39%
PECO	F	-0.39%
FOUR	D	-0.36%
CHK	C	-0.35%
BRKR	D	-0.31%
MKSI	C	-0.25%
LEGN	F	-0.24%
CIVI	B	-0.23%
AFRM	D	-0.22%
AMK	D	-0.22%
CRDO	D	-0.18%
ATKR	D	-0.17%
COOP	A	-0.16%
ACLX	F	-0.16%
BBIO	D	-0.16%
GKOS	A	-0.16%
IMVT	F	-0.13%
ASO	F	-0.12%
SGBX	D	-0.11%
PRCT	B	-0.1%
ACVA	D	-0.09%
HAYW	C	-0.09%
RXO	C	-0.07%
APLS	F	-0.07%
KROS	D	-0.06%
JBI	D	-0.06%
KYMR	D	-0.06%