IPO vs. SOXQ ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Invesco PHLX Semiconductor ETF (SOXQ)

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

$46.12

Average Daily Volume

29,831

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SOXQ

Invesco PHLX Semiconductor ETF

SOXQ Description

The investment seeks to track the investment results (before fees and expenses) of the PHLX Semiconductor Sector Index ®. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq compiles the underlying index, which is a modified market-capitalization weighted index designed to measure the performance of the 30 largest companies listed in the United States that are engaged in the semiconductor business, as determined by the index Provider. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$39.07

Average Daily Volume

406,035

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	SOXQ
30 Days	5.01%	-3.27%
60 Days	7.00%	-1.16%
90 Days	9.52%	-5.22%
12 Months	39.22%	32.94%

2 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in SOXQ	Overlap
	ARM	D	8.6%	1.35%	1.35%
	GFS	C	2.72%	1.87%	1.87%

IPO Overweight 15 Positions Relative to SOXQ

Symbol	Grade	Weight
NU	C	9.95%
KVUE	A	9.28%
RIVN	F	6.46%
CRBG	B	5.74%
GTLB	B	4.71%
TPG	A	3.62%
HCP	B	3.13%
RDDT	B	2.19%
RBRK	A	1.62%
BRZE	C	1.56%
INFA	D	1.34%
BIRK	D	1.15%
FLNC	C	0.8%
BLCO	D	0.52%
ZK	D	0.4%

IPO Underweight 28 Positions Relative to SOXQ

Symbol	Grade	Weight
NVDA	C	-15.2%
AVGO	D	-10.78%
AMD	F	-7.7%
MRVL	B	-4.9%
INTC	D	-4.68%
TSM	B	-4.53%
MU	D	-4.25%
TXN	C	-3.96%
AMAT	F	-3.89%
QCOM	F	-3.86%
LRCX	F	-3.75%
ADI	D	-3.73%
NXPI	D	-3.6%
KLAC	D	-3.24%
ASML	F	-3.16%
MCHP	D	-2.79%
ON	D	-2.27%
MPWR	F	-2.23%
TER	D	-1.38%
ENTG	D	-1.21%
COHR	B	-1.21%
SWKS	F	-1.06%
MTSI	B	-0.72%
ONTO	D	-0.64%
LSCC	D	-0.55%
AMKR	D	-0.51%
QRVO	F	-0.5%
CRUS	D	-0.43%