MMSC vs. IPO ETF Comparison

Comparison of First Trust Multi-Manager Small (MMSC) to Renaissance IPO ETF (IPO)

MMSC

First Trust Multi-Manager Small

MMSC Description

First Trust Multi-Manager Small is an exchange traded fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Driehaus Capital Management LLC and Stephens Investment Management Group. It invests in the public equity markets of global region. The fund invests in stocks of companies operating across diversified sectors. It invests in growth stocks of small cap companies, within the market capitalization range of the Russell 2000 Growth Index. The fund invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. The fund employs external research to create its portfolio. First Trust Multi-Manager Small was formed on October 13, 2021 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$18.66

Average Daily Volume

8,252

Number of Holdings ^*

175

* may have additional holdings in another (foreign) market

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

$38.06

Average Daily Volume

53,083

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MMSC	IPO
30 Days	-2.28%	-5.56%
60 Days	-3.29%	-4.08%
90 Days	5.87%	8.53%
12 Months	24.71%	39.91%

8 Overlapping Holdings

Symbol	Grade	Weight in MMSC	Weight in IPO	Overlap
BROS	F	0.59%	0.5%	0.5%
CNM	A	0.65%	3.67%	0.65%
DUOL	A	0.58%	2.41%	0.58%
GTLB	D	0.41%	1.86%	0.41%
MNDY	C	0.62%	1.74%	0.62%
NUVL	C	0.34%	0.65%	0.34%
RYAN	B	0.61%	1.74%	0.61%
S	C	0.3%	1.91%	0.3%

MMSC Overweight 167 Positions Relative to IPO

Symbol	Grade	Weight
SMCI	D	2.11%
ONTO	B	2.0%
BRBR	C	1.95%
AXON	B	1.94%
CYBR	D	1.68%
FTI	A	1.3%
WING	A	1.27%
CELH	C	1.24%
CRNX	A	0.96%
TMDX	A	0.95%
SAIA	F	0.89%
MEG	A	0.88%
WFRD	A	0.87%
AVAV	A	0.86%
HQY	D	0.85%
PCVX	C	0.85%
MANH	F	0.83%
SPSC	B	0.83%
ENV	A	0.82%
XENE	C	0.82%
NTRA	A	0.8%
PLMR	B	0.79%
AZEK	C	0.78%
AAON	A	0.75%
KTOS	A	0.75%
GKOS	A	0.74%
VRT	A	0.72%
PIPR	A	0.7%
EZPW	B	0.7%
RBC	C	0.68%
MTDR	D	0.66%
MGY	B	0.65%
HEI	A	0.65%
ACHC	F	0.64%
EXEL	B	0.64%
MMS	C	0.63%
SITE	F	0.63%
ELF	D	0.63%
VRNS	D	0.62%
HCI	B	0.62%
TREX	C	0.62%
TNDM	A	0.62%
TTEK	A	0.61%
KNSL	F	0.61%
IBP	B	0.6%
APG	D	0.6%
SWN	B	0.59%
FCN	A	0.57%
ICFI	C	0.57%
PRO	F	0.57%
SGBX	F	0.57%
FRPT	C	0.56%
SFM	A	0.56%
KMPR	B	0.56%
RGEN	D	0.55%
TDW	A	0.55%
FSS	B	0.55%
CHEF	B	0.55%
GWRE	C	0.53%
HALO	C	0.52%
CW	A	0.52%
MOD	A	0.51%
KNF	A	0.51%
PZZA	F	0.51%
AIT	C	0.51%
SUPN	C	0.5%
BFAM	D	0.5%
MEDP	D	0.49%
BCPC	C	0.49%
FIX	B	0.49%
APPF	B	0.48%
LGND	C	0.47%
ECPG	D	0.47%
UEC	A	0.47%
CRDO	F	0.47%
ICLR	D	0.47%
WEX	D	0.46%
RVLV	D	0.46%
MRUS	B	0.46%
AZTA	D	0.46%
INSP	B	0.46%
TENB	D	0.45%
ESTC	B	0.44%
IRTC	B	0.42%
AEO	B	0.42%
RPD	F	0.41%
NTNX	C	0.41%
HUBG	B	0.4%
TROX	A	0.4%
MTSI	B	0.4%
GLOB	F	0.4%
TECH	B	0.38%
MODN	B	0.38%
PR	B	0.38%
PSTG	C	0.38%
FIVE	F	0.37%
WHD	B	0.37%
HRI	D	0.37%
FIVN	F	0.37%
ZWS	D	0.35%
LSCC	F	0.35%
ITGR	B	0.35%
QLYS	D	0.34%
POWI	D	0.34%
ASO	D	0.33%
MSA	D	0.33%
LNN	B	0.33%
BMI	A	0.33%
CVNA	A	0.33%
GMED	F	0.32%
MOG.A	A	0.32%
HSTM	B	0.32%
EVR	D	0.32%
SKWD	C	0.31%
SSD	C	0.3%
LASR	D	0.3%
PCRX	D	0.3%
FLR	A	0.3%
CGNX	B	0.29%
NEOG	F	0.29%
RMBS	F	0.29%
AAOI	F	0.28%
SKY	C	0.28%
VIRT	A	0.27%
EME	A	0.27%
SLAB	D	0.27%
TOST	C	0.27%
LIVN	A	0.27%
ALTR	D	0.27%
RARE	D	0.26%
FN	C	0.26%
INTA	F	0.26%
KRYS	C	0.26%
ATEC	D	0.26%
FWRG	B	0.26%
BPMC	A	0.25%
GTLS	F	0.25%
KFY	C	0.25%
LOPE	B	0.25%
BCC	D	0.24%
BRP	C	0.24%
STRL	D	0.24%
KRNT	F	0.23%
COHR	C	0.23%
SDGR	F	0.23%
VSEC	A	0.22%
OSCR	A	0.22%
ITCI	B	0.22%
EVER	A	0.21%
HIMS	D	0.21%
WAL	B	0.21%
MKTX	D	0.21%
DNUT	F	0.21%
BLFS	B	0.2%
SMTC	A	0.2%
TYL	A	0.19%
MTH	A	0.19%
AMRC	D	0.17%
APLS	F	0.16%
CUBI	D	0.16%
MDGL	D	0.15%
EYE	F	0.15%
IPAR	F	0.14%
AMBA	F	0.11%
IOVA	C	0.11%
PODD	D	0.11%
QNST	A	0.09%

MMSC Underweight 37 Positions Relative to IPO

Symbol	Grade	Weight
KVUE	F	-9.85%
COIN	C	-9.62%
NU	C	-9.54%
APP	A	-5.48%
HOOD	B	-4.18%
ARM	D	-3.87%
PATH	F	-2.73%
ONON	C	-2.56%
BZ	A	-2.42%
RIVN	F	-2.26%
CRBG	A	-2.24%
YMM	A	-2.17%
CFLT	F	-2.1%
PCOR	D	-2.06%
DV	D	-1.57%
EDR	A	-1.55%
GFS	D	-1.4%
HCP	A	-1.17%
TPG	C	-1.16%
GLBE	F	-1.14%
FRSH	F	-1.09%
DOCS	D	-0.99%
MQ	D	-0.93%
BRZE	D	-0.82%
DOCN	D	-0.75%
SQSP	B	-0.74%
AGL	F	-0.54%
YOU	D	-0.53%
INFA	D	-0.51%
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%