TXSS vs. IPO ETF Comparison

Comparison of Texas Small Cap Equity Index ETF (TXSS) to Renaissance IPO ETF (IPO)

TXSS

Texas Small Cap Equity Index ETF

TXSS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in securities included in its underlying index. The index is a diversified, float-adjusted sector and, market-capitalization weighted index designed to reflect the performance primarily of stocks in small-capitalization companies that are headquartered in Texas.

Grade (RS Rating)

Last Trade

$25.05

Average Daily Volume

1,059

Number of Holdings ^*

* 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

$39.10

Average Daily Volume

51,092

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TXSS	IPO
30 Days	-0.55%	-2.61%
60 Days	1.79%	-2.61%
90 Days	6.16%	12.65%
12 Months		39.65%

1 Overlapping Holdings

	Symbol	Grade	Weight in TXSS	Weight in IPO	Overlap
	AGL	F	2.35%	0.54%	0.54%

TXSS Overweight 9 Positions Relative to IPO

Symbol	Grade	Weight
HHH	D	7.75%
AMN	D	3.74%
DNOW	D	3.69%
NSP	D	2.96%
NTST	C	2.85%
MRC	D	2.42%
KEX	B	2.33%
USPH	C	2.12%
ADUS	D	2.09%

TXSS Underweight 44 Positions Relative to IPO

Symbol	Grade	Weight
KVUE	F	-9.85%
COIN	D	-9.62%
NU	C	-9.54%
APP	B	-5.48%
HOOD	C	-4.18%
ARM	F	-3.87%
CNM	B	-3.67%
PATH	F	-2.73%
ONON	C	-2.56%
BZ	B	-2.42%
DUOL	A	-2.41%
RIVN	F	-2.26%
CRBG	A	-2.24%
YMM	B	-2.17%
CFLT	D	-2.1%
PCOR	D	-2.06%
S	D	-1.91%
GTLB	D	-1.86%
MNDY	D	-1.74%
RYAN	D	-1.74%
DV	F	-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	F	-0.82%
DOCN	D	-0.75%
SQSP	B	-0.74%
NUVL	D	-0.65%
YOU	F	-0.53%
INFA	D	-0.51%
BROS	D	-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%