XSW vs. IPO ETF Comparison

Comparison of SPDR S&P Software & Services ETF (XSW) to Renaissance IPO ETF (IPO)

XSW

SPDR S&P Software & Services ETF

XSW Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the computer software segment of a U.S. total market composite index. In seeking to track the performance of the S&P Software & Services Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the software and services industry group of the S&P Total Stock Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$145.58

Average Daily Volume

14,504

Number of Holdings ^*

126

* 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

$37.21

Average Daily Volume

55,169

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	XSW	IPO
30 Days	-5.18%	-9.11%
60 Days	-6.04%	-6.22%
90 Days	-2.72%	7.79%
12 Months	28.27%	36.45%

14 Overlapping Holdings

Symbol	Grade	Weight in XSW	Weight in IPO	Overlap
APP	B	0.91%	5.48%	0.91%
BRZE	F	0.61%	0.82%	0.61%
CFLT	F	0.71%	2.1%	0.71%
DV	F	0.74%	1.57%	0.74%
FRSH	D	0.77%	1.09%	0.77%
GTLB	F	0.75%	1.86%	0.75%
HCP	A	0.96%	1.17%	0.96%
INFA	D	0.78%	0.51%	0.51%
INST	F	0.72%	0.14%	0.14%
PATH	F	0.64%	2.73%	0.64%
PCOR	D	0.69%	2.06%	0.69%
PWSC	F	0.66%	0.36%	0.36%
S	C	0.61%	1.91%	0.61%
YOU	F	0.67%	0.53%	0.53%

XSW Overweight 112 Positions Relative to IPO

Symbol	Grade	Weight
AUR	B	1.07%
ZETA	A	0.99%
MODN	A	0.92%
ENV	B	0.89%
MITK	D	0.87%
TYL	A	0.86%
JAMF	A	0.86%
DDOG	A	0.85%
AGYS	B	0.85%
QTWO	A	0.85%
BSY	B	0.85%
ZUO	A	0.84%
BLKB	B	0.83%
APPF	B	0.83%
ORCL	D	0.82%
HUBS	B	0.82%
ALKT	A	0.81%
ACIW	A	0.81%
PANW	B	0.81%
DOCU	A	0.8%
APPN	C	0.8%
TTWO	D	0.79%
DT	F	0.79%
NCNO	D	0.79%
FIVN	F	0.79%
QLYS	D	0.79%
ALTR	D	0.79%
ESTC	B	0.79%
CVLT	A	0.78%
ANSS	D	0.78%
EVBG	A	0.78%
PLTK	B	0.78%
MSFT	C	0.78%
ETWO	A	0.78%
VERX	C	0.78%
ATEN	B	0.78%
VRNT	C	0.78%
DBX	F	0.78%
TENB	D	0.77%
TDC	D	0.77%
SPSC	B	0.76%
IT	D	0.76%
CWAN	F	0.76%
PTC	D	0.76%
INTU	C	0.76%
IDCC	D	0.75%
NOW	D	0.75%
PEGA	C	0.75%
DLB	F	0.75%
DXC	F	0.75%
ROP	D	0.75%
RIOT	F	0.75%
GWRE	D	0.75%
CRWD	D	0.74%
EA	D	0.74%
PRO	D	0.74%
CLSK	B	0.74%
SNPS	D	0.74%
WDAY	F	0.74%
PRGS	F	0.73%
RAMP	F	0.73%
NTNX	C	0.73%
NABL	D	0.73%
WK	F	0.73%
CDNS	D	0.72%
IOT	B	0.72%
ZM	F	0.72%
SMAR	D	0.72%
BOX	D	0.71%
BL	D	0.71%
SWI	D	0.71%
BILL	F	0.71%
VRNS	D	0.71%
YEXT	F	0.71%
ZS	F	0.7%
U	D	0.7%
IBUY	D	0.7%
OLO	D	0.7%
INTA	F	0.7%
FTNT	D	0.7%
MSTR	D	0.7%
CRM	D	0.7%
KD	C	0.7%
RBLX	D	0.7%
ALRM	C	0.69%
CXM	D	0.69%
ADBE	F	0.68%
ADSK	F	0.68%
CTSH	D	0.68%
SPT	F	0.68%
IBM	D	0.67%
FICO	D	0.67%
TEAM	F	0.67%
PLTR	C	0.67%
PDFS	F	0.66%
RNG	D	0.66%
RPD	F	0.66%
MARA	D	0.65%
ACN	F	0.64%
MANH	F	0.63%
ASAN	D	0.62%
EGHT	F	0.6%
EPAM	F	0.6%
SOUN	D	0.59%
AI	F	0.56%
OSPN	A	0.56%
GDYN	F	0.55%
CRNC	F	0.54%
PRFT	D	0.53%
DMRC	F	0.49%
HCKT	D	0.36%
AMSWA	F	0.33%

XSW Underweight 31 Positions Relative to IPO

Symbol	Grade	Weight
KVUE	F	-9.85%
COIN	D	-9.62%
NU	C	-9.54%
HOOD	D	-4.18%
ARM	F	-3.87%
CNM	A	-3.67%
ONON	D	-2.56%
BZ	A	-2.42%
DUOL	A	-2.41%
RIVN	F	-2.26%
CRBG	B	-2.24%
YMM	A	-2.17%
MNDY	C	-1.74%
RYAN	B	-1.74%
EDR	A	-1.55%
GFS	F	-1.4%
TPG	C	-1.16%
GLBE	F	-1.14%
DOCS	F	-0.99%
MQ	D	-0.93%
DOCN	C	-0.75%
SQSP	B	-0.74%
NUVL	C	-0.65%
AGL	F	-0.54%
BROS	F	-0.5%
DLO	F	-0.48%
BIRK	D	-0.42%
PYCR	F	-0.42%
FLNC	B	-0.36%
ACT	A	-0.32%
BLCO	F	-0.19%