Renaissance IPO ETF

Renaissance IPO ETF is a transparent, rules-based exchange-traded fund that provides investors with targeted exposure to a portfolio of the largest and most liquid newly listed U.S. IPOs. It tracks the Renaissance IPO Index by holding stocks of companies that have recently gone public, adding significant new issuers on a fast-entry basis starting on their fifth day of trading or during quarterly reviews, while removing those that have been public for up to three years at subsequent rebalances. Constituents are weighted by float-adjusted market capitalization, with caps on individual holdings to promote diversification. The ETF primarily invests in large-cap companies across sectors such as technology, consumer cyclical, and communication services, alongside mid-cap names, offering access to innovative firms before their inclusion in major equity benchmarks like the S&P 500. This structure enables participation in the dynamic IPO market, capturing unseasoned equities that represent fresh capital raises and growth opportunities in the U.S. equity landscape. Managed by Renaissance Capital LLC since 2013, the fund emphasizes replication of index performance through a passive approach, focusing on U.S.-listed securities including common stocks and depositary receipts.