As such, IPO could be one of the first ETFs to added Twitter following the social media company’s much ballyhooed initial public offering. [Twitter IPO Could Lift Social Media ETF]
Like FPX, IPO caps individual holdings at 10%, but components leave IPO after two years. FPX holds stocks for up to 1,000 days after they go public. Top-five holdings in the FTSE Renaissance US IPO Index currently include Facebook (NasdaqGM: FB), Zoetis (NYSE: ZTS) and Michael Kors (NYSE: KORS), according to Renaissance Capital.
IPO’s underlying index was up nearly 48% year-to-date as of late last week.
