IPOs that pass Renaissance Capital’s formulated screening process are weighted by investable market capitalization, capped at 10% and removed after two years, according to Renaissance Capital. The First Trust US IPO Index Fund (NYSEArca: FPX) holds stocks for up to 1,000 days.
IPO, which debuted in October 2013, is home to over $30 million in assets under management. Top-10 holdings in the ETF include Zoetis (NYSE: ZTS), Facebook (NasdaqGS: FB), Workday (NYSE: WDAY) and Splunk (NasdaqGS: SPLK).
Renaissance IPO ETF
<em>ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Facebook.</em>