The Renaissance IPO ETF (NYSEArca: IPO) will add Ally Financial (NYSE: ALLY), the former unit of unit of General Motors (NYSE: GM) that went public last week, to its lineup.

The $29.2 million IPO, which debuted in October 2013, will add Ally Financial to its roster at the market close on April 17, according to Renaissance Capital. Ally Financial raised $2.4 billion in its IPO by pricing 95 million shares at $25.

After flirting with $28, shares of Ally closed at $24.20 last Friday, below the stock’s offering price. Formerly known as GMAC, the auto finance unit of GM, Ally became a ward of U.S. taxpayers afer the company needed a bailout during the financial crisis. “With the initial public offering, the Treasury sold 95 million Ally shares, and taxpayers made a $500 million profit on the $17.2 billion bailout,” according to Bloomberg.

IPO’s index allows for inclusion of new stocks after just five trading days, which allowed the ETF to be among the first to add shares of Twitter (NYSEArca: TWTR) last November. [IPO ETF Adds Twitter]

Other recent additions to IPO’s lineup include King Digital Entertainment (NYSE: KING), the mobile and social games maker, and IMS Health (NYSE: IMS). [Candy Crush Maker Enters IPO ETF]

Top-10 holdings in the ETF include Zoetis (NYSE: ZTS), Facebook (NasdaqGS: FB), Workday (NYSE: WDAY) and Splunk (NasdaqGS: SPLK). 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.

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