The Renaissance IPO ETF (NYSEArca: IPO), which has risen to acclaim in recent weeks for being among the ETFs with the largest weight to Alibaba (NYSE: BABA) gets an international cousin today with the debut of the Renaissance International IPO ETF (NYSEArca: IPOS).

IPOS tracks the Renaissance International IPO Index, meaning that like IPO, the new ETF will be a cap-weighted fund. There will be no overlap in holdings between the two ETFs, meaning that well-known China IPOs such as Alibaba and (NasdaqGS: JD), which reside in IPO, will not be found in the new ETF. IPOS’ benchmark comes courtesy of the FTSE Group

IPO was the second ETF to add Alibaba after the company’s Sept. 19 initial public offering, doing so five days after the company came public. Alibaba is now IPO’s second-largest holding at 9.62%, just behind the 10.17% the ETF allocates to Twitter (NYSE: TWTR). That is by far the largest allocation to Alibaba among ETF’s that currently hold the stock. [A True Alibaba ETF]

Even when excluding Alibaba, the third quarter was the best quarter in four years for initial public offerings.

“The launch of the Renaissance International IPO ETF responds to investor demand for systematic exposure to newly listed IPOs in a low‐cost tax‐efficient exchange traded structure,” said Kathleen Smith, Chairman of Renaissance Capital, in a statement. “When added to core equity holdings, this portfolio of new equities provides investors with unique returns and more complete coverage of the full set of public equities. The Renaissance International IPO ETF when coupled with the Renaissance IPO ETF provides investors with access to the entire global IPO market.”

Like IPO, IPOS has the ability to add “sizable new companies on the fifth day of trading and the rest on scheduled quarterly reviews. Companies are removed after two years when the they become seasoned stocks,” according to Renaissance Capital.