Top holdings in FPX look very different than IPO, likely due to this market cap focused methodology and tendency to buy the rising large caps, with FB (>10.5%), ABBV (>9.1%), GM (>5.0%), PSX (>4.5%), and KMI (>3.9%)
among the top holdings. IPO debuted in October of 2013 and FPX has a much longer history, having launched back in April of 2006. From an AUM perspective, FPX holds a commanding edge in terms of size at the moment, with more than $518 million compared to about $29 million.
Renaissance IPO ETF
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