Renaissance also announced the departure of 16 stocks from IPO, including Elon Musk’s SolarCity (NasdaqGS: SCTY), WhiteWave Foods (NYSE: WWAV) and six energy stocks. Oil and gas companies currently account for 9.1% of IPO’s weight, which has recently been a drag on the ETF as oil prices have tumbled.
Technology is IPO’s largest sector weight at 32.5%, nearly double the 16.4% weight allocated to health care, the ETF’s second-largest sector weight.
IPO’s largest holding is an 11.3% weight to Chinese e-commerce giant Alibaba (NYSE: BABA), one of the largest weights to that stock among all U.S.-listed ETFs. The ETF was among the first to own Alibaba, adding the stock five days after the company’s September IPO. Zoetis (NYSE: ZTS) and Twitter (NYSE: TWTR) round out IPO’s top three holdings. [A True Alibaba ETF]
Renaissance IPO ETF
