An IPO is defined as a public offering in which the shares of company stocks are sold to the general public for the first time on an exchange. FPXE’s underlying index includes a company’s equity securities for the 1,000 trading days following its IPO. The underlying index will include companies on the close of the 6th trading day following its IPO and will hold on to the companies until the close of the 1,000th trading day.

“Exposure to the IPOX 100 Europe Index provides investors with a diversified, one stop solution to access the performance of European new listings, an economically significant group of companies which often serve as a proxy for European economic growth and innovation,” Dr. Josef Schuster, CEO of IPOX Schuster LLC, the developer and provider of the index, said in a note. “I believe that this unique investment approach will benefit investors seeking equity exposure outside the traditional European benchmarks.”

Top holdings include Siemens Healthineers 7.0%, Orsted 5.7%, Ferrari 5.4%, ABN AMRO Group 4.2% and Vonovia 3.9%.

For more information on new fund products, visit our new ETFs category.