ETF Trends CEO Tom Lydon discussed the Renaissance IPO ETF (IPO) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
The ETF tracks the rules based Renaissance IPO Index, which adds sizeable new companies on a fast entry basis and the rest upon scheduled quarterly reviews. Companies that have been public for two years are removed at the next quarterly review.
The Renaissance IPO Index reflects approximately the top 80% of newly public companies based on full market capitalization, is weighted by free float capitalization and imposes a 10% cap on large constituents.
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