The Renaissance International IPO ETF (IPOS) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today, producing a +4.27% one-day return and outperforming the wider markets by a total of 3.99 percentage points.
Behind The Gains
IPOS closed today at $19.31 per share, up $0.79 (+4.27%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $0.64 (+0.28%) on the day.
IPOS’s trading volume today was a total of 237 shares, which was a decrease of 28% versus its average daily trading volume of 327. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.
Including any dividends as well as today’s gains, IPOS has now returned a total of 7.28% year-to-date, versus a 1.6% gain in the S&P 500 during the same timeframe.
A Look Under The Hood
Renaissance International IPO ETF is an Equity-focused product issued by Renaissance Capital. Its expense ratio of 0.80% makes it the #4 cheapest ETF among 4 total funds in the IPO ETFs category.
IPOS currently boasts $1.82M in assets under management (AUM), placing it #4 of 4 ETFs in its category, and #1837 of 1917 total ETFs in the U.S. exchange traded universe.
The investment objective of the Renaissance International IPO ETF is to replicate as closely as possible the price and yield performance of the Renaissance International IPO Index.
IPOS SMART Grade
For more information about this ETF, including full ratings, news, data, and more, please visit IPOS’s ticker page.
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