October 19, 2023
For Immediate Release
STAMFORD, CT -- Renaissance Capital LLC, the leading provider of pre-IPO research and IPO-focused ETFs, is proud to announce the 10-year anniversary of the launch of the Renaissance IPO ETF (Ticker: IPO). Over the past decade, the IPO ETF has become an established benchmark for the performance of the US IPO market, and an easy way for investors to add new stocks to their portfolios with just one trade.
The Renaissance IPO ETF seeks to provide investors access to the largest, most liquid US-listed IPOs, including innovative companies after the most important fundraising event in their history. The ETF reduces the risk of single-stock ownership while adding diversification with virtually no overlap with major core indices. Launched in 2013, it is the only ETF focusing exclusively on the US IPO market.
"It can be difficult for investors to navigate the dynamic IPO landscape, which is why the Renaissance IPO ETF offers a rules-based approach to owning newly-listed companies,” said Tiffany Ng, Portfolio Manager at Renaissance Capital. The Renaissance IPO ETF tracks the Renaissance IPO Index (IPOUSA).
The Renaissance IPO ETF is rebalanced quarterly, so that holdings are cycled out after three years. This “catch and release strategy” provides a systematic approach to IPO investing, that aligns with Renaissance Capital's mission to empower investors to access the IPO market, an important and under-owned asset class.
As of September 30, 2023, the ETF had $190 million in assets under management. As of September 30, 2023, the top ten holdings included Airbnb (9.7%), Kenvue (9.4%), Palantir Technologies (8.0%), DoorDash (6.4%), Coupang (5.0%), Nu Holdings (4.5%), Rivian Automotive (4.3%), Roblox (3.6%), Coinbase (3.4%), and Bentley Systems (2.6%). Holdings are subject to change.
For current holdings go to https://etfs.renaissancecapital.com/us-ipo-etf.
For more information on Renaissance Capital’s ETFs, please visit https://etfs.renaissancecapital.com or email us at renaissance@renaissancecapital.com.
About Renaissance Capital
Founded in 1991, Renaissance Capital is the leading provider of pre-IPO research and IPO-focused ETFs. The Renaissance Capital IPO ETFs are designed to provide investors with efficient exposure to a portfolio of newly public companies ahead of their inclusion in core equity portfolios. By tracking the rules-based Renaissance IPO Index, designed by Renaissance Capital research to hold the largest, most liquid newly-listed IPOs, the Renaissance IPO ETFs include the most economically significant newly public companies. Companies that have been public for three years are removed at each quarterly review, guaranteeing a portfolio of many of the newest public companies.
Important Disclosures
Investments in the Renaissance IPO ETF, symbol "IPO", and the Renaissance International IPO ETF, symbol "IPOS" (the "ETFs") are subject to investment risk, including possible loss of the principal amounts invested. The ETFs invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which may result in extreme price volatility. Due to a greater number of IPOs in certain segments, the ETFs may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The ETFs may hold securities in the form of Depositary Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with this and other information, please visit www.renaissancecapital.com or call Foreside Fund Services, LLC, distributor for the ETFs, at 1-866-486-6645. Read the prospectus carefully before investing.
This press release and the information contained herein does not constitute and is not intended to constitute an offer of securities and accordingly should not be construed as such. The ETFs and any other products or services referenced in this press release may not be licensed in all jurisdictions, and unless otherwise indicated, no regulator or government authority has reviewed this press release, or the merits of the products and services referenced herein.