Renaissance IPO ETF (IPO)
Renaissance IPO ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Greenwich, CT, US. The stock last traded at $56.33, up 2.47% on the session, giving a market capitalisation of $200.1M. Its beta of 1.64 implies it has historically moved more than the broad market.
This fund aims to closely track the investment returns – both capital appreciation and income – of its underlying index, prior to the deduction of management fees and other operating costs. To achieve this, it typically commits a minimum of 80% of its total assets to the securities that constitute this benchmark. The index itself consists of a collection of companies that have recently gone public through an Initial Public Offering (IPO) and are traded on a U.S. stock exchange. It is classified as a non-diversified fund.
Renaissance IPO ETF is most often compared with the following Financial Services names: