Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
12.6%
1 yr return
35.1%
3 Yr Avg Return
-13.0%
5 Yr Avg Return
8.3%
Net Assets
$180 M
Holdings in Top 10
62.3%
Expense Ratio 0.60%
Front Load N/A
Deferred Load N/A
Turnover 156.00%
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Index. The Index, designed by IPO research firm Renaissance Capital LLC (the “Index Provider”), is a portfolio of companies that have recently completed an initial public offering (“IPO”) and are listed on a U.S. exchange. IPOs are a category of unseasoned equities under-represented in core equity indices. The Index is designed to capture approximately 80% of the total market capitalization of newly public companies, which are those companies that have gone public within the last three years and meet the Index Provider’s size, liquidity and free float criteria. At each quarterly rebalance, new IPOs that meet the Index Provider’s eligibility criteria are included and constituent companies that have been public for three years or that no longer meet the Index Provider's continued eligibility criteria are removed. Constituents are weighted by free float-adjusted market capitalization with individual weights capped at 10%. The Index has been constructed using a transparent and rules-based methodology.
The Fund normally invests at least 80% of its total assets in securities that comprise the Index. Depositary receipts representing securities that comprise the Index may count towards compliance with the Fund’s 80% policy. The Fund may also invest up to 20% of its assets in certain futures, options, and swap contracts, cash and cash equivalents, as well as in common stocks not included in the Index but which will help the Fund track the Index. Convertible securities and depositary receipts not included in the Index may be used by the Fund in seeking performance that corresponds to its Index and in managing cash flows.
The Index is comprised of common stocks, depositary receipts, real estate investment trusts (“REITs”) and partnership units. These securities may include IPOs of foreign companies that are listed on a U.S. exchange, as well as IPOs of companies which are located in countries categorized as emerging markets.
The Fund’s 80% investment policy is non-fundamental and requires 60 days’ prior written notice to shareholders before it can be changed.
The Fund, using a “passive” or indexing investment approach, attempts to approximate the investment performance of the Index by investing in a portfolio of securities that generally replicates the Index. Renaissance Capital LLC (the “Adviser”) expects that, over time, the correlation between the Fund’s performance before fees and expenses and that of the Index will be 95% or better. A figure of 100% would indicate perfect correlation.
The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries. Information technology frequently represents a major sector in the Index. As of September 30, 2023, the Index had significant exposure (i.e., 25% or more) to the software industry and consumer discretionary sector.
The Fund may lend securities to broker-dealers, banks and other institutions. When the Fund loans its portfolio securities, it will receive, at the inception of each loan, liquid collateral equal to at least 102% (for U.S.-listed securities) or 105% (for non-U.S.-listed securities) of the value of the portfolio securities being loaned.
Period | IPO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.6% | -11.7% | 67.5% | 48.38% |
1 Yr | 35.1% | 10.6% | 62.2% | 12.00% |
3 Yr | -13.0%* | -25.6% | 58.6% | 95.94% |
5 Yr | 8.3%* | -2.6% | 102.8% | 80.29% |
10 Yr | 7.0%* | 2.9% | 25.5% | 98.10% |
* Annualized
Period | IPO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 52.5% | -27.7% | 68.0% | 1.72% |
2022 | -57.3% | -85.6% | 52.8% | 95.96% |
2021 | -10.3% | -74.9% | 238.3% | 76.44% |
2020 | 107.3% | -44.1% | 2474.5% | 4.10% |
2019 | 33.7% | -50.2% | 44.0% | 15.86% |
Period | IPO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.6% | -11.7% | 67.5% | 48.38% |
1 Yr | 35.1% | 10.6% | 62.2% | 12.00% |
3 Yr | -13.0%* | -25.6% | 58.6% | 95.94% |
5 Yr | 8.3%* | -2.6% | 102.8% | 80.29% |
10 Yr | 7.0%* | 2.9% | 25.5% | 98.10% |
* Annualized
Period | IPO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 52.5% | -26.1% | 68.0% | 1.72% |
2022 | -57.3% | -67.0% | 56.8% | 97.31% |
2021 | -10.3% | -23.5% | 342.2% | 96.04% |
2020 | 107.9% | 2.6% | 2549.1% | 4.10% |
2019 | 34.4% | 14.6% | 44.8% | 45.03% |
IPO | Category Low | Category High | IPO % Rank | |
---|---|---|---|---|
Net Assets | 180 M | 2.73 M | 100 B | 81.52% |
Number of Holdings | 42 | 24 | 3590 | 84.76% |
Net Assets in Top 10 | 112 M | 670 K | 11.3 B | 68.19% |
Weighting of Top 10 | 62.33% | 4.5% | 98.2% | 6.86% |
Weighting | Return Low | Return High | IPO % Rank | |
---|---|---|---|---|
Stocks | 99.69% | 58.72% | 103.99% | 14.86% |
Cash | 1.58% | 0.00% | 41.99% | 54.67% |
Preferred Stocks | 0.00% | 0.00% | 5.73% | 27.62% |
Other | 0.00% | -0.04% | 14.45% | 38.29% |
Convertible Bonds | 0.00% | 0.00% | 0.40% | 17.33% |
Bonds | 0.00% | 0.00% | 2.35% | 24.57% |
Weighting | Return Low | Return High | IPO % Rank | |
---|---|---|---|---|
Technology | 53.75% | 0.04% | 62.17% | 0.57% |
Consumer Cyclical | 12.34% | 0.00% | 57.41% | 66.10% |
Healthcare | 12.01% | 0.00% | 37.06% | 86.67% |
Communication Services | 6.31% | 0.00% | 18.33% | 11.24% |
Financial Services | 5.16% | 0.00% | 43.01% | 66.86% |
Industrials | 4.43% | 0.00% | 38.23% | 91.43% |
Basic Materials | 3.68% | 0.00% | 17.25% | 28.57% |
Consumer Defense | 1.74% | 0.00% | 16.40% | 58.10% |
Real Estate | 0.59% | 0.00% | 19.28% | 80.95% |
Utilities | 0.00% | 0.00% | 12.94% | 39.24% |
Energy | 0.00% | 0.00% | 62.10% | 69.90% |
Weighting | Return Low | Return High | IPO % Rank | |
---|---|---|---|---|
US | 99.69% | 46.79% | 103.99% | 13.52% |
Non US | 0.00% | 0.00% | 34.12% | 37.33% |
IPO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.60% | 0.02% | 17.54% | 91.24% |
Management Fee | 0.60% | 0.00% | 1.50% | 17.37% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.40% | N/A |
IPO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
IPO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
IPO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 156.00% | 0.00% | 250.31% | 95.56% |
IPO | Category Low | Category High | IPO % Rank | |
---|---|---|---|---|
Dividend Yield | 0.08% | 0.00% | 33.43% | 33.90% |
IPO | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
IPO | Category Low | Category High | IPO % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.30% | -2.24% | 2.75% | 24.76% |
IPO | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 13, 2024 | $0.009 | OrdinaryDividend |
Jun 14, 2024 | $0.008 | OrdinaryDividend |
Mar 20, 2020 | $0.066 | OrdinaryDividend |
Dec 13, 2019 | $0.064 | OrdinaryDividend |
Jun 14, 2019 | $0.019 | OrdinaryDividend |
Mar 15, 2019 | $0.062 | OrdinaryDividend |
Sep 14, 2018 | $0.017 | OrdinaryDividend |
Jun 15, 2018 | $0.068 | OrdinaryDividend |
Mar 16, 2018 | $0.030 | OrdinaryDividend |
Sep 15, 2017 | $0.016 | OrdinaryDividend |
Jun 16, 2017 | $0.085 | OrdinaryDividend |
Mar 17, 2017 | $0.022 | OrdinaryDividend |
Sep 16, 2016 | $0.028 | OrdinaryDividend |
Jun 17, 2016 | $0.021 | OrdinaryDividend |
Mar 18, 2016 | $0.035 | OrdinaryDividend |
Dec 18, 2015 | $0.012 | OrdinaryDividend |
Mar 20, 2015 | $0.011 | OrdinaryDividend |
Dec 19, 2014 | $0.061 | OrdinaryDividend |
Dec 19, 2014 | $0.452 | CapitalGainShortTerm |
Sep 19, 2014 | $0.010 | OrdinaryDividend |
Jun 20, 2014 | $0.027 | OrdinaryDividend |
Mar 21, 2014 | $0.007 | OrdinaryDividend |
Dec 20, 2013 | $0.016 | OrdinaryDividend |
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