ARKW vs. IPO

Last updated Jun 24, 2026

ARKW (ARK Next Generation Internet ETF) and IPO (Renaissance IPO ETF) are both Mid Cap Growth Equities funds. ARKW is actively managed, while IPO is passively managed. Over the past 10 years, ARKW returned 22.53%/yr vs 12.04%/yr for IPO. Their correlation of 0.85 suggests significant overlap in exposure. ARKW charges 0.76%/yr vs 0.60%/yr for IPO.

Performance

ARKW vs. IPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Next Generation Internet ETF (ARKW) and Renaissance IPO ETF (IPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKW achieves a -4.76% return, which is significantly lower than IPO's 25.24% return. Over the past 10 years, ARKW has outperformed IPO with an annualized return of 22.53%, while IPO has yielded a comparatively lower 12.04% annualized return.

ARKW

• 1D: -1.79%
• 1M: -3.15%
• YTD: -4.76%
• 6M: -7.39%
• 1Y: -0.64%
• 3Y*: 36.73%
• 5Y*: -1.21%
• 10Y*: 22.53%

IPO

• 1D: -3.12%
• 1M: 7.67%
• YTD: 25.24%
• 6M: 22.03%
• 1Y: 32.81%
• 3Y*: 22.83%
• 5Y*: -2.68%
• 10Y*: 12.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARKW vs. IPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKW ARK Next Generation Internet ETF	-4.76%	38.93%	42.27%	96.89%	-67.49%	-18.85%	157.44%	35.76%	4.24%	87.29%
IPO Renaissance IPO ETF	25.24%	5.45%	15.68%	52.55%	-57.26%	-10.31%	107.88%	34.11%	-17.24%	37.16%

Correlation

The correlation between ARKW and IPO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014	0.85

The correlation between ARKW and IPO has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

ARKW vs. IPO - Sectors Allocation Comparison

Sectors	ARKW	IPO
Technology	44.0%	46.6%
Communication Services	14.6%	6.7%
Consumer Cyclical	14.4%	12.2%
Financial Services	14.1%	4.4%
Industrials	4.9%	8.8%
Basic Materials	-	-
Consumer Defensive	-	7.8%
Energy	-	0.9%
Healthcare	-	8.9%
Real Estate	-	3.5%
Utilities	-	0.2%

Return for Risk

ARKW vs. IPO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKW

ARKW Risk / Return Rank: 9
ARKW Sharpe Ratio Rank: 8
ARKW Sortino Ratio Rank: 9
ARKW Omega Ratio Rank: 9
ARKW Calmar Ratio Rank: 8
ARKW Martin Ratio Rank: 8

IPO

IPO Risk / Return Rank: 28
IPO Sharpe Ratio Rank: 32
IPO Sortino Ratio Rank: 32
IPO Omega Ratio Rank: 29
IPO Calmar Ratio Rank: 27
IPO Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARKW vs. IPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Next Generation Internet ETF (ARKW) and Renaissance IPO ETF (IPO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ARKW	IPO	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	1.09	-1.11
Sortino ratio: Return per unit of downside risk	0.20	1.61	-1.41
Omega ratio: Gain probability vs. loss probability	1.02	1.19	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.02	1.26	-1.27
Martin ratio: Return relative to average drawdown	-0.04	2.81	-2.84

ARKW vs. IPO - Sharpe Ratio Comparison

The current ARKW Sharpe Ratio is -0.02, which is lower than the IPO Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of ARKW and IPO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARKW vs. IPO - Drawdown Comparison

The maximum ARKW drawdown since its inception was -80.52%, which is greater than IPO's maximum drawdown of -68.76%. Use the drawdown chart below to compare losses from any high point for ARKW and IPO.

Drawdown Indicators

	ARKW	IPO	Difference
Max Drawdown Largest peak-to-trough decline	-80.52%	-68.76%	-11.76%
Max Drawdown (1Y) Largest decline over 1 year	-36.21%	-26.24%	-9.97%
Max Drawdown (3Y) Largest decline over 3 years	-36.21%	-32.04%	-4.17%
Max Drawdown (5Y) Largest decline over 5 years	-77.36%	-66.02%	-11.34%
Max Drawdown (10Y) Largest decline over 10 years	-80.52%	-68.76%	-11.76%
Current Drawdown Current decline from peak	-23.67%	-24.33%	+0.66%
Average Drawdown Average peak-to-trough decline	-23.97%	-22.93%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.14%	11.72%	+6.42%

Volatility

ARKW vs. IPO - Volatility Comparison

ARK Next Generation Internet ETF (ARKW) and Renaissance IPO ETF (IPO) have volatilities of 11.08% and 11.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKW	IPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.08%	11.32%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	24.74%	23.79%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	32.81%	30.30%	+2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.66%	36.08%	+7.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.78%	31.61%	+6.17%

ARKW vs. IPO - Expense Ratio Comparison

ARKW has a 0.76% expense ratio, which is higher than IPO's 0.60% expense ratio.

Dividends

ARKW vs. IPO - Dividend Comparison

ARKW's dividend yield for the trailing twelve months is around 1.67%, more than IPO's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKW ARK Next Generation Internet ETF	1.67%	1.59%	0.00%	0.00%	0.00%	0.17%	1.29%	0.00%	13.05%	2.05%	0.00%	2.29%
IPO Renaissance IPO ETF	0.42%	0.66%	0.12%	0.00%	0.00%	0.00%	0.10%	0.26%	0.49%	0.43%	0.40%	0.11%

Frequently Asked Questions

Can I hold both ARKW and IPO in my portfolio?

ARKW and IPO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKW or IPO?

IPO has higher volatility (11.32%) compared to ARKW (11.08%). In terms of maximum drawdown, ARKW dropped -80.52% vs IPO's -68.76%.

Which ETF is better, ARKW or IPO?

On 10-year performance, ARKW leads with 22.53% vs 12.04% for IPO. On fees, IPO is cheaper at 0.60% per year. On volatility, ARKW has been the lower-risk option at 11.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKW or IPO?

Over the 10-year period, ARKW has performed better with a 22.53% return vs 12.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKW or IPO?

IPO is cheaper with a 0.60% expense ratio, compared with 0.76% for ARKW.

Which ETF pays a higher dividend yield, ARKW or IPO?

ARKW has the higher dividend yield at 1.67%, compared with 0.42% for IPO.

What is the main difference between ARKW and IPO?

They also come from different issuers: ARK and Renaissance Capital. Their fees differ too: 0.76% for ARKW and 0.60% for IPO.

Which has better risk-adjusted returns?

IPO currently has the higher Sharpe Ratio (1.09 vs -0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.