IPO vs. BBHM

Last updated Aug 2, 2026

IPO (Renaissance IPO ETF) and BBHM (BBH Select Mid Cap ETF) are both Mid Cap Growth Equities funds - IPO tracks the Renaissance IPO Index while BBHM tracks the Actively Managed. Both are passively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. IPO charges 0.60%/yr vs 0.81%/yr for BBHM.

Performance

IPO vs. BBHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Renaissance IPO ETF (IPO) and BBH Select Mid Cap ETF (BBHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPO achieves a 12.19% return, which is significantly higher than BBHM's 4.62% return.

IPO

• 1D: -2.11%
• 1M: -11.04%
• 6M: 14.70%
• YTD: 12.19%
• 1Y: 12.44%
• 3Y*: 12.56%
• 5Y*: -3.83%
• 10Y*: 10.14%
• ALL TIME*: 8.05%

BBHM

• 1D: 0.26%
• 1M: -1.16%
• 6M: 3.60%
• YTD: 4.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBHM BBH Select Mid Cap ETF	$677.76K	$827.89K	$1.51M
IPO Renaissance IPO ETF	$994.90K	$1.09M	$2.23M

IPO vs. BBHM - Yearly Performance Comparison

	2026 (YTD)	2025
IPO Renaissance IPO ETF	12.19%	3.07%
BBHM BBH Select Mid Cap ETF	4.62%	0.98%

Correlation

The correlation between IPO and BBHM is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.59

Return for Risk

IPO vs. BBHM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPO

IPO Risk / Return Rank: 19
IPO Sharpe Ratio Rank: 19
IPO Sortino Ratio Rank: 21
IPO Omega Ratio Rank: 19
IPO Calmar Ratio Rank: 18
IPO Martin Ratio Rank: 17

BBHM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPO vs. BBHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Renaissance IPO ETF (IPO) and BBH Select Mid Cap ETF (BBHM). 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.

	IPO	BBHM	Difference
Sharpe ratio: Return per unit of total volatility	0.37	—	—
Sortino ratio: Return per unit of downside risk	0.73	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.45	—	—
Martin ratio: Return relative to average drawdown	0.97	—	—

Drawdowns

IPO vs. BBHM - Drawdown Comparison

The maximum IPO drawdown since its inception was -68.76%, which is greater than BBHM's maximum drawdown of -9.78%. Use the drawdown chart below to compare losses from any high point for IPO and BBHM.

Drawdown Indicators

	IPO	BBHM	Difference
Max Drawdown Largest peak-to-trough decline	-68.76%	-9.78%	-58.98%
Max Drawdown (1Y) Largest decline over 1 year	-26.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-32.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-66.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-68.76%	—	—
Current Drawdown Current decline from peak	-32.21%	-2.64%	-29.57%
Average Drawdown Average peak-to-trough decline	-22.97%	-2.83%	-20.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.07%	—	—

Volatility

Volatility by Period

	IPO	BBHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.90%	17.63%	+14.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.26%	17.63%	+18.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.74%	17.63%	+14.11%

IPO vs. BBHM - Expense Ratio Comparison

IPO has a 0.60% expense ratio, which is lower than BBHM's 0.81% expense ratio.

Dividends

IPO vs. BBHM - Dividend Comparison

IPO's dividend yield for the trailing twelve months is around 0.46%, while BBHM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBHM BBH Select Mid Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPO Renaissance IPO ETF	0.46%	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 IPO and BBHM in my portfolio?

IPO and BBHM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IPO or BBHM?

On fees, IPO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPO or BBHM?

IPO is cheaper with a 0.60% expense ratio, compared with 0.81% for BBHM.

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

IPO has the higher dividend yield at 0.46%, compared with 0.00% for BBHM.

What is the main difference between IPO and BBHM?

IPO tracks Renaissance IPO Index, while BBHM tracks Actively Managed. They also come from different issuers: Renaissance Capital and BBH. Their fees differ too: 0.60% for IPO and 0.81% for BBHM.