IPO vs. FPX
Compare and contrast key facts about Renaissance IPO ETF (IPO) and First Trust US Equity Opportunities ETF (FPX).
IPO and FPX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IPO is a passively managed fund by Renaissance Capital that tracks the performance of the Renaissance IPO Index. It was launched on Oct 14, 2013. FPX is a passively managed fund by First Trust that tracks the performance of the IPOX-100 U.S. Index. It was launched on Apr 12, 2006. Both IPO and FPX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IPO or FPX.
Correlation
The correlation between IPO and FPX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
IPO vs. FPX - Performance Comparison
Key characteristics
IPO:
1.01
FPX:
1.41
IPO:
1.46
FPX:
1.98
IPO:
1.18
FPX:
1.25
IPO:
0.44
FPX:
0.98
IPO:
5.04
FPX:
6.60
IPO:
4.85%
FPX:
4.72%
IPO:
24.28%
FPX:
22.07%
IPO:
-68.76%
FPX:
-56.29%
IPO:
-41.15%
FPX:
-9.23%
Returns By Period
In the year-to-date period, IPO achieves a 2.71% return, which is significantly higher than FPX's 1.84% return. Over the past 10 years, IPO has underperformed FPX with an annualized return of 7.13%, while FPX has yielded a comparatively higher 9.93% annualized return.
IPO
2.71%
-4.53%
9.39%
25.04%
6.65%
7.13%
FPX
1.84%
-4.34%
21.12%
30.99%
8.76%
9.93%
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IPO vs. FPX - Expense Ratio Comparison
IPO has a 0.60% expense ratio, which is higher than FPX's 0.57% expense ratio.
Risk-Adjusted Performance
IPO vs. FPX — Risk-Adjusted Performance Rank
IPO
FPX
IPO vs. FPX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Renaissance IPO ETF (IPO) and First Trust US Equity Opportunities ETF (FPX). 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.
Dividends
IPO vs. FPX - Dividend Comparison
IPO's dividend yield for the trailing twelve months is around 0.12%, more than FPX's 0.09% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPO Renaissance IPO ETF | 0.12% | 0.12% | 0.00% | 0.00% | 0.00% | 0.10% | 0.47% | 0.49% | 0.44% | 0.41% | 0.11% | 2.82% |
FPX First Trust US Equity Opportunities ETF | 0.09% | 0.09% | 0.27% | 1.08% | 0.14% | 0.28% | 0.67% | 0.88% | 0.68% | 0.77% | 0.62% | 0.79% |
Drawdowns
IPO vs. FPX - Drawdown Comparison
The maximum IPO drawdown since its inception was -68.76%, which is greater than FPX's maximum drawdown of -56.29%. Use the drawdown chart below to compare losses from any high point for IPO and FPX. For additional features, visit the drawdowns tool.
Volatility
IPO vs. FPX - Volatility Comparison
The current volatility for Renaissance IPO ETF (IPO) is 8.14%, while First Trust US Equity Opportunities ETF (FPX) has a volatility of 9.26%. This indicates that IPO experiences smaller price fluctuations and is considered to be less risky than FPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.