IPO vs. SPY
Compare and contrast key facts about Renaissance IPO ETF (IPO) and SPDR S&P 500 ETF (SPY).
IPO and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both IPO and SPY 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 SPY.
Correlation
The correlation between IPO and SPY is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
IPO vs. SPY - Performance Comparison
Key characteristics
IPO:
1.01
SPY:
2.05
IPO:
1.46
SPY:
2.73
IPO:
1.18
SPY:
1.38
IPO:
0.44
SPY:
3.07
IPO:
5.04
SPY:
13.22
IPO:
4.85%
SPY:
1.95%
IPO:
24.28%
SPY:
12.57%
IPO:
-68.76%
SPY:
-55.19%
IPO:
-41.15%
SPY:
-2.69%
Returns By Period
In the year-to-date period, IPO achieves a 2.71% return, which is significantly higher than SPY's 0.58% return. Over the past 10 years, IPO has underperformed SPY with an annualized return of 7.13%, while SPY has yielded a comparatively higher 13.16% annualized return.
IPO
2.71%
-4.53%
9.39%
25.04%
6.65%
7.13%
SPY
0.58%
-2.18%
5.70%
25.99%
14.36%
13.16%
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IPO vs. SPY - Expense Ratio Comparison
IPO has a 0.60% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
IPO vs. SPY — Risk-Adjusted Performance Rank
IPO
SPY
IPO vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Renaissance IPO ETF (IPO) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
IPO's dividend yield for the trailing twelve months is around 0.12%, less than SPY's 1.20% 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% |
SPY SPDR S&P 500 ETF | 1.20% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
IPO vs. SPY - Drawdown Comparison
The maximum IPO drawdown since its inception was -68.76%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IPO and SPY. For additional features, visit the drawdowns tool.
Volatility
IPO vs. SPY - Volatility Comparison
Renaissance IPO ETF (IPO) has a higher volatility of 8.14% compared to SPDR S&P 500 ETF (SPY) at 4.49%. This indicates that IPO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.