IPOS vs. PATN

Last updated Aug 2, 2026

IPOS (Renaissance International IPO ETF) and PATN (Pacer Nasdaq International Patent Leaders ETF) are both Foreign Large Cap Equities funds - IPOS tracks the Renaissance International IPO Index while PATN tracks the Nasdaq International Patent Leaders Index. Both are passively managed. Over the past year, IPOS returned 48.11% vs 52.34% for PATN. Their 0.65 correlation means they have sometimes moved together and sometimes differently. IPOS charges 0.80%/yr vs 0.65%/yr for PATN.

Performance

IPOS vs. PATN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Renaissance International IPO ETF (IPOS) and Pacer Nasdaq International Patent Leaders ETF (PATN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPOS achieves a 32.73% return, which is significantly higher than PATN's 27.96% return.

IPOS

• 1D: 0.99%
• 1M: -8.90%
• 6M: 16.48%
• YTD: 32.73%
• 1Y: 48.11%
• 3Y*: 12.33%
• 5Y*: -7.18%
• 10Y*: 2.37%
• ALL TIME*: 1.63%

PATN

• 1D: 0.45%
• 1M: -3.93%
• 6M: 17.30%
• YTD: 27.96%
• 1Y: 52.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.38%

*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)
IPOS Renaissance International IPO ETF	$55.92K	$63.26K	$109.96K
PATN Pacer Nasdaq International Patent Leaders ETF	$6.20M	$4.79M	$3.84M

IPOS vs. PATN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPOS Renaissance International IPO ETF	32.73%	39.93%	-6.01%
PATN Pacer Nasdaq International Patent Leaders ETF	27.96%	40.01%	-1.73%

Correlation

The correlation between IPOS and PATN is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.65

The correlation between IPOS and PATN has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

IPOS vs. PATN - Sectors Allocation Comparison

Sectors	IPOS	PATN
Technology	46.6%	43.9%
Healthcare	17.7%	9.5%
Industrials	14.5%	17.5%
Financial Services	7.5%	0.7%
Consumer Defensive	6.1%	6.2%
Energy	4.9%	0.9%
Basic Materials	4.4%	3.2%
Consumer Cyclical	3.4%	10.5%
Utilities	3.1%	-
Communication Services	0.3%	7.0%
Real Estate	-	-

Return for Risk

IPOS vs. PATN — Risk / Return Rank

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

IPOS

IPOS Risk / Return Rank: 61
IPOS Sharpe Ratio Rank: 59
IPOS Sortino Ratio Rank: 56
IPOS Omega Ratio Rank: 59
IPOS Calmar Ratio Rank: 74
IPOS Martin Ratio Rank: 59

PATN

PATN Risk / Return Rank: 84
PATN Sharpe Ratio Rank: 86
PATN Sortino Ratio Rank: 80
PATN Omega Ratio Rank: 84
PATN Calmar Ratio Rank: 88
PATN Martin Ratio Rank: 83

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.

IPOS vs. PATN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Renaissance International IPO ETF (IPOS) and Pacer Nasdaq International Patent Leaders ETF (PATN). 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.

	IPOS	PATN	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.02	-0.64
Sortino ratio: Return per unit of downside risk	1.93	2.62	-0.68
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.11
Calmar ratio: Return relative to maximum drawdown	2.59	3.56	-0.97
Martin ratio: Return relative to average drawdown	7.14	11.27	-4.13

IPOS vs. PATN - Sharpe Ratio Comparison

The current IPOS Sharpe Ratio is 1.39, which is lower than the PATN Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IPOS and PATN, 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

IPOS vs. PATN - Drawdown Comparison

The maximum IPOS drawdown since its inception was -73.09%, which is greater than PATN's maximum drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for IPOS and PATN.

Drawdown Indicators

	IPOS	PATN	Difference
Max Drawdown Largest peak-to-trough decline	-73.09%	-16.77%	-56.32%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-14.40%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-31.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.09%	—	—
Current Drawdown Current decline from peak	-43.60%	-9.89%	-33.71%
Average Drawdown Average peak-to-trough decline	-32.09%	-3.43%	-28.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.63%	4.54%	+2.09%

Volatility

IPOS vs. PATN - Volatility Comparison

Renaissance International IPO ETF (IPOS) has a higher volatility of 10.88% compared to Pacer Nasdaq International Patent Leaders ETF (PATN) at 8.80%. This indicates that IPOS's price experiences larger fluctuations and is considered to be riskier than PATN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPOS	PATN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.88%	8.80%	+2.08%
Volatility (6M) Calculated over the trailing 6-month period	31.55%	22.88%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	34.20%	25.37%	+8.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.15%	22.72%	+5.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	22.72%	+1.88%

IPOS vs. PATN - Expense Ratio Comparison

IPOS has a 0.80% expense ratio, which is higher than PATN's 0.65% expense ratio.

Dividends

IPOS vs. PATN - Dividend Comparison

IPOS's dividend yield for the trailing twelve months is around 0.35%, less than PATN's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPOS Renaissance International IPO ETF	0.35%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%
PATN Pacer Nasdaq International Patent Leaders ETF	1.70%	2.25%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPOS and PATN in my portfolio?

IPOS and PATN have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPOS or PATN?

IPOS has higher volatility (10.88%) compared to PATN (8.80%). In terms of maximum drawdown, IPOS dropped -73.09% vs PATN's -16.77%.

Which ETF is better, IPOS or PATN?

On 1-year performance, PATN leads with 52.34% vs 48.11% for IPOS. On fees, PATN is cheaper at 0.65% per year. On volatility, PATN has been the lower-risk option at 8.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPOS or PATN?

Over the 1-year period, PATN has performed better with a 52.34% return vs 48.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPOS or PATN?

PATN is cheaper with a 0.65% expense ratio, compared with 0.80% for IPOS.

Which ETF pays a higher dividend yield, IPOS or PATN?

PATN has the higher dividend yield at 1.70%, compared with 0.35% for IPOS.

What is the main difference between IPOS and PATN?

IPOS tracks Renaissance International IPO Index, while PATN tracks Nasdaq International Patent Leaders Index. They also come from different issuers: Renaissance Capital and Pacer. Their fees differ too: 0.80% for IPOS and 0.65% for PATN.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.02 vs 1.39), 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.