KOMP vs. IPO

Last updated Jun 25, 2026

KOMP (SPDR S&P Kensho New Economies Composite ETF) and IPO (Renaissance IPO ETF) are both Mid Cap Growth Equities funds - KOMP tracks the S&P Kensho New Economies Composite Index while IPO tracks the Renaissance IPO Index. Both are passively managed. Over the past 5 years, KOMP returned 1.68%/yr vs -2.86%/yr for IPO. Their correlation of 0.83 suggests significant overlap in exposure. KOMP charges 0.20%/yr vs 0.60%/yr for IPO.

Performance

KOMP vs. IPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho New Economies Composite ETF (KOMP) 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, KOMP achieves a 14.25% return, which is significantly lower than IPO's 24.04% return.

KOMP

• 1D: -1.25%
• 1M: -3.38%
• YTD: 14.25%
• 6M: 11.15%
• 1Y: 30.32%
• 3Y*: 18.25%
• 5Y*: 1.68%
• 10Y*: —

IPO

• 1D: -0.96%
• 1M: 6.64%
• YTD: 24.04%
• 6M: 20.76%
• 1Y: 28.94%
• 3Y*: 22.43%
• 5Y*: -2.86%
• 10Y*: 11.93%

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

KOMP vs. IPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KOMP SPDR S&P Kensho New Economies Composite ETF	14.25%	19.74%	10.05%	20.09%	-32.21%	3.67%	61.28%	37.12%	-10.32%
IPO Renaissance IPO ETF	24.04%	5.45%	15.68%	52.55%	-57.26%	-10.31%	107.88%	34.11%	-12.88%

Correlation

The correlation between KOMP and IPO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 23, 2018	0.83

The correlation between KOMP and IPO has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

KOMP vs. IPO - Sectors Allocation Comparison

Sectors	KOMP	IPO
Technology	35.5%	46.6%
Industrials	27.7%	8.8%
Healthcare	11.1%	8.9%
Financial Services	6.2%	4.4%
Communication Services	5.3%	6.7%
Utilities	4.8%	0.2%
Consumer Cyclical	4.3%	12.2%
Basic Materials	2.5%	-
Energy	2.4%	0.9%
Consumer Defensive	0.2%	7.8%
Real Estate	-	3.5%

Return for Risk

KOMP vs. IPO — Risk / Return Rank

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

KOMP

KOMP Risk / Return Rank: 39
KOMP Sharpe Ratio Rank: 38
KOMP Sortino Ratio Rank: 36
KOMP Omega Ratio Rank: 35
KOMP Calmar Ratio Rank: 43
KOMP Martin Ratio Rank: 41

IPO

IPO Risk / Return Rank: 26
IPO Sharpe Ratio Rank: 29
IPO Sortino Ratio Rank: 29
IPO Omega Ratio Rank: 27
IPO Calmar Ratio Rank: 25
IPO Martin Ratio Rank: 21

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.

KOMP vs. IPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho New Economies Composite ETF (KOMP) 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.

	KOMP	IPO	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.96	+0.27
Sortino ratio: Return per unit of downside risk	1.73	1.46	+0.27
Omega ratio: Gain probability vs. loss probability	1.22	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.96	1.11	+0.86
Martin ratio: Return relative to average drawdown	6.05	2.47	+3.58

KOMP vs. IPO - Sharpe Ratio Comparison

The current KOMP Sharpe Ratio is 1.23, which is comparable to the IPO Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of KOMP 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

KOMP vs. IPO - Drawdown Comparison

The maximum KOMP drawdown since its inception was -50.06%, smaller than the maximum IPO drawdown of -68.76%. Use the drawdown chart below to compare losses from any high point for KOMP and IPO.

Drawdown Indicators

	KOMP	IPO	Difference
Max Drawdown Largest peak-to-trough decline	-50.06%	-68.76%	+18.70%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-26.24%	+10.74%
Max Drawdown (3Y) Largest decline over 3 years	-24.93%	-32.04%	+7.11%
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	-66.02%	+20.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-68.76%	—
Current Drawdown Current decline from peak	-9.46%	-25.06%	+15.60%
Average Drawdown Average peak-to-trough decline	-21.57%	-22.93%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	11.73%	-6.70%

Volatility

KOMP vs. IPO - Volatility Comparison

The current volatility for SPDR S&P Kensho New Economies Composite ETF (KOMP) is 10.58%, while Renaissance IPO ETF (IPO) has a volatility of 11.40%. This indicates that KOMP experiences smaller price fluctuations and is considered to be less risky than IPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KOMP	IPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.58%	11.40%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	19.78%	23.69%	-3.91%
Volatility (1Y) Calculated over the trailing 1-year period	24.74%	30.31%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.09%	36.08%	-10.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.13%	31.61%	-4.48%

KOMP vs. IPO - Expense Ratio Comparison

KOMP has a 0.20% expense ratio, which is lower than IPO's 0.60% expense ratio.

Dividends

KOMP vs. IPO - Dividend Comparison

KOMP's dividend yield for the trailing twelve months is around 1.53%, more than IPO's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
KOMP SPDR S&P Kensho New Economies Composite ETF	1.53%	1.84%	1.04%	1.27%	1.47%	1.44%	0.69%	0.81%	0.13%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KOMP and IPO in my portfolio?

KOMP and IPO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KOMP or IPO?

IPO has higher volatility (11.40%) compared to KOMP (10.58%). In terms of maximum drawdown, KOMP dropped -50.06% vs IPO's -68.76%.

Which ETF is better, KOMP or IPO?

On 5-year performance, KOMP leads with 1.68% vs -2.86% for IPO. On fees, KOMP is cheaper at 0.20% per year. On volatility, KOMP has been the lower-risk option at 10.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOMP or IPO?

Over the 5-year period, KOMP has performed better with a 1.68% return vs -2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOMP or IPO?

KOMP is cheaper with a 0.20% expense ratio, compared with 0.60% for IPO.

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

KOMP has the higher dividend yield at 1.53%, compared with 0.42% for IPO.

What is the main difference between KOMP and IPO?

KOMP tracks S&P Kensho New Economies Composite Index, while IPO tracks Renaissance IPO Index. They also come from different issuers: State Street and Renaissance Capital. Their fees differ too: 0.20% for KOMP and 0.60% for IPO.

Which has better risk-adjusted returns?

KOMP currently has the higher Sharpe Ratio (1.23 vs 0.96), 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.