IBAT vs. IPO ETF Comparison

Comparison of iShares Energy Storage & Materials ETF (IBAT) to Renaissance IPO ETF (IPO)

IBAT

iShares Energy Storage & Materials ETF

IBAT Description

The index measures the performance of equity securities of companies involved in energy storage solutions aiming to support the transition to a low carbon economy, including hydrogen, fuel cells, and batteries as determined by STOXX Ltd. The fund generally will invest at least 90% of its assets in the component securities of its index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.39

Average Daily Volume

352

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IPO

Renaissance IPO ETF

IPO Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$45.56

Average Daily Volume

29,456

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IBAT	IPO
30 Days	-2.72%	2.13%
60 Days	-5.60%	6.15%
90 Days	-3.88%	8.19%
12 Months		37.53%

1 Overlapping Holdings

	Symbol	Grade	Weight in IBAT	Weight in IPO	Overlap
	FLNC	D	0.84%	0.8%	0.8%

IBAT Overweight 13 Positions Relative to IPO

Symbol	Grade	Weight
APD	A	7.15%
ETN	A	3.68%
LIN	C	2.99%
BE	B	2.84%
ENPH	F	2.74%
ENS	F	2.55%
DOW	F	1.21%
QS	F	1.08%
PLUG	F	0.98%
SEDG	F	0.4%
CHPT	F	0.29%
FCEL	B	0.07%
STEM	F	0.04%

IBAT Underweight 16 Positions Relative to IPO

Symbol	Grade	Weight
NU	C	-9.95%
KVUE	A	-9.28%
ARM	F	-8.6%
RIVN	F	-6.46%
CRBG	B	-5.74%
GTLB	B	-4.71%
TPG	A	-3.62%
HCP	B	-3.13%
GFS	C	-2.72%
RDDT	A	-2.19%
RBRK	A	-1.62%
BRZE	C	-1.56%
INFA	D	-1.34%
BIRK	D	-1.15%
BLCO	B	-0.52%
ZK	D	-0.4%