IPO vs. BRAZ ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Global X Brazil Active ETF (BRAZ)

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

$44.53

Average Daily Volume

24,512

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BRAZ

Global X Brazil Active ETF

BRAZ Description

The fund is an actively managed exchange traded fund ("ETF") advised by Global X Management Company LLC (the "Adviser") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, measured at the time of purchase, in equity securities: (i) of issuers domiciled in Brazil; and/or (ii) that are tied economically to Brazil. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.15

Average Daily Volume

288

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	BRAZ
30 Days	-0.16%	-3.09%
60 Days	2.57%	-8.61%
90 Days	9.41%	-10.69%
12 Months	34.62%	-13.81%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in BRAZ	Overlap
	NU	C	9.95%	9.62%	9.62%

IPO Overweight 16 Positions Relative to BRAZ

Symbol	Grade	Weight
KVUE	A	9.28%
ARM	F	8.6%
RIVN	F	6.46%
CRBG	B	5.74%
GTLB	C	4.71%
TPG	A	3.62%
HCP	B	3.13%
GFS	C	2.72%
RDDT	A	2.19%
RBRK	B	1.62%
BRZE	C	1.56%
INFA	D	1.34%
BIRK	D	1.15%
FLNC	D	0.8%
BLCO	B	0.52%
ZK	C	0.4%

IPO Underweight 11 Positions Relative to BRAZ

Symbol	Grade	Weight
PBR	C	-10.24%
ITUB	D	-8.52%
VALE	F	-6.86%
BBD	D	-4.91%
ASAI	F	-3.75%
EBR	F	-3.34%
SUZ	B	-2.8%
ARCO	D	-2.09%
ELP	F	-1.94%
ABEV	F	-1.89%
MELI	D	-1.22%