IPO vs. FLN ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to First Trust Latin America AlphaDEX Fund (FLN)

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

$41.96

Average Daily Volume

53,038

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FLN

First Trust Latin America AlphaDEX Fund

FLN Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Latin America Index. The fund normally invests at least 90% of its net assets plus the amount of any borrowings for investment purposes in stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Latin America BMI Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$17.98

Average Daily Volume

7,353

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FLN
30 Days	0.48%	-0.06%
60 Days	13.34%	6.73%
90 Days	3.54%	1.93%
12 Months	32.04%	3.62%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in FLN	Overlap
	NU	D	10.11%	4.56%	4.56%

IPO Overweight 16 Positions Relative to FLN

Symbol	Grade	Weight
KVUE	C	9.95%
ARM	C	9.79%
RIVN	F	6.83%
CRBG	C	5.16%
GTLB	D	4.41%
TPG	C	3.46%
HCP	B	3.35%
GFS	F	2.69%
BRZE	F	1.5%
BIRK	F	1.38%
RBRK	F	1.31%
RDDT	C	1.19%
INFA	D	1.16%
FLNC	C	0.95%
BLCO	C	0.54%
ZK	C	0.27%

IPO Underweight 7 Positions Relative to FLN

Symbol	Grade	Weight
ERJ	C	-4.89%
BRFS	C	-4.16%
GGB	C	-3.29%
VALE	C	-2.55%
PAGS	F	-1.89%
BAP	B	-1.58%
STNE	F	-0.51%