IPO vs. FPXE ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to First Trust IPOX Europe Equity Opportunities ETF (FPXE)

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

$46.11

Average Daily Volume

29,456

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPXE

First Trust IPOX Europe Equity Opportunities ETF

FPXE Description

The First Trust IPOX® Europe Equity Opportunities ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the IPOX® 100 Europe Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks and/or depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Index is owned, developed, maintained and sponsored by IPOX® Schuster LLC (the "Index Provider").

Grade (RS Rating)

Last Trade

$25.97

Average Daily Volume

490

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FPXE
30 Days	2.13%	-1.03%
60 Days	6.15%	-2.07%
90 Days	8.19%	-2.26%
12 Months	37.53%	24.83%

2 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in FPXE	Overlap
	ARM	F	8.6%	6.58%	6.58%
	BIRK	D	1.15%	0.39%	0.39%

IPO Overweight 15 Positions Relative to FPXE

Symbol	Grade	Weight
NU	C	9.95%
KVUE	A	9.28%
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%
FLNC	D	0.8%
BLCO	B	0.52%
ZK	D	0.4%

IPO Underweight 16 Positions Relative to FPXE

Symbol	Grade	Weight
SPOT	B	-4.59%
MNDY	C	-4.25%
GEN	B	-4.14%
ONON	A	-3.73%
CLBT	B	-1.69%
TEVA	C	-0.87%
MRUS	F	-0.8%
JHG	B	-0.64%
CNTA	B	-0.63%
SPNT	B	-0.43%
IMTX	F	-0.31%
VRNA	B	-0.29%
SRAD	A	-0.22%
GENI	C	-0.16%
OSW	B	-0.09%
DOLE	D	-0.07%