IPO vs. FPXI ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to First Trust International IPO ETF (FPXI)

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

FPXI

First Trust International IPO ETF

FPXI Description

The investment seeks investment results that correspond generally to the price andyield (before the fund's fees and expenses) of an index called the IPOXInternational Index. The fund will normally invest at least 90% of its net assets (plus the amount ofany borrowings for investment purposes) in common stocks and/or depositaryreceipts that comprise the index. The index is a market-cap weightedportfolio measuring the performance of the top 50 non-U.S. companies, includingcompanies domiciled in emerging markets, ranked quarterly by marketcapitalization in the IPOX(R) Global Composite Index (the "Base Index"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$49.10

Average Daily Volume

8,555

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FPXI
30 Days	2.13%	0.87%
60 Days	6.15%	2.23%
90 Days	8.19%	0.43%
12 Months	37.53%	23.08%

2 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in FPXI	Overlap
	ARM	F	8.6%	6.45%	6.45%
	NU	C	9.95%	4.21%	4.21%

IPO Overweight 15 Positions Relative to FPXI

Symbol	Grade	Weight
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%
BIRK	D	1.15%
FLNC	D	0.8%
BLCO	B	0.52%
ZK	D	0.4%

IPO Underweight 11 Positions Relative to FPXI

Symbol	Grade	Weight
SPOT	B	-6.48%
MNDY	C	-4.62%
GEN	B	-3.66%
SN	D	-2.66%
NVO	F	-2.14%
ONON	A	-2.09%
RBA	A	-1.71%
CPNG	D	-1.55%
TCOM	B	-1.45%
TEVA	C	-0.94%
VIST	B	-0.29%