IPO vs. LMBO ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Direxion Daily Crypto Industry Bull 2X Shares (LMBO)

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

$46.12

Average Daily Volume

29,831

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LMBO

Direxion Daily Crypto Industry Bull 2X Shares

LMBO Description

The index seeks to track the performance of US-listed securities that have business operations in the field of distributed ledger or decentralized payment technology. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.75

Average Daily Volume

5,781

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	LMBO
30 Days	5.01%	31.47%
60 Days	7.00%	49.50%
90 Days	9.52%	43.58%
12 Months	39.22%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPO	Weight in LMBO	Overlap
	NU	C	9.95%	5.28%	5.28%

IPO Overweight 16 Positions Relative to LMBO

Symbol	Grade	Weight
KVUE	A	9.28%
ARM	D	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	B	2.19%
RBRK	A	1.62%
BRZE	C	1.56%
INFA	D	1.34%
BIRK	D	1.15%
FLNC	C	0.8%
BLCO	D	0.52%
ZK	D	0.4%

IPO Underweight 20 Positions Relative to LMBO

Symbol	Grade	Weight
PYPL	B	-5.29%
NVDA	C	-5.27%
V	A	-5.22%
MA	C	-4.98%
AMD	F	-4.37%
COIN	C	-4.04%
HOOD	B	-3.61%
IBKR	A	-3.51%
MARA	C	-3.41%
SQ	B	-3.34%
DKNG	B	-3.23%
GLOB	B	-3.12%
FOUR	B	-3.08%
RIOT	C	-2.39%
CLSK	C	-2.35%
WULF	C	-1.76%
CIFR	B	-1.4%
IREN	C	-1.3%
PAGS	F	-1.09%
BTBT	C	-0.43%