Renaissance IPO ETF
ALTAR
Score™		 3.2% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 27.9x P/Sales
ratio		 4.3x
P/BV
ratio		 5.1x Div.
yield		 0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Renaissance IPO ETF is an exchange-traded fund incorporated in the USA. The ETF provides investors with efficient exposure to a portfolio of newly public companies prior to their inclusion in core U.S. equity portfolios. The ETF tracks the rules-based Renaissance IPO Index designed by leading IPO research firm Renaissance Capital.

FUND BASICS
Category US Equities
Fund Sponsor Renaissance Capital LLC
Website www.renaissancecapital.com
Inception date Oct 16, 2013
Assets (mns) $152
Currency USD
Expense ratio 60 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 32
Wgt avg mkt cap (mns) $28,940
Large cap (>$10bn) 61.3%
Mid cap ($2-10bn) 21.0%
Small cap (<$2bn) 0.0%
Developed mkts 86.9%
Emerging mkts 13.1%

TOP TEN HOLDINGS
CREDO TECHNOLOGY GROUP HOLDING LTD 14.7 %
ARM HOLDINGS PLC 10.7 %
KENVUE, INC. 9.9 %
NEXTRACKER, INC. CLASS A 8.2 %
KASPI.KZ JSC SPONSORED GDR REGS 6.0 %
COREBRIDGE FINANCIAL INC 5.8 %
REDDIT INC-CL A 5.5 %
ASTERA LABS INC 5.3 %
CAVA GROUP INC 4.6 %
MAPLEBEAR INC 4.2 %
Total 74.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 60.5 %
BRITAIN 10.7 %
KAZAKHSTAN 6.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
12.3% 9.4% -0.7% 8.8% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 1.65 60%
MSCI EAFE 0.71 15%
MSCI Emg. Mkts. 0.72 18%

Technical Indicators
Recent close $47.92
30d moving avg. $49.77
Annualized volatility 27.5%
Short interest (ETF) 3.9%
Short interest (Underlying) 6.1%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 93
Turnover 2.9%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $1,335

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 425 potential alternatives to the Renaissance IPO ETF ETF based on the alternatives' overlap in portfolio holdings with IPO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IPO Expense: 60 bp ALTAR Score™: 3.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPO
Ticker Fund
Name		 Overlap1
vs IPO
(%)		 Expense
ratio
(bp)		 Savings
vs IPO
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPO
(%)
SPRX Spear Alpha ETF 16.3 75 -15 0.9 -2.3
NBDS Neuberger Berman Disrupters ETF 9.2 55 5 0.7 -2.5
TAN Invesco Solar ETF 8.2 67 -7 5.4 +2.2
FPXI First Trust International Equity Opportunities ETF 7.9 70 -10 4.2 +1.0
FPX First Trust US Equity Opportunities ETF 7.4 61 -1 1.0 -2.3
CTEC Global X CleanTech ETF 6.8 50 10 0.5 -2.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 6.8 70 -10 3.9 +0.7
ICLN iShares Global Clean Energy ETF 6.6 41 19 2.9 -0.3
WTAI WisdomTree Artificial Intelligence and Innovation Fund 6.6 45 15 2.4 -0.9
LOUP Innovator Deepwater Frontier Tech ETF 6.4 70 -10 1.2 -2.1
TMAT Main Thematic Innovation ETF 6.1 164 -104 -1.5 -4.7
CHAT Roundhill Generative AI & Technology ETF 6.0 75 -15 7.1 +3.8
ACES ALPS Clean Energy ETF 5.7 55 5 -2.5 -5.7
FRNW Fidelity Clean Energy ETF 5.7 39 21 2.1 -1.1
TRFK Pacer Data and Digital Revolution ETF 5.6 60 0 2.7 -0.5
VCLN Virtus Duff & Phelps Clean Energy ETF 5.6 59 1 3.8 +0.6
SOCL Global X Social Media ETF 5.5 65 -5 10.7 +7.5
CHPX Global X AI Semiconductor & Quantum ETF 5.3 50 10 3.0 -0.2
WAR U.S. Global Tech and Aerospace & Defense ETF 5.3 60 0 5.0 +1.8
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF 5.0 49 11 4.7 +1.5
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 4.8 58 2 -1.8 -5.1
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 4.1 86 -26 0.4 -2.8
IDGT iShares U.S. Digital Infrastructure and Real Estate ETF 4.1 41 19 5.5 +2.2
BEDZ AdvisorShares Hotel ETF 4.0 100 -40 7.5 +4.3
FXL First Trust Technology AlphaDEX Fund 3.9 61 -1 5.7 +2.4
AIS VistaShares Artificial Intelligence Supercycle ETF 3.7 75 -15 2.4 -0.9
SFYX SoFi Next 500 ETF 3.6 0 60 6.0 +2.8
USRD Themes US R&D Champions ETF 3.6 29 31 4.6 +1.4
JHSC John Hancock Multifactor Small Cap ETF 3.5 42 18 6.8 +3.6
CBSE Clough Select Equity ETF 3.4 85 -25 0.7 -2.5
SIXG Defiance Connective Technologies ETF 3.4 30 30 3.8 +0.6
FCTR First Trust Lunt U.S. Factor Rotation ETF 3.4 65 -5 2.3 -1.0
LRNZ TrueShares Technology, AI & Deep Learning ETF 3.3 69 -9 -0.8 -4.0
MVAL VanEck Morningstar Wide Moat Value ETF 3.3 49 11 7.2 +4.0
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 3.2 60 0 6.1 +2.9
LBO WHITEWOLF Publicly Listed Private Equity ETF 3.2 70 -10 9.7 +6.5
SOXQ Invesco PHLX Semiconductor ETF 3.1 19 41 3.6 +0.4
DAT ProShares Big Data Refiners ETF 3.1 58 2 2.5 -0.7
WCBR WisdomTree Cybersecurity Fund 3.1 45 15 1.9 -1.4
BUG Global X Cybersecurity ETF 3.1 51 9 2.5 -0.8
HACK ETFMG Prime Cyber Security ETFMG Prime Cyber Security Fund 3.0 60 0 3.0 -0.3
TBG TBG Dividend Focus ETF 3.0 59 1 7.9 +4.7
CNRG SPDR S&P Kensho Clean Power ETF 2.9 45 15 1.4 -1.8
OGIG ALPS O'Shares Global Internet Giants ETF 2.9 48 12 2.1 -1.1
DIVZ TrueShares Low Volatility Equity Income ETF 2.9 65 -5 6.7 +3.4
PSI Invesco Semiconductors ETF 2.9 57 3 3.3 +0.1
VERS ProShares Metaverse ETF 2.8 58 2 0.1 -3.1
BPAY BlackRock Future Financial and Technology ETF 2.8 70 -10 6.4 +3.2
GVIP Goldman Sachs Hedge Industry VIP ETF 2.8 45 15 3.2 -0.1
SOXX iShares Semiconductor ETF 2.8 35 25 3.8 +0.6
DIVY Sound Equity Dividend Income ETF 2.6 45 15 10.2 +7.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.6 57 3 3.8 +0.6
TRFM AAM Transformers ETF 2.5 49 11 1.2 -2.0
FTC First Trust Large Cap Growth AlphaDEX Fund 2.5 59 1 2.0 -1.3
XITK SPDR FactSet Innovative Technology ETF 2.4 45 15 -0.1 -3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.4 86 -26 13.2 +10.0
XNTK SPDR NYSE Technology ETF 2.4 35 25 3.5 +0.2
RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF 2.3 40 20 7.6 +4.4
XSD SPDR S&P Semiconductor ETF 2.3 35 25 3.7 +0.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 2.3 70 -10 2.1 -1.1
AIVC Amplify Bloomberg AI Value Chain ETF 2.3 59 1 5.4 +2.2
IWO iShares Russell 2000 Growth ETF 2.3 24 36 0.8 -2.4
VTWG Vanguard Russell 2000 Growth ETF 2.3 10 50 1.0 -2.3
PTF Invesco Dorsey Wright Technology Momentum ETF 2.2 60 0 -1.1 -4.3
CIBR First Trust NASDAQ Cybersecurity ETF 2.2 60 0 4.1 +0.9
MID American Century Mid Cap Growth Impact ETF 2.1 45 15 3.4 +0.2
SMOG VanEck Low Carbon Energy ETF 2.1 61 -1 1.5 -1.8
VAMO Cambria Value & Momentum ETF 2.1 61 -1 6.4 +3.2
ERTH Invesco MSCI Sustainable Future ETF 2.0 62 -2 3.3 +0.1
LYLD Cambria Large Cap Shareholder Yield ETF 2.0 59 1 10.0 +6.8
ROE Astoria US Quality Kings ETF 2.0 49 11 6.8 +3.6
DTCR Global X Data Center & Digital Infrastructure ETF 2.0 50 10 3.6 +0.3
METV Roundhill Ball Metaverse ETF 2.0 59 1 8.7 +5.5
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 2.0 95 -35 0.2 -3.0
FAD First Trust Multi Cap Growth AlphaDEX Fund 1.9 64 -4 1.1 -2.1
XLP Consumer Staples Select Sector SPDR Fund 1.9 8 52 6.5 +3.3
QMOM Alpha Architect U.S. Quantitative Momentum ETF 1.9 39 21 2.8 -0.5
SFLO VictoryShares Small Cap Free Cash Flow ETF 1.8 49 11 11.2 +8.0
DTEC ALPS Disruptive Technologies ETF 1.8 50 10 3.6 +0.4
MOAT VanEck Morningstar Wide Moat ETF 1.8 46 14 6.3 +3.1
PBW Invesco WilderHill Clean Energy ETF 1.8 66 -6 -3.1 -6.3
OPTZ Optimize Strategy Index ETF 1.8 50 10 4.7 +1.5
SSPX Janus Henderson U.S. Sustainable Equity ETF 1.8 55 5 4.2 +1.0
BDIV AAM Brentview Dividend Growth ETF 1.7 49 11 4.6 +1.4
VBK Vanguard Small-Cap Growth ETF 1.6 7 53 1.8 -1.5
FBCV Fidelity Blue Chip Value ETF 1.6 59 1 7.5 +4.3
XMHQ Invesco S&P MidCap Quality ETF 1.6 25 35 6.7 +3.5
TPHD Timothy Plan High Dividend Stock ETF 1.6 52 8 7.3 +4.1
CHGX AXS Change Finance ESG ETF 1.6 49 11 5.2 +2.0
TPHE Timothy Plan High Dividend Stock Enhanced ETF 1.6 54 6 7.3 +4.1
ABLG Abacus FCF International Leaders ETF 1.6 59 1 6.5 +3.3
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 1.5 9 51 4.0 +0.7
FLV American Century Focused Large Cap Value ETF 1.5 42 18 7.0 +3.7
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF 1.5 35 25 7.9 +4.7
FXG First Trust Consumer Staples AlphaDEX Fund 1.5 63 -3 8.8 +5.6
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF 1.5 38 22 7.9 +4.7
SKYY First Trust Cloud Computing ETF 1.5 60 0 2.8 -0.4
STXM Strive Mid-Cap ETF 1.5 18 42 6.5 +3.3
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.5 65 -5 1.8 -1.4
FXD First Trust Consumer Discretionary AlphaDEX Fund 1.4 61 -1 7.6 +4.4
FEX First Trust Large Cap Core AlphaDEX Fund 1.4 59 1 5.9 +2.7
FCLD Fidelity Cloud Computing ETF 1.4 39 21 3.2 +0.0
IYK iShares U.S. Consumer Staples ETF 1.4 40 20 6.8 +3.5
FESM Fidelity Enhanced Small Cap ETF 1.4 28 32 6.9 +3.7
WCLD WisdomTree Cloud Computing Fund 1.3 45 15 1.7 -1.6
FXO First Trust Financials AlphaDEX Fund 1.3 62 -2 8.4 +5.2
IWM iShares Russell 2000 ETF 1.3 19 41 4.2 +1.0
DVLU First Trust Dorsey Wright Momentum & Value ETF 1.3 60 0 6.3 +3.1
VTWO Vanguard Russell 2000 ETF 1.3 7 53 4.3 +1.0
RSSL Global X Russell 2000 ETF 1.3 8 52 4.1 +0.9
PSC Principal U.S. Small-Cap ETF 1.3 38 22 6.9 +3.7
TMFX Motley Fool Next Index ETF 1.3 50 10 3.2 0.0
QTUM Defiance Quantum ETF 1.3 40 20 5.1 +1.9
FCOM Fidelity MSCI Communication Services Index ETF 1.3 8 52 4.7 +1.5
SFYF SoFi Social 50 ETF 1.2 29 31 0.9 -2.3
CCSO Carbon Collective Climate Solutions US Equity ETF 1.2 35 25 1.2 -2.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 1.2 4 56 6.0 +2.8
FSTA FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF 1.2 8 52 6.2 +3.0
BUZZ VanEck Social Sentiment ETF 1.2 75 -15 -1.0 -4.2
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.2 35 25 6.4 +3.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 1.2 7 53 5.8 +2.6
FNX First Trust Mid Cap Core AlphaDEX Fund 1.2 60 0 7.0 +3.8
IGPT Invesco AI and Next Gen Software ETF 1.2 60 0 4.1 +0.9
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.2 58 2 4.5 +1.2
SHOC Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF 1.1 40 20 3.0 -0.2
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.1 75 -15 7.7 +4.5
ABFL Abacus FCF Leaders ETF 1.1 59 1 4.9 +1.7
SDY SPDR S&P Dividend ETF 1.1 35 25 6.9 +3.7
ARKW ARK Next Generation Internet ETF 1.1 87 -27 0.6 -2.6
VOX Vanguard Communication Services ETF 1.1 9 51 4.9 +1.6
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.1 35 25 4.1 +0.9
NULV Nuveen ESG Large-Cap Value ETF 1.1 26 34 6.4 +3.2
FDVV Fidelity High Dividend ETF 1.1 15 45 7.7 +4.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 1.1 60 0 7.7 +4.5
KBE SPDR S&P Bank ETF 1.0 35 25 10.1 +6.9
SMLF iShares U.S. SmallCap Equity Factor ETF 1.0 15 45 6.0 +2.8
VDC Vanguard Consumer Staples ETF 1.0 9 51 6.2 +3.0
IJJ iShares S&P Mid-Cap 400 Value ETF 1.0 18 42 8.8 +5.6
GXPS Global X PureCap MSCI Consumer Staples ETF 1.0 25 35 5.7 +2.4
SMOT VanEck Morningstar SMID Moat ETF 1.0 49 11 6.9 +3.6
BFOR ALPS Barron's 400 ETF 1.0 65 -5 6.0 +2.8
FBCG Fidelity Blue Chip Growth ETF 1.0 59 1 2.8 -0.4
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 1.0 60 0 6.6 +3.4
MDYV SPDR S&P 400 Mid Cap Value ETF 1.0 15 45 8.8 +5.6
HGRO Hedgeye Quality Growth ETF 1.0 70 -10 3.3 +0.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 1.0 10 50 8.9 +5.7
SYLD Cambria Shareholder Yield ETF 1.0 59 1 12.9 +9.6
CSMD Congress SMid Growth ETF 0.9 69 -9 3.6 +0.4
KNCT Invesco Next Gen Connectivity ETF 0.9 40 20 4.5 +1.3
VXF Vanguard Extended Market ETF 0.9 5 55 4.7 +1.5
MADE iShares U.S. Manufacturing ETF 0.9 40 20 4.8 +1.6
GVLU Gotham 1000 Value ETF 0.9 50 10 9.1 +5.9
FFLC Fidelity Fundamental Large Cap Core ETF 0.9 38 22 4.5 +1.3
QDIV Global X S&P 500 Quality Dividend ETF 0.9 20 40 9.1 +5.9
BKWO BNY Mellon Women's Opportunities ETF 0.9 50 10 3.7 +0.5
HELX Franklin Genomic Advancements ETF 0.9 50 10 -0.4 -3.6
HTEC ROBO Global Healthcare Technology and Innovation ETF 0.9 68 -8 2.3 -0.9
FXH First Trust Health Care AlphaDEX Fund 0.9 62 -2 8.1 +4.9
BBH VanEck Biotech ETF 0.9 35 25 5.5 +2.3
HEAL Global X HealthTech ETF 0.9 50 10 -0.6 -3.9
FFTY Innovator IBD 50 ETF 0.9 80 -20 -2.4 -5.6
WDNA WisdomTree BioRevolution Fund 0.9 45 15 -2.3 -5.5
FTXL First Trust Nasdaq Semiconductor ETF 0.9 60 0 4.4 +1.2
NANC Unusual Whales Subversive Democratic Trading ETF 0.9 75 -15 3.5 +0.3
HDUS Hartford Disciplined US Equity ETF 0.9 19 41 5.7 +2.5
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.8 25 35 8.0 +4.8
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 0.8 30 30 6.8 +3.5
SPYD SPDR Portfolio S&P 500 High Dividend ETF 0.8 7 53 11.2 +8.0
EZM WisdomTree U.S. MidCap Fund 0.8 38 22 8.9 +5.6
HLGE Hartford Longevity Economy ETF 0.8 44 16 6.2 +3.0
ISCG iShares Morningstar Small-Cap Growth ETF 0.8 6 54 2.9 -0.3
MOTG VanEck Morningstar Global Wide Moat ETF 0.8 52 8 8.6 +5.4
IWP iShares Russell Mid-Cap Growth ETF 0.8 23 37 3.3 +0.1
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 0.8 15 45 9.1 +5.9
FDG American Century Focused Dynamic Growth ETF 0.8 45 15 2.0 -1.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.8 39 21 5.7 +2.5
KXI iShares Global Consumer Staples ETF 0.7 41 19 5.9 +2.6
PDP Invesco Dorsey Wright Momentum ETF 0.7 62 -2 1.9 -1.3
VFMO Vanguard U.S. Momentum Factor ETF 0.7 13 47 3.0 -0.2
VOE Vanguard Mid-Cap Value ETF 0.7 7 53 7.9 +4.7
VB Vanguard Small-Cap ETF 0.7 5 55 6.2 +3.0
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.7 17 43 5.9 +2.7
ULVM VictoryShares US Value Momentum ETF 0.7 20 40 7.4 +4.2
FDRR Fidelity Dividend ETF for Rising Rates 0.7 15 45 6.9 +3.7
DURA VanEck Durable High Dividend ETF 0.7 29 31 7.6 +4.4
NUDV Nuveen ESG Dividend ETF 0.7 26 34 7.7 +4.5
XDAT Franklin Exponential Data ETF 0.7 50 10 2.3 -1.0
ISCB iShares Morningstar Small-Cap ETF 0.7 4 56 6.2 +3.0
XT iShares Exponential Technologies ETF 0.6 46 14 4.5 +1.3
RAYD Rayliant Quantitative Developed Market Equity ETF 0.6 80 -20 4.4 +1.2
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.6 52 8 5.7 +2.5
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.6 58 2 5.7 +2.4
FQAL Fidelity Quality Factor ETF 0.6 15 45 5.7 +2.5
IMCV iShares Morningstar Mid-Cap Value ETF 0.6 6 54 8.3 +5.1
QUVU Hartford Quality Value ETF 0.6 46 14 7.5 +4.3
CLNR IQ Cleaner Transport ETF 0.6 45 15 5.0 +1.8
FLDZ RiverNorth Patriot ETF 0.6 75 -15 6.4 +3.2
VUSE Vident U.S. Equity Strategy ETF 0.6 50 10 4.3 +1.1
HDV iShares Core High Dividend ETF 0.6 8 52 7.3 +4.1
DHS WisdomTree U.S. High Dividend Fund 0.6 38 22 8.4 +5.1
VO Vanguard Mid-Cap ETF 0.6 4 56 6.0 +2.8
FFOX FundX Future Fund Opportunities ETF 0.6 100 -40 4.1 +0.9
FTXH First Trust Nasdaq Pharmaceuticals ETF 0.6 60 0 8.8 +5.6
XJH iShares ESG Screened S&P Mid-Cap ETF 0.5 12 48 7.3 +4.1
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF 0.5 55 5 10.3 +7.1
QNXT iShares Nasdaq-100 ex Top 30 ETF 0.5 20 40 4.7 +1.5
TXS Texas Capital Texas Equity Index ETF 0.5 49 11 5.9 +2.7
PTL Inspire 500 ETF 0.5 9 51 5.3 +2.1
ISCV iShares Morningstar Small Cap Value ETF 0.5 6 54 9.5 +6.2
MDY SPDR S&P Midcap 400 ETF Trust 0.5 24 36 7.2 +3.9
IJH iShares Core S&P Mid-Cap ETF 0.5 5 55 7.4 +4.1
BKSE BNY Mellon US Small Cap Core Equity ETF 0.5 4 56 5.9 +2.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.5 20 40 5.6 +2.3
SIZE iShares MSCI USA Size Factor ETF 0.5 15 45 6.1 +2.9
IVOO Vanguard S&P Mid-Cap 400 ETF 0.5 7 53 7.4 +4.2
SPMD SPDR Portfolio S&P 400 Mid Cap ETF 0.5 3 57 7.4 +4.1
DFLV Dimensional US Large Cap Value ETF 0.5 22 38 7.7 +4.5
RSPE Invesco ESG S&P 500 Equal Weight ETF 0.5 20 40 6.6 +3.4
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.4 15 45 6.1 +2.9
ANEW ProShares MSCI Transformational Changes ETF 0.4 45 15 5.2 +1.9
IMCB iShares Morningstar Mid-Cap ETF 0.4 4 56 6.2 +3.0
ICAP InfraCap Equity Income Fund ETF 0.4 171 -111 4.8 +1.6
IWR iShares Russell Midcap ETF 0.4 19 41 6.3 +3.1
HKND Humankind US Stock ETF 0.4 11 49 7.3 +4.0
DFSU Dimensional US Sustainability Core 1 ETF 0.4 18 42 5.3 +2.1
AFSM First Trust Active Factor Small Cap ETF 0.4 75 -15 7.4 +4.2
DFUV Dimensional US Marketwide Value ETF 0.4 22 38 7.6 +4.3
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 0.4 15 45 7.4 +4.2
SHUS Syntax Stratified U.S. Total Market Hedged ETF 0.4 65 -5 6.5 +3.2
SSPY Syntax Stratified LargeCap ETF 0.4 30 30 6.8 +3.6
GXPC Global X PureCap MSCI Communication Services ETF 0.4 25 35 4.9 +1.6
AVMV Avantis U.S. Mid Cap Value ETF 0.4 20 40 9.1 +5.9
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -29 5.0 +1.8
FVD First Trust Value Line Dividend Index Fund 0.4 65 -5 6.4 +3.1
FTEC Fidelity MSCI Information Technology Index ETF 0.4 8 52 3.8 +0.6
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF 0.4 50 10 8.8 +5.6
AFMC First Trust Active Factor Mid Cap ETF 0.4 65 -5 8.3 +5.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.4 39 21 6.4 +3.2
JMOM JPMorgan U.S. Momentum Factor ETF 0.4 12 48 4.5 +1.3
FUNL CornerCap Fundametrics Large-Cap ETF 0.3 50 10 7.3 +4.0
SPHQ Invesco S&P 500 Quality ETF 0.3 15 45 5.6 +2.4
CFA VictoryShares US 500 Volatility Wtd ETF 0.3 35 25 6.1 +2.9
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.3 40 20 6.0 +2.8
VOT Vanguard Mid-Cap Growth ETF 0.3 7 53 3.4 +0.2
FTA First Trust Large Cap Value AlphaDEX Fund 0.3 59 1 9.1 +5.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.3 18 42 7.9 +4.7
DCOR Dimensional US Core Equity 1 ETF 0.3 14 46 5.4 +2.2
ONEQ Fidelity Nasdaq Composite Index ETF 0.3 21 39 3.6 +0.4
DEUS Xtrackers Russell US Multifactor ETF 0.3 17 43 6.9 +3.7
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.3 10 50 5.2 +1.9
DFAC Dimensional U.S. Core Equity 2 ETF 0.3 17 43 5.5 +2.3
EBI Longview Advantage ETF 0.3 35 25 6.7 +3.5
IGM iShares Expanded Tech Sector ETF 0.3 41 19 3.7 +0.4
IWS iShares Russell Mid-Cap Value ETF 0.3 23 37 7.3 +4.0
AVMC Avantis U.S. Mid Cap Equity ETF 0.3 18 42 6.9 +3.7
QGRO American Century U.S. Quality Growth ETF 0.3 29 31 3.7 +0.4
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.3 40 20 3.8 +0.6
GINN Goldman Sachs Innovate Equity ETF 0.3 52 8 3.6 +0.3
VFQY Vanguard U.S. Quality Factor ETF 0.3 13 47 6.2 +3.0
EUSA iShares MSCI USA Equal Weighted ETF 0.3 9 51 6.3 +3.1
DXUV Dimensional US Vector Equity ETF 0.3 28 32 6.1 +2.9
VFMF Vanguard U.S. Multifactor ETF 0.3 18 42 7.9 +4.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.3 24 36 8.3 +5.1
IMCG iShares Morningstar Mid-Cap Growth ETF 0.3 6 54 4.1 +0.9
JHMM John Hancock Multifactor Mid Cap ETF 0.3 42 18 6.3 +3.1
DFAS Dimensional U.S. Small Cap ETF 0.3 26 34 6.7 +3.5
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.3 25 35 5.5 +2.3
ROUS Hartford Multifactor US Equity ETF 0.3 19 41 6.9 +3.7
CLOD Themes Cloud Computing ETF 0.3 35 25 3.4 +0.2
DIVN Horizon Dividend Income ETF 0.3 70 -10 8.0 +4.8
DFAU Dimensional US Core Equity Market ETF 0.3 12 48 5.0 +1.8
OALC OneAscent Large Cap Core ETF 0.3 86 -26 4.0 +0.8
XMAG Defiance Large Cap ex-Mag 7 ETF 0.2 35 25 5.2 +1.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 21 4.3 +1.1
FSMD Fidelity Small-Mid Multifactor ETF 0.2 15 45 7.0 +3.8
AVLV Avantis U.S. Large Cap Value ETF 0.2 15 45 7.9 +4.7
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 49 4.8 +1.6
STXG Strive 1000 Growth ETF 0.2 18 42 3.8 +0.6
DFVX Dimensional US Large Cap Vector ETF 0.2 22 38 6.3 +3.1
VIS Vanguard Industrials ETF 0.2 9 51 4.5 +1.3
VGT Vanguard Information Technology ETF 0.2 9 51 3.8 +0.6
DFUS Dimensional U.S. Equity ETF 0.2 9 51 4.7 +1.5
GVUS Marketbeta Russell 1000 Value Equity ETF 0.2 12 48 6.6 +3.4
PRXV Praxis Impact Large Cap Value ETF 0.2 36 24 6.8 +3.5
STXV Strive 1000 Value ETF 0.2 18 42 8.3 +5.1
AVSU Avantis Responsible U.S. Equity ETF 0.2 15 45 5.8 +2.6
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 40 7.2 +4.0
IWN iShares Russell 2000 Value ETF 0.2 24 36 7.8 +4.5
VTWV Vanguard Russell 2000 Value ETF 0.2 10 50 7.9 +4.6
FELG Fidelity Enhanced Large Cap Growth ETF 0.2 18 42 4.6 +1.4
DLN WisdomTree U.S. LargeCap Dividend Fund 0.2 28 32 6.0 +2.8
CCMG CCM Global Equity ETF 0.2 34 26 8.3 +5.1
DTD WisdomTree U.S. Total Dividend Fund 0.2 28 32 6.4 +3.2
KOMP SPDR S&P Kensho New Economies Composite ETF 0.2 20 40 2.7 -0.5
FIDU Fidelity MSCI Industrial Index ETF 0.2 8 52 4.4 +1.2
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 51 4.7 +1.5
STRV Strive 500 ETF 0.2 5 55 4.7 +1.5
XOEF iShares S&P 500 ex S&P 100 ETF 0.2 20 40 5.7 +2.5
DON WisdomTree U.S. MidCap Dividend Fund 0.2 38 22 9.3 +6.1
AVUQ Avantis U.S. Quality ETF 0.2 15 45 4.3 +1.1
VYM Vanguard High Dividend Yield Index ETF 0.2 6 54 7.2 +3.9
SMDX Intech S&P Small-Mid Cap Divers Alp ETF 0.2 35 25 7.1 +3.9
DEW WisdomTree Global High Dividend Fund 0.2 58 2 8.4 +5.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 0.2 19 41 6.3 +3.1
IYW iShares U.S. Technology ETF 0.2 40 20 3.7 +0.5
RSP Invesco S&P 500 Equal Weight ETF 0.2 20 40 6.8 +3.6
ONEO SPDR Russell 1000 Momentum Focus ETF 0.2 20 40 6.8 +3.6
FAB First Trust Multi Cap Value AlphaDEX Fund 0.2 67 -7 10.2 +7.0
VTV Vanguard Value ETF 0.2 4 56 6.9 +3.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.2 9 51 6.2 +3.0
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 45 4.5 +1.3
IUSV iShares Core S&P US Value ETF 0.2 4 56 6.4 +3.2
VTI Vanguard Total Stock Market ETF 0.2 3 57 4.8 +1.6
VTHR Vanguard Russell 3000 ETF 0.2 7 53 4.8 +1.6
RWK Invesco S&P MidCap 400 Revenue ETF 0.2 39 21 9.9 +6.7
AVUS Avantis U.S. Equity ETF 0.2 15 45 5.7 +2.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.2 35 25 6.2 +3.0
IYY iShares Dow Jones U.S. ETF 0.1 20 40 4.7 +1.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.1 3 57 4.8 +1.6
MODL VictoryShares WestEnd U.S. Sector ETF 0.1 42 18 4.6 +1.3
BKLC BNY Mellon US Large Cap Core Equity ETF 0.1 0 60 4.8 +1.6
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.1 9 51 4.8 +1.6
JEPI JPMorgan Equity Premium Income ETF 0.1 35 25 5.8 +2.5
IWV iShares Russell 3000 ETF 0.1 20 40 4.7 +1.5
VLU SPDR S&P 1500 Value Tilt ETF 0.1 12 48 7.4 +4.2
FMDE Fidelity Enhanced Mid Cap ETF 0.1 23 37 5.9 +2.7
GXLC Global X U.S. 500 ETF 0.1 2 58 4.8 +1.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.1 10 50 4.9 +1.7
EVUS iShares ESG Aware MSCI USA Value ETF 0.1 18 42 6.6 +3.3
USXF iShares ESG Advanced MSCI USA ETF 0.1 10 50 4.7 +1.5
THRO iShares U.S. Thematic Rotation Active ETF 0.1 90 -30 4.2 +0.9
ILCV iShares Morningstar Value ETF 0.1 4 56 6.4 +3.2
VONV Vanguard Russell 1000 Value ETF 0.1 7 53 6.6 +3.4
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 0.1 49 11 3.7 +0.5
RVRB Reverb ETF 0.1 30 30 4.5 +1.3
GSPY Gotham Enhanced 500 ETF 0.1 50 10 5.0 +1.8
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF 0.1 5 55 8.1 +4.9
QQQ Invesco QQQ Trust Series I 0.1 20 40 4.0 +0.8
QQQM Invesco NASDAQ 100 ETF 0.1 15 45 4.1 +0.8
IVE iShares S&P 500 Value ETF 0.1 18 42 6.2 +2.9
VOOV Vanguard S&P 500 Value ETF 0.1 7 53 6.2 +3.0
CVLC Calvert US Large-Cap Core Responsible Index ETF 0.1 15 45 4.8 +1.6
EPS WisdomTree U.S. LargeCap Fund 0.1 8 52 5.7 +2.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.1 29 31 6.5 +3.3
SPYV SPDR Portfolio S&P 500 Value ETF 0.1 4 56 6.3 +3.1
HLAL Wahed FTSE USA Shariah ETF 0.1 50 10 4.6 +1.4
PRXG Praxis Impact Large Cap Growth ETF 0.1 36 24 3.6 +0.4
VFH Vanguard Financials ETF 0.1 9 51 6.7 +3.5
DAK Dakota Active Equity ETF 0.1 43 17 4.4 +1.2
SPXT ProShares S&P 500 Ex-Technology ETF 0.1 9 51 5.6 +2.3
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.1 29 31 4.6 +1.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.1 7 53 4.8 +1.5
VONE Vanguard Russell 1000 ETF 0.1 7 53 4.9 +1.7
IWD iShares Russell 1000 Value ETF 0.1 19 41 6.5 +3.3
SHE SPDR MSCI USA Gender Diversity ETF 0.1 20 40 5.1 +1.8
VT Vanguard Total World Stock ETF 0.1 6 54 5.7 +2.5
VEGN US Vegan Climate ETF 0.1 60 0 4.4 +1.2
SUSL iShares ESG MSCI USA Leaders ETF 0.1 10 50 4.9 +1.6
MTUM iShares MSCI USA Momentum Factor ETF 0.1 15 45 3.6 +0.4
JHML John Hancock Multifactor Large Cap ETF 0.1 29 31 5.3 +2.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 51 5.1 +1.8
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 28 5.0 +1.7
VSLU Applied Finance Valuation Large Cap ETF 0.1 49 11 5.5 +2.3
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.1 24 36 7.6 +4.4
APIE ActivePassive International Equity ETF 0.1 45 15 7.1 +3.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.1 45 15 4.3 +1.1
VV Vanguard Large-Cap ETF 0.1 4 56 4.7 +1.5
ILCB iShares Morningstar U.S. Equity ETF 0.1 3 57 4.8 +1.6
IWB iShares Russell 1000 ETF 0.1 15 45 4.8 +1.6
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -5 4.1 +0.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 57 6.7 +3.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 58 4.9 +1.7
VOTE TCW Transform 500 ETF 0.1 5 55 4.8 +1.6
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 51 4.8 +1.6
ONEY SPDR Russell 1000 Yield Focus ETF 0.1 20 40 10.4 +7.2
IWF iShares Russell 1000 Growth ETF 0.1 19 41 4.2 +0.9
VONG Vanguard Russell 1000 Growth ETF 0.1 7 53 4.3 +1.1
KLMN Invesco MSCI North America Climate ETF 0.1 9 51 4.9 +1.7
TOV JLens 500 Jewish Advocacy U.S. ETF 0.1 18 42 4.6 +1.4
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 51 4.7 +1.5
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 51 4.6 +1.4
RWL Invesco S&P 500 Revenue ETF 0.1 39 21 6.8 +3.6
ESGU iShares ESG Aware MSCI USA ETF 0.1 15 45 4.7 +1.4
VUG Vanguard Growth ETF 0.1 4 56 4.0 +0.8
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.1 3 57 5.0 +1.8
QVML Invesco S&P 500 QVM Multi-factor ETF 0.1 11 49 5.0 +1.8
DSPY Tema S&P 500 Historical Weight ETF 0.1 18 42 5.1 +1.9
TOK iShares MSCI Kokusai ETF 0.1 26 34 4.9 +1.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 51 5.5 +2.3
RAUS RACWI US ETF 0.1 15 45 4.8 +1.6
IUS Invesco RAFI Strategic US ETF 0.1 19 41 6.8 +3.6
LRGF iShares U.S. Equity Factor ETF 0.1 8 52 5.4 +2.2
APUE ActivePassive U.S. Equity ETF 0.1 45 15 4.6 +1.4
URTH iShares MSCI World ETF 0.1 24 36 4.9 +1.7
TOPC iShares S&P 500 3% Capped ETF 0.1 15 45 5.1 +1.8
FSST Fidelity Sustainable U.S. Equity ETF 0.1 59 1 4.2 +1.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 40 5.5 +2.2
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.3 +2.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 50 5.5 +2.3
PBUS Invesco MSCI USA ETF 0.1 4 56 4.8 +1.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 40 4.6 +1.4
ILCG iShares Morningstar Growth ETF 0.1 4 56 3.7 +0.5
IVV iShares Core S&P 500 ETF 0.1 3 57 4.9 +1.6
SPY SPDR S&P 500 ETF Trust 0.1 9 51 4.8 +1.6
VOO Vanguard S&P 500 ETF 0.1 3 57 4.9 +1.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 27 9.1 +5.9
FNCL Fidelity MSCI Financials Index ETF 0.1 8 52 6.7 +3.5
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 21 6.8 +3.6
SPXM Azoria 500 Meritocracy ETF 0.0 47 13 4.5 +1.2
AFLG First Trust Active Factor Large Cap ETF 0.0 55 5 6.3 +3.1
INRO iShares U.S. Industry Rotation Active ETF 0.0 42 18 4.4 +1.1
OUSA ALPS O'Shares U.S. Quality Dividend ETF 0.0 48 12 6.3 +3.0
AIEQ AI Powered Equity ETF 0.0 75 -15 4.8 +1.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.0 12 48 3.9 +0.7
PABU iShares Paris-Aligned Climate MSCI USA ETF 0.0 10 50 4.3 +1.1
QUS SPDR MSCI USA StrategicFactors ETF 0.0 15 45 5.7 +2.4
SFY SoFi Select 500 ETF 0.0 0 60 4.3 +1.1
FELV Fidelity Enhanced Large Cap Value ETF 0.0 18 42 6.7 +3.5
LGDX Intech S&P Large Cap Diversified Alpha ETF 0.0 25 35 5.1 +1.9
HAPI Harbor Human Capital Factor US Large Cap ETF 0.0 36 24 4.8 +1.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 8.5 +5.3
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 30 5.8 +2.6
VFVA Vanguard U.S. Value Factor ETF 0.0 13 47 11.0 +7.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 48 5.0 +1.8
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.0 12 48 4.5 +1.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Renaissance IPO ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.9 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.