Renaissance IPO ETF
ALTAR
Score™		 3.4% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 25.4x P/Sales
ratio		 3.8x
P/BV
ratio		 4.7x Div.
yield		 0.6%


  • 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) $169
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 26
Wgt avg mkt cap (mns) $20,704
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
KENVUE, INC. 12.4 %
ARM HOLDINGS PLC 9.7 %
KASPI.KZ JSC SPONSORED GDR REGS 6.7 %
COREBRIDGE FINANCIAL INC 5.5 %
ASTERA LABS INC 5.3 %
NEXTRACKER, INC. CLASS A 4.9 %
CAVA GROUP INC 4.6 %
CREDO TECHNOLOGY GROUP HOLDING LTD 4.6 %
MAPLEBEAR INC 4.2 %
VIKING HOLDINGS LTD 4.0 %
Total 61.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 35.8 %
BRITAIN 9.7 %
KAZAKHSTAN 6.7 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
5.6% 14.4% 0.8% 6.9% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 1.39 56%
MSCI EAFE 0.81 22%
MSCI Emg. Mkts. 0.86 25%

Technical Indicators
Recent close $50.35
30d moving avg. $47.38
Annualized volatility 28.4%
Short interest (ETF) 5.6%
Short interest (Underlying) 6.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 84
Turnover 2.5%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $1,335

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 379 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™: 3.4%


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
(%)
BOTT Themes Robotics & Automation ETF 9.1 35 25 4.1 +0.7
SPRX Spear Alpha ETF 8.7 75 -15 0.3 -3.1
CHAT Roundhill Generative AI & Technology ETF 7.7 75 -15 9.4 +6.0
FFTY Innovator IBD 50 ETF 6.7 80 -20 -2.4 -5.9
NBDS Neuberger Berman Disrupters ETF 6.4 55 5 0.7 -2.7
FPX First Trust US Equity Opportunities ETF 6.3 61 -1 1.0 -2.4
FPXI First Trust International Equity Opportunities ETF 6.1 70 -10 4.2 +0.7
LOUP Innovator Deepwater Frontier Tech ETF 5.3 70 -10 1.3 -2.2
SIXG Defiance Connective Technologies ETF 5.0 30 30 3.6 +0.2
CTEC Global X CleanTech ETF 4.9 50 10 1.7 -1.8
RAYS Global X Solar ETF 4.9 51 9 6.5 +3.0
TAN Invesco Solar ETF 4.9 67 -7 6.9 +3.4
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 4.6 86 -26 0.4 -3.0
AIS VistaShares Artificial Intelligence Supercycle ETF 4.6 75 -15 3.0 -0.4
IDGT iShares U.S. Digital Infrastructure and Real Estate ETF 4.6 41 19 6.0 +2.6
ACES ALPS Clean Energy ETF 4.5 55 5 -3.5 -7.0
PSI Invesco Semiconductors ETF 4.5 57 3 4.1 +0.6
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 4.4 58 2 -2.3 -5.7
XSD SPDR S&P Semiconductor ETF 4.4 35 25 3.9 +0.4
WTAI WisdomTree Artificial Intelligence and Innovation Fund 4.2 45 15 2.7 -0.7
TRFK Pacer Data and Digital Revolution ETF 3.9 60 0 3.0 -0.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.8 70 -10 4.8 +1.4
ICLN iShares Global Clean Energy ETF 3.8 41 19 5.2 +1.7
FRNW Fidelity Clean Energy ETF 3.4 39 21 3.3 -0.2
LRNZ TrueShares Technology, AI & Deep Learning ETF 3.3 69 -9 -0.6 -4.0
TMAT Main Thematic Innovation ETF 3.3 164 -104 -1.5 -4.9
VCLN Virtus Duff & Phelps Clean Energy ETF 3.3 59 1 5.0 +1.6
FXL First Trust Technology AlphaDEX Fund 3.2 61 -1 5.4 +2.0
SFYX SoFi Next 500 ETF 3.2 0 60 5.7 +2.3
TRFM AAM Transformers ETF 3.1 49 11 1.3 -2.1
BPAY BlackRock Future Financial and Technology ETF 3.1 70 -10 7.5 +4.0
TBG TBG Dividend Focus ETF 3.1 59 1 7.8 +4.4
LBO WHITEWOLF Publicly Listed Private Equity ETF 3.1 70 -10 8.1 +4.7
CBSE Clough Select Equity ETF 3.1 85 -25 0.9 -2.6
SOCL Global X Social Media ETF 3.1 65 -5 8.9 +5.5
TIME Clockwise Core Equity & Innovation ETF 3.1 95 -35 2.9 -0.6
AIVC Amplify Bloomberg AI Value Chain ETF 2.9 59 1 5.5 +2.1
DIVZ TrueShares Low Volatility Equity Income ETF 2.9 65 -5 6.6 +3.2
OPTZ Optimize Strategy Index ETF 2.8 50 10 4.6 +1.1
SFYF SoFi Social 50 ETF 2.8 29 31 0.4 -3.0
DIVY Sound Equity Dividend Income ETF 2.8 45 15 9.5 +6.0
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 2.8 95 -35 0.5 -2.9
ABLG Abacus FCF International Leaders ETF 2.7 59 1 6.9 +3.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.7 86 -26 13.6 +10.1
CHGX AXS Change Finance ESG ETF 2.7 49 11 4.8 +1.3
OGIG ALPS O'Shares Global Internet Giants ETF 2.5 48 12 1.6 -1.9
XLP Consumer Staples Select Sector SPDR Fund 2.5 8 52 6.1 +2.6
RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF 2.5 40 20 7.0 +3.6
CNRG SPDR S&P Kensho Clean Power ETF 2.4 45 15 1.0 -2.4
XITK SPDR FactSet Innovative Technology ETF 2.3 45 15 -0.3 -3.7
XNTK SPDR NYSE Technology ETF 2.3 35 25 3.7 +0.3
LYLD Cambria Large Cap Shareholder Yield ETF 2.2 59 1 9.4 +6.0
MID American Century Mid Cap Growth Impact ETF 2.1 45 15 3.1 -0.3
MVAL VanEck Morningstar Wide Moat Value ETF 2.1 49 11 6.5 +3.1
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.1 57 3 3.8 +0.4
FBCV Fidelity Blue Chip Value ETF 2.1 59 1 7.4 +3.9
FTC First Trust Large Cap Growth AlphaDEX Fund 2.0 59 1 2.7 -0.7
FLV American Century Focused Large Cap Value ETF 1.9 42 18 6.5 +3.1
DTCR Global X Data Center & Digital Infrastructure ETF 1.9 50 10 4.4 +1.0
BDIV AAM Brentview Dividend Growth ETF 1.9 49 11 4.6 +1.2
IYK iShares U.S. Consumer Staples ETF 1.9 40 20 6.4 +2.9
VBK Vanguard Small-Cap Growth ETF 1.9 7 53 1.9 -1.5
IWO iShares Russell 2000 Growth ETF 1.8 24 36 1.3 -2.1
VTWG Vanguard Russell 2000 Growth ETF 1.8 10 50 1.4 -2.0
SOXQ Invesco PHLX Semiconductor ETF 1.7 19 41 4.5 +1.1
TPHD Timothy Plan High Dividend Stock ETF 1.7 52 8 7.0 +3.5
TPHE Timothy Plan High Dividend Stock Enhanced ETF 1.7 54 6 7.0 +3.5
ERTH Invesco MSCI Sustainable Future ETF 1.7 62 -2 3.7 +0.2
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF 1.7 38 22 7.7 +4.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF 1.7 35 25 7.7 +4.3
SDY SPDR S&P Dividend ETF 1.6 35 25 6.6 +3.1
VAMO Cambria Value & Momentum ETF 1.6 61 -1 5.8 +2.3
USRD Themes US R&D Champions ETF 1.6 29 31 4.5 +1.1
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.6 35 25 6.1 +2.6
GVIP Goldman Sachs Hedge Industry VIP ETF 1.6 45 15 3.3 -0.2
FSTA FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF 1.6 8 52 5.8 +2.4
BUZZ VanEck Social Sentiment ETF 1.5 75 -15 -0.4 -3.8
METV Roundhill Ball Metaverse ETF 1.5 59 1 7.8 +4.3
PBW Invesco WilderHill Clean Energy ETF 1.5 66 -6 -3.7 -7.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 1.5 70 -10 2.8 -0.6
FXO First Trust Financials AlphaDEX Fund 1.5 62 -2 8.1 +4.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 1.4 64 -4 2.2 -1.2
TMFX Motley Fool Next Index ETF 1.4 50 10 2.6 -0.9
VDC Vanguard Consumer Staples ETF 1.4 9 51 5.8 +2.4
JHSC John Hancock Multifactor Small Cap ETF 1.4 42 18 6.6 +3.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.4 65 -5 2.1 -1.4
NULV Nuveen ESG Large-Cap Value ETF 1.3 26 34 6.3 +2.8
SMOG VanEck Low Carbon Energy ETF 1.3 61 -1 1.8 -1.7
QDIV Global X S&P 500 Quality Dividend ETF 1.3 20 40 8.6 +5.2
SHOC Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF 1.3 40 20 3.3 -0.2
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 1.3 60 0 7.4 +4.0
SPYD SPDR Portfolio S&P 500 High Dividend ETF 1.2 7 53 9.8 +6.3
QTUM Defiance Quantum ETF 1.2 40 20 5.5 +2.1
MOAT VanEck Morningstar Wide Moat ETF 1.2 46 14 5.7 +2.3
FCTR First Trust Lunt U.S. Factor Rotation ETF 1.2 65 -5 3.5 +0.0
XMHQ Invesco S&P MidCap Quality ETF 1.2 25 35 6.5 +3.0
STXM Strive Mid-Cap ETF 1.2 18 42 6.1 +2.7
FFLC Fidelity Fundamental Large Cap Core ETF 1.1 38 22 4.5 +1.1
BKWO BNY Mellon Women's Opportunities ETF 1.1 50 10 3.6 +0.1
SFLO VictoryShares Small Cap Free Cash Flow ETF 1.1 49 11 11.2 +7.8
IGPT Invesco AI and Next Gen Software ETF 1.1 60 0 4.3 +0.8
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.1 75 -15 7.2 +3.7
FDVV Fidelity High Dividend ETF 1.1 15 45 7.6 +4.1
KXI iShares Global Consumer Staples ETF 1.1 41 19 5.5 +2.1
KBE SPDR S&P Bank ETF 1.0 35 25 9.1 +5.6
SSPX Janus Henderson U.S. Sustainable Equity ETF 1.0 55 5 4.2 +0.8
RSSL Global X Russell 2000 ETF 1.0 8 52 4.4 +0.9
VOE Vanguard Mid-Cap Value ETF 1.0 7 53 7.6 +4.1
IWM iShares Russell 2000 ETF 1.0 19 41 4.3 +0.8
HDUS Hartford Disciplined US Equity ETF 1.0 19 41 5.7 +2.2
VTWO Vanguard Russell 2000 ETF 1.0 7 53 4.3 +0.9
DVLU First Trust Dorsey Wright Momentum & Value ETF 1.0 60 0 7.6 +4.2
VOX Vanguard Communication Services ETF 1.0 9 51 4.6 +1.2
SMLF iShares U.S. SmallCap Equity Factor ETF 1.0 15 45 5.9 +2.4
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 25 4.2 +0.8
FFOX FundX Future Fund Opportunities ETF 0.9 100 -40 4.2 +0.7
FTXL First Trust Nasdaq Semiconductor ETF 0.9 60 0 5.1 +1.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 0.9 58 2 4.2 +0.8
FNX First Trust Mid Cap Core AlphaDEX Fund 0.9 60 0 7.3 +3.8
NUDV Nuveen ESG Dividend ETF 0.9 26 34 7.6 +4.1
CCSO Carbon Collective Climate Solutions US Equity ETF 0.8 35 25 1.0 -2.4
IWP iShares Russell Mid-Cap Growth ETF 0.8 23 37 3.4 -0.1
IMCV iShares Morningstar Mid-Cap Value ETF 0.8 6 54 8.0 +4.6
VB Vanguard Small-Cap ETF 0.8 5 55 6.1 +2.7
VXF Vanguard Extended Market ETF 0.8 5 55 4.7 +1.2
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 0.8 15 45 8.9 +5.5
PSC Principal U.S. Small-Cap ETF 0.8 38 22 6.8 +3.3
XT iShares Exponential Technologies ETF 0.8 46 14 4.9 +1.5
CALF Pacer US Small Cap Cash Cows 100 ETF 0.8 59 1 10.7 +7.3
QUVU Hartford Quality Value ETF 0.7 46 14 7.3 +3.8
FEX First Trust Large Cap Core AlphaDEX Fund 0.7 59 1 5.8 +2.4
FDG American Century Focused Dynamic Growth ETF 0.7 45 15 1.9 -1.5
DHS WisdomTree U.S. High Dividend Fund 0.7 38 22 8.0 +4.6
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.7 52 8 5.5 +2.1
FBCG Fidelity Blue Chip Growth ETF 0.7 59 1 2.8 -0.6
KNCT Invesco Next Gen Connectivity ETF 0.7 40 20 4.8 +1.4
FCOM Fidelity MSCI Communication Services Index ETF 0.7 8 52 4.5 +1.1
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.7 58 2 5.4 +2.0
ISCG iShares Morningstar Small-Cap Growth ETF 0.7 6 54 2.9 -0.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.7 7 53 6.0 +2.6
FDRR Fidelity Dividend ETF for Rising Rates 0.7 15 45 7.0 +3.5
HDV iShares Core High Dividend ETF 0.7 8 52 7.2 +3.7
RND First Trust Bloomberg R&D Leaders ETF 0.7 60 0 3.6 +0.2
SMOT VanEck Morningstar SMID Moat ETF 0.7 49 11 6.4 +3.0
ULVM VictoryShares US Value Momentum ETF 0.7 20 40 7.3 +3.8
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.7 39 21 5.8 +2.4
DFLV Dimensional US Large Cap Value ETF 0.6 22 38 7.7 +4.3
IJJ iShares S&P Mid-Cap 400 Value ETF 0.6 18 42 8.6 +5.2
MDYV SPDR S&P 400 Mid Cap Value ETF 0.6 15 45 8.7 +5.2
SOXX iShares Semiconductor ETF 0.6 35 25 4.8 +1.4
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF 0.6 55 5 9.9 +6.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 0.6 10 50 8.8 +5.4
VO Vanguard Mid-Cap ETF 0.6 4 56 5.7 +2.3
ANEW ProShares MSCI Transformational Changes ETF 0.6 45 15 6.1 +2.7
IMCB iShares Morningstar Mid-Cap ETF 0.5 4 56 6.0 +2.6
IWR iShares Russell Midcap ETF 0.5 19 41 5.7 +2.3
EZM WisdomTree U.S. MidCap Fund 0.5 38 22 9.0 +5.5
PTL Inspire 500 ETF 0.5 9 51 5.2 +1.8
SIZE iShares MSCI USA Size Factor ETF 0.5 15 45 6.0 +2.6
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.5 17 43 5.7 +2.2
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF 0.5 50 10 8.1 +4.7
EUSA iShares MSCI USA Equal Weighted ETF 0.5 9 51 6.1 +2.6
RSPE Invesco ESG S&P 500 Equal Weight ETF 0.5 20 40 6.4 +3.0
RDVY First Trust Rising Dividend Achievers ETF 0.5 50 10 6.8 +3.3
BFOR ALPS Barron's 400 ETF 0.5 65 -5 5.9 +2.5
FESM Fidelity Enhanced Small Cap ETF 0.5 28 32 7.2 +3.8
ISCB iShares Morningstar Small-Cap ETF 0.5 4 56 6.2 +2.7
TXS Texas Capital Texas Equity Index ETF 0.5 49 11 5.6 +2.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 0.5 30 30 6.6 +3.1
HKND Humankind US Stock ETF 0.5 11 49 7.1 +3.7
SPHQ Invesco S&P 500 Quality ETF 0.5 15 45 5.5 +2.0
SHUS Syntax Stratified U.S. Total Market Hedged ETF 0.5 65 -5 6.4 +2.9
SSPY Syntax Stratified LargeCap ETF 0.5 30 30 6.7 +3.2
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -29 4.8 +1.3
GVLU Gotham 1000 Value ETF 0.5 50 10 8.9 +5.4
DFUV Dimensional US Marketwide Value ETF 0.5 22 38 7.5 +4.0
MADE iShares U.S. Manufacturing ETF 0.5 40 20 5.1 +1.7
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.5 25 35 7.8 +4.4
IWS iShares Russell Mid-Cap Value ETF 0.4 23 37 6.7 +3.3
QNXT iShares Nasdaq-100 ex Top 30 ETF 0.4 20 40 4.4 +1.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.4 4 56 6.1 +2.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.4 18 42 7.7 +4.2
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.4 15 45 6.0 +2.5
DFSU Dimensional US Sustainability Core 1 ETF 0.4 18 42 5.3 +1.9
RAYD Rayliant Quantitative Developed Market Equity ETF 0.4 80 -20 4.4 +1.0
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.4 9 51 4.2 +0.8
HLGE Hartford Longevity Economy ETF 0.4 44 16 -0.4 -3.8
STXK Strive Small-Cap ETF 0.4 18 42 5.8 +2.4
XDAT Franklin Exponential Data ETF 0.4 50 10 2.1 -1.3
DEUS Xtrackers Russell US Multifactor ETF 0.4 17 43 7.0 +3.5
PRXV Praxis Impact Large Cap Value ETF 0.4 36 24 6.5 +3.0
FUNL CornerCap Fundametrics Large-Cap ETF 0.4 50 10 7.2 +3.7
SMDX Intech S&P Small-Mid Cap Divers Alp ETF 0.4 35 25 7.1 +3.7
DCOR Dimensional US Core Equity 1 ETF 0.4 14 46 5.3 +1.9
CFA VictoryShares US 500 Volatility Wtd ETF 0.4 35 25 5.9 +2.4
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.4 10 50 5.1 +1.7
VFMO Vanguard U.S. Momentum Factor ETF 0.4 13 47 3.0 -0.5
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.4 40 20 5.8 +2.4
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.4 24 36 8.1 +4.6
VFQY Vanguard U.S. Quality Factor ETF 0.4 13 47 6.3 +2.9
FQAL Fidelity Quality Factor ETF 0.4 15 45 5.6 +2.2
CLNR IQ Cleaner Transport ETF 0.4 45 15 6.6 +3.2
JMOM JPMorgan U.S. Momentum Factor ETF 0.3 12 48 4.5 +1.1
AVMV Avantis U.S. Mid Cap Value ETF 0.3 20 40 8.6 +5.1
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.3 40 20 3.7 +0.3
DFAC Dimensional U.S. Core Equity 2 ETF 0.3 17 43 5.5 +2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.3 39 21 6.7 +3.3
ISCV iShares Morningstar Small Cap Value ETF 0.3 6 54 9.2 +5.8
DXUV Dimensional US Vector Equity ETF 0.3 28 32 6.2 +2.7
VFMF Vanguard U.S. Multifactor ETF 0.3 18 42 7.9 +4.4
FNK First Trust Mid Cap Value AlphaDEX Fund 0.3 70 -10 10.8 +7.4
CCMG CCM Global Equity ETF 0.3 34 26 8.4 +5.0
AVMC Avantis U.S. Mid Cap Equity ETF 0.3 18 42 6.8 +3.4
BKSE BNY Mellon US Small Cap Core Equity ETF 0.3 4 56 5.9 +2.5
MDY SPDR S&P Midcap 400 ETF Trust 0.3 24 36 7.1 +3.7
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 0.3 15 45 7.2 +3.8
IJH iShares Core S&P Mid-Cap ETF 0.3 5 55 7.3 +3.8
DFVX Dimensional US Large Cap Vector ETF 0.3 22 38 6.2 +2.8
IMCG iShares Morningstar Mid-Cap Growth ETF 0.3 6 54 3.9 +0.5
GINN Goldman Sachs Innovate Equity ETF 0.3 52 8 3.7 +0.3
IVOO Vanguard S&P Mid-Cap 400 ETF 0.3 7 53 7.4 +3.9
SPMD SPDR Portfolio S&P 400 Mid Cap ETF 0.3 3 57 7.3 +3.8
IGM iShares Expanded Tech Sector ETF 0.3 41 19 3.9 +0.4
EBI Longview Advantage ETF 0.3 35 25 6.5 +3.0
GVUS Marketbeta Russell 1000 Value Equity ETF 0.3 12 48 6.5 +3.1
DFAU Dimensional US Core Equity Market ETF 0.3 12 48 5.0 +1.6
DTD WisdomTree U.S. Total Dividend Fund 0.3 28 32 6.3 +2.8
DLN WisdomTree U.S. LargeCap Dividend Fund 0.3 28 32 5.9 +2.5
ROUS Hartford Multifactor US Equity ETF 0.3 19 41 7.0 +3.6
STXV Strive 1000 Value ETF 0.2 18 42 8.0 +4.5
VYM Vanguard High Dividend Yield Index ETF 0.2 6 54 7.0 +3.6
AOTG AOT Growth and Innovation ETF 0.2 75 -15 1.7 -1.7
FSMD Fidelity Small-Mid Multifactor ETF 0.2 15 45 7.0 +3.6
ONEQ Fidelity Nasdaq Composite Index ETF 0.2 21 39 3.7 +0.3
VTV Vanguard Value ETF 0.2 4 56 6.9 +3.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 0.2 60 0 7.4 +3.9
ONEO SPDR Russell 1000 Momentum Focus ETF 0.2 20 40 6.9 +3.5
AFMC First Trust Active Factor Mid Cap ETF 0.2 65 -5 8.4 +4.9
AVLV Avantis U.S. Large Cap Value ETF 0.2 15 45 7.7 +4.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.2 9 51 6.1 +2.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 0.2 19 41 6.3 +2.9
AVSU Avantis Responsible U.S. Equity ETF 0.2 15 45 6.0 +2.5
DFUS Dimensional U.S. Equity ETF 0.2 9 51 4.8 +1.3
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 51 4.7 +1.3
VGT Vanguard Information Technology ETF 0.2 9 51 3.9 +0.4
EVUS iShares ESG Aware MSCI USA Value ETF 0.2 18 42 6.5 +3.0
VLU SPDR S&P 1500 Value Tilt ETF 0.2 12 48 7.4 +3.9
RSP Invesco S&P 500 Equal Weight ETF 0.2 20 40 6.5 +3.1
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 45 4.6 +1.2
DFAS Dimensional U.S. Small Cap ETF 0.2 26 34 6.3 +2.9
JHMM John Hancock Multifactor Mid Cap ETF 0.2 42 18 6.3 +2.9
USXF iShares ESG Advanced MSCI USA ETF 0.2 10 50 4.5 +1.1
IUSV iShares Core S&P US Value ETF 0.2 4 56 6.4 +3.0
STXG Strive 1000 Growth ETF 0.2 18 42 3.8 +0.4
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.2 9 51 4.9 +1.4
JEPI JPMorgan Equity Premium Income ETF 0.2 35 25 5.6 +2.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 40 5.5 +2.1
DON WisdomTree U.S. MidCap Dividend Fund 0.2 38 22 8.7 +5.3
MODL VictoryShares WestEnd U.S. Sector ETF 0.2 42 18 4.6 +1.1
ILCV iShares Morningstar Value ETF 0.2 4 56 6.4 +3.0
IYW iShares U.S. Technology ETF 0.2 40 20 3.8 +0.4
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF 0.2 5 55 7.9 +4.5
DEW WisdomTree Global High Dividend Fund 0.2 58 2 8.4 +4.9
AVUQ Avantis U.S. Quality ETF 0.2 15 45 4.4 +0.9
HLAL Wahed FTSE USA Shariah ETF 0.2 50 10 4.7 +1.3
VONV Vanguard Russell 1000 Value ETF 0.2 7 53 6.5 +3.1
IVE iShares S&P 500 Value ETF 0.2 18 42 6.1 +2.7
VOOV Vanguard S&P 500 Value ETF 0.2 7 53 6.3 +2.8
SHE SPDR MSCI USA Gender Diversity ETF 0.2 20 40 5.0 +1.6
SPYV SPDR Portfolio S&P 500 Value ETF 0.2 4 56 6.3 +2.8
VTI Vanguard Total Stock Market ETF 0.2 3 57 4.9 +1.4
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 40 6.8 +3.3
VTHR Vanguard Russell 3000 ETF 0.2 7 53 4.8 +1.4
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.2 25 35 5.6 +2.2
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 49 4.9 +1.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.2 10 50 4.9 +1.5
FLDZ RiverNorth Patriot ETF 0.2 75 -15 6.1 +2.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 21 5.3 +1.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.1 3 57 4.9 +1.4
IWV iShares Russell 3000 ETF 0.1 20 40 4.7 +1.3
IWD iShares Russell 1000 Value ETF 0.1 19 41 6.4 +3.0
IDMO Invesco S&P International Developed Momentum ETF 0.1 25 35 5.3 +1.9
SUSL iShares ESG MSCI USA Leaders ETF 0.1 10 50 4.9 +1.5
FMDE Fidelity Enhanced Mid Cap ETF 0.1 23 37 5.7 +2.3
BKLC BNY Mellon US Large Cap Core Equity ETF 0.1 0 60 4.9 +1.4
AVUS Avantis U.S. Equity ETF 0.1 15 45 5.7 +2.3
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.1 29 31 4.4 +1.0
STRV Strive 500 ETF 0.1 5 55 4.8 +1.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.1 45 15 4.4 +1.0
RVRB Reverb ETF 0.1 30 30 4.5 +1.1
KOMP SPDR S&P Kensho New Economies Composite ETF 0.1 20 40 2.5 -0.9
VIS Vanguard Industrials ETF 0.1 9 51 4.5 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 0.1 9 51 5.5 +2.1
IWN iShares Russell 2000 Value ETF 0.1 24 36 7.3 +3.9
VONE Vanguard Russell 1000 ETF 0.1 7 53 4.9 +1.5
VTWV Vanguard Russell 2000 Value ETF 0.1 10 50 7.3 +3.9
IYY iShares Dow Jones U.S. ETF 0.1 20 40 4.8 +1.3
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 28 4.9 +1.5
VSLU Applied Finance Valuation Large Cap ETF 0.1 49 11 5.6 +2.1
EPS WisdomTree U.S. LargeCap Fund 0.1 8 52 5.7 +2.2
CVLC Calvert US Large-Cap Core Responsible Index ETF 0.1 15 45 4.9 +1.4
RWK Invesco S&P MidCap 400 Revenue ETF 0.1 39 21 9.3 +5.9
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 25 5.1 +1.7
IWB iShares Russell 1000 ETF 0.1 15 45 4.8 +1.4
ILCB iShares Morningstar U.S. Equity ETF 0.1 3 57 4.8 +1.4
KLMN Invesco MSCI North America Climate ETF 0.1 9 51 4.9 +1.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.1 29 31 6.4 +3.0
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 51 4.9 +1.4
FIDU Fidelity MSCI Industrial Index ETF 0.1 8 52 4.4 +1.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.1 7 53 4.8 +1.3
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 0.1 49 11 3.8 +0.3
TOV JLens 500 Jewish Advocacy U.S. ETF 0.1 18 42 4.6 +1.2
ESGU iShares ESG Aware MSCI USA ETF 0.1 15 45 4.7 +1.3
QQQ Invesco QQQ Trust Series I 0.1 20 40 4.1 +0.6
VEGN US Vegan Climate ETF 0.1 60 0 4.5 +1.0
QQQM Invesco NASDAQ 100 ETF 0.1 15 45 4.1 +0.7
VT Vanguard Total World Stock ETF 0.1 6 54 5.9 +2.4
QVML Invesco S&P 500 QVM Multi-factor ETF 0.1 11 49 5.1 +1.7
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 51 4.6 +1.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.1 35 25 6.6 +3.2
VOTE TCW Transform 500 ETF 0.1 5 55 4.8 +1.4
VFH Vanguard Financials ETF 0.1 9 51 6.3 +2.8
APIE ActivePassive International Equity ETF 0.1 45 15 7.6 +4.1
DSPY Tema S&P 500 Historical Weight ETF 0.1 18 42 5.1 +1.7
MTUM iShares MSCI USA Momentum Factor ETF 0.1 15 45 3.5 +0.0
IUS Invesco RAFI Strategic US ETF 0.1 19 41 6.9 +3.5
VV Vanguard Large-Cap ETF 0.1 4 56 4.8 +1.4
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 51 4.8 +1.3
FAB First Trust Multi Cap Value AlphaDEX Fund 0.1 67 -7 9.8 +6.3
FTEC Fidelity MSCI Information Technology Index ETF 0.1 8 52 3.9 +0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 58 4.9 +1.5
JHML John Hancock Multifactor Large Cap ETF 0.1 29 31 5.3 +1.9
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 51 5.2 +1.7
ONEY SPDR Russell 1000 Yield Focus ETF 0.1 20 40 9.4 +6.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.1 12 48 4.5 +1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 40 5.6 +2.2
APUE ActivePassive U.S. Equity ETF 0.1 45 15 4.6 +1.2
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.1 3 57 5.1 +1.7
RWL Invesco S&P 500 Revenue ETF 0.1 39 21 6.8 +3.4
VONG Vanguard Russell 1000 Growth ETF 0.1 7 53 4.4 +1.0
IWF iShares Russell 1000 Growth ETF 0.1 19 41 4.4 +0.9
QGRO American Century U.S. Quality Growth ETF 0.1 29 31 3.5 +0.1
OALC OneAscent Large Cap Core ETF 0.1 86 -26 4.1 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 40 4.7 +1.2
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 50 5.7 +2.3
IVV iShares Core S&P 500 ETF 0.1 3 57 4.9 +1.5
SPY SPDR S&P 500 ETF Trust 0.1 9 51 4.9 +1.4
VOO Vanguard S&P 500 ETF 0.1 3 57 5.0 +1.5
TOK iShares MSCI Kokusai ETF 0.1 26 34 5.0 +1.6
SPLG SPDR Portfolio S&P 500 ETF 0.1 2 58 4.9 +1.5
OUSA ALPS O'Shares U.S. Quality Dividend ETF 0.1 48 12 6.0 +2.6
PBUS Invesco MSCI USA ETF 0.1 4 56 4.8 +1.4
URTH iShares MSCI World ETF 0.1 24 36 5.1 +1.6
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -5 4.1 +0.7
LRGF iShares U.S. Equity Factor ETF 0.1 8 52 5.4 +1.9
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.5 +2.1
FSST Fidelity Sustainable U.S. Equity ETF 0.1 59 1 4.3 +0.9
FELG Fidelity Enhanced Large Cap Growth ETF 0.1 18 42 4.6 +1.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 51 5.7 +2.3
ILCG iShares Morningstar Growth ETF 0.1 4 56 3.6 +0.2
QUS SPDR MSCI USA StrategicFactors ETF 0.1 15 45 5.7 +2.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 57 7.0 +3.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 27 10.2 +6.8
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.1 24 36 7.7 +4.2
FNCL Fidelity MSCI Financials Index ETF 0.1 8 52 6.3 +2.8
SFY SoFi Select 500 ETF 0.0 0 60 4.4 +1.0
LGDX Intech S&P Large Cap Diversified Alpha ETF 0.0 25 35 5.3 +1.9
PABU iShares Paris-Aligned Climate MSCI USA ETF 0.0 10 50 4.3 +0.9
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 21 6.8 +3.3
FELV Fidelity Enhanced Large Cap Value ETF 0.0 18 42 6.7 +3.3
INRO iShares U.S. Industry Rotation Active ETF 0.0 42 18 4.2 +0.8
HAPI Harbor Human Capital Factor US Large Cap ETF 0.0 36 24 4.8 +1.3
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 30 5.9 +2.5
GSPY Gotham Enhanced 500 ETF 0.0 50 10 5.2 +1.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 8.8 +5.4
DUHP Dimensional US High Profitability ETF 0.0 21 39 6.3 +2.9
VFVA Vanguard U.S. Value Factor ETF 0.0 13 47 10.8 +7.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 48 5.2 +1.7
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.0 12 48 4.5 +1.0

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 17.0 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.59
 
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.