Renaissance IPO ETF
ALTAR
Score™		 3.3% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 26.3x P/Sales
ratio		 4.0x
P/BV
ratio		 4.9x 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) $182
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
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 August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.3% 19.2% 0.6% 8.8% 8.1%

Market Correlations
versus... Beta R-squared
S&P500 1.42 57%
MSCI EAFE 0.75 18%
MSCI Emg. Mkts. 0.82 23%

Technical Indicators
Recent close $52.06
30d moving avg. $49.60
Annualized volatility 28.6%
Short interest (ETF) 5.0%
Short interest (Underlying) 6.1%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 129
Turnover 3.7%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $1,335

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 401 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™: 3.3%


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 14.1 75 -15 0.3 -3.1
NBDS Neuberger Berman Disrupters ETF 9.2 55 5 0.7 -2.6
TAN Invesco Solar ETF 8.2 67 -7 6.8 +3.5
FFTY Innovator IBD 50 ETF 7.7 80 -20 -2.4 -5.7
FPX First Trust US Equity Opportunities ETF 7.5 61 -1 1.0 -2.4
FMTM MarketDesk Focused U.S. Momentum ETF 7.2 45 15 3.7 +0.3
IDGT iShares U.S. Digital Infrastructure and Real Estate ETF 7.0 41 19 6.0 +2.6
CHAT Roundhill Generative AI & Technology ETF 6.9 75 -15 8.9 +5.5
CTEC Global X CleanTech ETF 6.6 50 10 -0.1 -3.4
WTAI WisdomTree Artificial Intelligence and Innovation Fund 6.6 45 15 2.6 -0.7
FPXI First Trust International Equity Opportunities ETF 6.3 70 -10 4.2 +0.8
TMAT Main Thematic Innovation ETF 6.1 164 -104 -1.5 -4.8
SIXG Defiance Connective Technologies ETF 5.8 30 30 3.5 +0.2
FRNW Fidelity Clean Energy ETF 5.7 39 21 3.2 -0.1
VCLN Virtus Duff & Phelps Clean Energy ETF 5.6 59 1 4.8 +1.4
TRFK Pacer Data and Digital Revolution ETF 5.5 60 0 2.9 -0.4
SOCL Global X Social Media ETF 5.5 65 -5 8.6 +5.3
XSD SPDR S&P Semiconductor ETF 5.4 35 25 3.8 +0.5
FPXE First Trust IPOX Europe Equity Opportunities ETF 5.3 70 -10 4.8 +1.4
LOUP Innovator Deepwater Frontier Tech ETF 5.3 70 -10 1.2 -2.2
FXL First Trust Technology AlphaDEX Fund 5.0 61 -1 5.3 +2.0
ACES ALPS Clean Energy ETF 5.0 55 5 -3.6 -6.9
AIS VistaShares Artificial Intelligence Supercycle ETF 4.9 75 -15 2.8 -0.5
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 4.8 58 2 -2.3 -5.6
ICLN iShares Global Clean Energy ETF 4.2 41 19 5.1 +1.8
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 4.1 86 -26 0.4 -3.0
SFYX SoFi Next 500 ETF 4.1 0 60 5.7 +2.3
BEDZ AdvisorShares Hotel ETF 4.0 100 -40 6.7 +3.3
USRD Themes US R&D Champions ETF 3.9 29 31 4.5 +1.2
TRFM AAM Transformers ETF 3.8 49 11 1.3 -2.1
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 3.7 95 -35 0.5 -2.8
OPTZ Optimize Strategy Index ETF 3.6 50 10 4.6 +1.3
AIVC Amplify Bloomberg AI Value Chain ETF 3.5 59 1 5.3 +2.0
JHSC John Hancock Multifactor Small Cap ETF 3.5 42 18 6.6 +3.3
PSI Invesco Semiconductors ETF 3.5 57 3 3.9 +0.6
CBSE Clough Select Equity ETF 3.4 85 -25 0.9 -2.5
LRNZ TrueShares Technology, AI & Deep Learning ETF 3.3 69 -9 -0.6 -3.9
BUG Global X Cybersecurity ETF 3.1 51 9 2.4 -1.0
DAT ProShares Big Data Refiners ETF 3.1 58 2 2.1 -1.2
WCBR WisdomTree Cybersecurity Fund 3.1 45 15 1.8 -1.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 3.1 70 -10 2.8 -0.6
LBO WHITEWOLF Publicly Listed Private Equity ETF 3.1 70 -10 8.1 +4.8
TBG TBG Dividend Focus ETF 3.0 59 1 7.9 +4.5
HACK ETFMG Prime Cyber Security ETFMG Prime Cyber Security Fund 2.9 60 0 3.4 +0.1
DIVZ TrueShares Low Volatility Equity Income ETF 2.9 65 -5 6.6 +3.2
CHGX AXS Change Finance ESG ETF 2.9 49 11 4.8 +1.5
OGIG ALPS O'Shares Global Internet Giants ETF 2.8 48 12 1.5 -1.8
VERS ProShares Metaverse ETF 2.8 58 2 -1.1 -4.4
BPAY BlackRock Future Financial and Technology ETF 2.8 70 -10 7.7 +4.4
GVIP Goldman Sachs Hedge Industry VIP ETF 2.8 45 15 3.1 -0.2
DIVY Sound Equity Dividend Income ETF 2.7 45 15 9.5 +6.2
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 2.6 65 -5 2.1 -1.3
SFYF SoFi Social 50 ETF 2.5 29 31 0.4 -3.0
CNRG SPDR S&P Kensho Clean Power ETF 2.5 45 15 1.0 -2.3
XITK SPDR FactSet Innovative Technology ETF 2.5 45 15 -0.3 -3.6
PTF Invesco Dorsey Wright Technology Momentum ETF 2.5 60 0 1.3 -2.1
TMFX Motley Fool Next Index ETF 2.4 50 10 2.6 -0.8
FTC First Trust Large Cap Growth AlphaDEX Fund 2.4 59 1 2.7 -0.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.4 86 -26 13.1 +9.7
RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF 2.4 40 20 7.2 +3.8
XNTK SPDR NYSE Technology ETF 2.3 35 25 3.5 +0.2
XLP Consumer Staples Select Sector SPDR Fund 2.3 8 52 6.1 +2.8
ABLG Abacus FCF International Leaders ETF 2.3 59 1 6.9 +3.5
CIBR First Trust NASDAQ Cybersecurity ETF 2.3 60 0 4.0 +0.7
VTWG Vanguard Russell 2000 Growth ETF 2.2 10 50 1.4 -1.9
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.2 57 3 3.8 +0.5
IWO iShares Russell 2000 Growth ETF 2.2 24 36 1.3 -2.0
VBK Vanguard Small-Cap Growth ETF 2.2 7 53 1.9 -1.4
FAD First Trust Multi Cap Growth AlphaDEX Fund 2.1 64 -4 2.2 -1.2
MID American Century Mid Cap Growth Impact ETF 2.1 45 15 3.2 -0.2
LYLD Cambria Large Cap Shareholder Yield ETF 2.1 59 1 9.4 +6.1
QMOM Alpha Architect U.S. Quantitative Momentum ETF 2.0 39 21 3.3 -0.0
ERTH Invesco MSCI Sustainable Future ETF 1.9 62 -2 3.7 +0.3
MVAL VanEck Morningstar Wide Moat Value ETF 1.8 49 11 6.6 +3.3
SFLO VictoryShares Small Cap Free Cash Flow ETF 1.8 49 11 11.3 +7.9
BDIV AAM Brentview Dividend Growth ETF 1.8 49 11 4.5 +1.2
SOXQ Invesco PHLX Semiconductor ETF 1.8 19 41 4.4 +1.1
DTCR Global X Data Center & Digital Infrastructure ETF 1.8 50 10 4.3 +0.9
BUZZ VanEck Social Sentiment ETF 1.8 75 -15 -0.4 -3.7
SSPX Janus Henderson U.S. Sustainable Equity ETF 1.8 55 5 4.3 +0.9
FNX First Trust Mid Cap Core AlphaDEX Fund 1.7 60 0 7.3 +3.9
IYK iShares U.S. Consumer Staples ETF 1.7 40 20 6.4 +3.1
VAMO Cambria Value & Momentum ETF 1.6 61 -1 5.7 +2.4
FBCV Fidelity Blue Chip Value ETF 1.6 59 1 7.4 +4.0
PBW Invesco WilderHill Clean Energy ETF 1.6 66 -6 -3.7 -7.1
TPHD Timothy Plan High Dividend Stock ETF 1.6 52 8 7.1 +3.7
FXD First Trust Consumer Discretionary AlphaDEX Fund 1.6 61 -1 7.2 +3.8
TPHE Timothy Plan High Dividend Stock Enhanced ETF 1.6 54 6 7.0 +3.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 1.5 9 51 4.2 +0.9
FLV American Century Focused Large Cap Value ETF 1.5 42 18 6.6 +3.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF 1.5 35 25 7.8 +4.4
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF 1.5 38 22 7.7 +4.4
SMOG VanEck Low Carbon Energy ETF 1.5 61 -1 1.8 -1.6
METV Roundhill Ball Metaverse ETF 1.5 59 1 7.4 +4.1
SHOC Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF 1.5 40 20 3.2 -0.2
SDY SPDR S&P Dividend ETF 1.4 35 25 6.6 +3.3
STXM Strive Mid-Cap ETF 1.4 18 42 6.1 +2.8
FXO First Trust Financials AlphaDEX Fund 1.4 62 -2 8.1 +4.8
FCLD Fidelity Cloud Computing ETF 1.4 39 21 3.2 -0.2
SKYY First Trust Cloud Computing ETF 1.4 60 0 2.7 -0.6
FESM Fidelity Enhanced Small Cap ETF 1.4 28 32 7.2 +3.8
WCLD WisdomTree Cloud Computing Fund 1.3 45 15 1.6 -1.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 1.3 65 -5 3.5 +0.2
XMHQ Invesco S&P MidCap Quality ETF 1.3 25 35 6.5 +3.1
PSC Principal U.S. Small-Cap ETF 1.3 38 22 6.8 +3.4
VDC Vanguard Consumer Staples ETF 1.3 9 51 5.8 +2.4
FCOM Fidelity MSCI Communication Services Index ETF 1.3 8 52 4.4 +1.0
IGPT Invesco AI and Next Gen Software ETF 1.2 60 0 4.2 +0.8
QTUM Defiance Quantum ETF 1.2 40 20 5.4 +2.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 1.2 4 56 6.1 +2.7
FSTA FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF 1.2 8 52 5.8 +2.4
QDIV Global X S&P 500 Quality Dividend ETF 1.2 20 40 8.7 +5.4
IWM iShares Russell 2000 ETF 1.2 19 41 4.3 +0.9
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.2 35 25 6.1 +2.8
VTWO Vanguard Russell 2000 ETF 1.2 7 53 4.3 +1.0
FTXL First Trust Nasdaq Semiconductor ETF 1.2 60 0 4.9 +1.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 1.2 7 53 6.0 +2.6
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 1.2 60 0 7.6 +4.2
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.1 75 -15 7.3 +3.9
SMLF iShares U.S. SmallCap Equity Factor ETF 1.1 15 45 5.8 +2.5
ARKW ARK Next Generation Internet ETF 1.1 87 -27 -0.3 -3.7
VOX Vanguard Communication Services ETF 1.1 9 51 4.4 +1.1
DVLU First Trust Dorsey Wright Momentum & Value ETF 1.1 60 0 7.3 +4.0
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.1 35 25 4.2 +0.9
NULV Nuveen ESG Large-Cap Value ETF 1.1 26 34 6.3 +3.0
FDVV Fidelity High Dividend ETF 1.1 15 45 7.6 +4.2
MOAT VanEck Morningstar Wide Moat ETF 1.1 46 14 5.8 +2.5
SPYD SPDR Portfolio S&P 500 High Dividend ETF 1.0 7 53 9.8 +6.5
RSSL Global X Russell 2000 ETF 1.0 8 52 4.3 +1.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.0 58 2 4.2 +0.9
FBCG Fidelity Blue Chip Growth ETF 1.0 59 1 2.8 -0.6
CCSO Carbon Collective Climate Solutions US Equity ETF 1.0 35 25 1.0 -2.3
KBE SPDR S&P Bank ETF 1.0 35 25 9.1 +5.8
KNCT Invesco Next Gen Connectivity ETF 1.0 40 20 4.7 +1.4
KXI iShares Global Consumer Staples ETF 1.0 41 19 5.5 +2.2
IWP iShares Russell Mid-Cap Growth ETF 1.0 23 37 3.4 +0.1
VB Vanguard Small-Cap ETF 0.9 5 55 6.1 +2.8
VXF Vanguard Extended Market ETF 0.9 5 55 4.6 +1.3
FFLC Fidelity Fundamental Large Cap Core ETF 0.9 38 22 4.5 +1.2
BKWO BNY Mellon Women's Opportunities ETF 0.9 50 10 3.6 +0.3
HEAL Global X HealthTech ETF 0.9 50 10 -0.6 -3.9
HELX Franklin Genomic Advancements ETF 0.9 50 10 -0.2 -3.6
HTEC ROBO Global Healthcare Technology and Innovation ETF 0.9 68 -8 2.4 -0.9
FXH First Trust Health Care AlphaDEX Fund 0.9 62 -2 8.5 +5.1
ISCG iShares Morningstar Small-Cap Growth ETF 0.9 6 54 2.9 -0.5
VOE Vanguard Mid-Cap Value ETF 0.9 7 53 7.6 +4.2
WDNA WisdomTree BioRevolution Fund 0.9 45 15 -1.4 -4.7
NANC Unusual Whales Subversive Democratic Trading ETF 0.9 75 -15 3.7 +0.3
HDUS Hartford Disciplined US Equity ETF 0.9 19 41 5.6 +2.3
FEX First Trust Large Cap Core AlphaDEX Fund 0.9 59 1 5.8 +2.5
XT iShares Exponential Technologies ETF 0.9 46 14 4.9 +1.6
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.8 25 35 7.8 +4.5
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 0.8 30 30 6.5 +3.2
CALF Pacer US Small Cap Cash Cows 100 ETF 0.8 59 1 10.7 +7.4
EZM WisdomTree U.S. MidCap Fund 0.8 38 22 9.0 +5.7
HLGE Hartford Longevity Economy ETF 0.8 44 16 -0.4 -3.7
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 0.8 15 45 8.8 +5.5
FDG American Century Focused Dynamic Growth ETF 0.8 45 15 1.9 -1.4
ROE Astoria US Quality Kings ETF 0.8 49 11 6.5 +3.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.8 39 21 5.8 +2.4
IMCV iShares Morningstar Mid-Cap Value ETF 0.7 6 54 8.0 +4.7
VFMO Vanguard U.S. Momentum Factor ETF 0.7 13 47 2.9 -0.4
VUSE Vident U.S. Equity Strategy ETF 0.7 50 10 4.5 +1.1
ULVM VictoryShares US Value Momentum ETF 0.7 20 40 7.2 +3.9
FDRR Fidelity Dividend ETF for Rising Rates 0.7 15 45 7.0 +3.6
NUDV Nuveen ESG Dividend ETF 0.7 26 34 7.6 +4.3
XDAT Franklin Exponential Data ETF 0.7 50 10 2.1 -1.3
GVLU Gotham 1000 Value ETF 0.7 50 10 8.8 +5.5
IJJ iShares S&P Mid-Cap 400 Value ETF 0.7 18 42 8.7 +5.3
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.7 17 43 5.6 +2.3
IVOV Vanguard S&P Mid-Cap 400 Value ETF 0.7 10 50 8.8 +5.5
MDYV SPDR S&P 400 Mid Cap Value ETF 0.7 15 45 8.7 +5.3
RAYD Rayliant Quantitative Developed Market Equity ETF 0.6 80 -20 4.3 +1.0
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.6 52 8 5.6 +2.2
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.6 58 2 5.5 +2.1
ISCB iShares Morningstar Small-Cap ETF 0.6 4 56 6.2 +2.8
FQAL Fidelity Quality Factor ETF 0.6 15 45 5.6 +2.3
SOXX iShares Semiconductor ETF 0.6 35 25 4.8 +1.4
HDV iShares Core High Dividend ETF 0.6 8 52 7.2 +3.9
QUVU Hartford Quality Value ETF 0.6 46 14 7.2 +3.9
CLNR IQ Cleaner Transport ETF 0.6 45 15 6.6 +3.3
FLDZ RiverNorth Patriot ETF 0.6 75 -15 6.1 +2.7
SIZE iShares MSCI USA Size Factor ETF 0.6 15 45 6.1 +2.7
FFOX FundX Future Fund Opportunities ETF 0.6 100 -40 4.2 +0.8
RND First Trust Bloomberg R&D Leaders ETF 0.6 60 0 3.6 +0.2
SMOT VanEck Morningstar SMID Moat ETF 0.6 49 11 6.5 +3.2
DHS WisdomTree U.S. High Dividend Fund 0.6 38 22 8.0 +4.7
DFLV Dimensional US Large Cap Value ETF 0.5 22 38 7.7 +4.4
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF 0.5 55 5 10.0 +6.6
BFOR ALPS Barron's 400 ETF 0.5 65 -5 5.9 +2.6
IMCB iShares Morningstar Mid-Cap ETF 0.5 4 56 6.0 +2.7
IWR iShares Russell Midcap ETF 0.5 19 41 5.7 +2.4
MADE iShares U.S. Manufacturing ETF 0.5 40 20 5.1 +1.8
TXS Texas Capital Texas Equity Index ETF 0.5 49 11 5.6 +2.3
PTL Inspire 500 ETF 0.5 9 51 5.1 +1.8
VO Vanguard Mid-Cap ETF 0.5 4 56 5.7 +2.4
RDVY First Trust Rising Dividend Achievers ETF 0.5 50 10 6.8 +3.4
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 5.5 +2.2
QNXT iShares Nasdaq-100 ex Top 30 ETF 0.5 20 40 4.4 +1.1
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -29 4.8 +1.5
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF 0.5 50 10 8.1 +4.7
RSPE Invesco ESG S&P 500 Equal Weight ETF 0.4 20 40 6.4 +3.1
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.4 15 45 5.9 +2.6
ANEW ProShares MSCI Transformational Changes ETF 0.4 45 15 6.1 +2.7
SPHQ Invesco S&P 500 Quality ETF 0.4 15 45 5.5 +2.2
HKND Humankind US Stock ETF 0.4 11 49 7.1 +3.7
DFUV Dimensional US Marketwide Value ETF 0.4 22 38 7.5 +4.1
DFSU Dimensional US Sustainability Core 1 ETF 0.4 18 42 5.3 +2.0
AFSM First Trust Active Factor Small Cap ETF 0.4 75 -15 7.5 +4.2
DCOR Dimensional US Core Equity 1 ETF 0.4 14 46 5.3 +2.0
IWS iShares Russell Mid-Cap Value ETF 0.4 23 37 6.7 +3.4
SHUS Syntax Stratified U.S. Total Market Hedged ETF 0.4 65 -5 6.4 +3.0
SSPY Syntax Stratified LargeCap ETF 0.4 30 30 6.7 +3.3
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.4 40 20 3.7 +0.4
AVMV Avantis U.S. Mid Cap Value ETF 0.4 20 40 8.6 +5.3
FUNL CornerCap Fundametrics Large-Cap ETF 0.4 50 10 7.2 +3.9
FTEC Fidelity MSCI Information Technology Index ETF 0.4 8 52 3.9 +0.6
ISCV iShares Morningstar Small Cap Value ETF 0.4 6 54 9.2 +5.9
EUSA iShares MSCI USA Equal Weighted ETF 0.4 9 51 6.1 +2.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.4 39 21 6.6 +3.3
JMOM JPMorgan U.S. Momentum Factor ETF 0.4 12 48 4.4 +1.1
PRXV Praxis Impact Large Cap Value ETF 0.3 36 24 6.5 +3.1
CFA VictoryShares US 500 Volatility Wtd ETF 0.3 35 25 5.9 +2.5
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.3 40 20 5.8 +2.5
FNK First Trust Mid Cap Value AlphaDEX Fund 0.3 70 -10 10.9 +7.5
DFAC Dimensional U.S. Core Equity 2 ETF 0.3 17 43 5.5 +2.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.3 18 42 7.6 +4.3
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 0.3 15 45 7.2 +3.9
IMCG iShares Morningstar Mid-Cap Growth ETF 0.3 6 54 4.0 +0.6
MDY SPDR S&P Midcap 400 ETF Trust 0.3 24 36 7.1 +3.8
IGM iShares Expanded Tech Sector ETF 0.3 41 19 3.8 +0.5
IJH iShares Core S&P Mid-Cap ETF 0.3 5 55 7.3 +3.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.3 21 39 3.7 +0.3
DEUS Xtrackers Russell US Multifactor ETF 0.3 17 43 7.0 +3.6
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.3 10 50 5.1 +1.8
SMDX Intech S&P Small-Mid Cap Divers Alp ETF 0.3 35 25 7.1 +3.8
IVOO Vanguard S&P Mid-Cap 400 ETF 0.3 7 53 7.4 +4.0
SPMD SPDR Portfolio S&P 400 Mid Cap ETF 0.3 3 57 7.3 +4.0
AVMC Avantis U.S. Mid Cap Equity ETF 0.3 18 42 6.9 +3.5
QGRO American Century U.S. Quality Growth ETF 0.3 29 31 3.5 +0.2
DXUV Dimensional US Vector Equity ETF 0.3 28 32 6.2 +2.8
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 6.4 +3.0
DWAS Invesco Dorsey Wright SmallCap Momentum ETF 0.3 60 0 2.0 -1.3
VFMF Vanguard U.S. Multifactor ETF 0.3 18 42 7.8 +4.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.3 24 36 8.0 +4.7
DFAU Dimensional US Core Equity Market ETF 0.3 12 48 5.0 +1.6
JHMM John Hancock Multifactor Mid Cap ETF 0.3 42 18 6.3 +3.0
EBI Longview Advantage ETF 0.3 35 25 6.5 +3.1
STXG Strive 1000 Growth ETF 0.3 18 42 3.8 +0.5
DFVX Dimensional US Large Cap Vector ETF 0.3 22 38 6.2 +2.8
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.3 25 35 5.6 +2.2
ROUS Hartford Multifactor US Equity ETF 0.3 19 41 7.0 +3.6
CLOD Themes Cloud Computing ETF 0.3 35 25 3.2 -0.2
VGT Vanguard Information Technology ETF 0.3 9 51 3.8 +0.5
CCMG CCM Global Equity ETF 0.3 34 26 8.4 +5.0
STXV Strive 1000 Value ETF 0.3 18 42 7.9 +4.6
OALC OneAscent Large Cap Core ETF 0.3 86 -26 4.0 +0.7
FSMD Fidelity Small-Mid Multifactor ETF 0.2 15 45 7.0 +3.7
AVLV Avantis U.S. Large Cap Value ETF 0.2 15 45 7.8 +4.4
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 49 4.8 +1.5
AFMC First Trust Active Factor Mid Cap ETF 0.2 65 -5 8.3 +4.9
DFUS Dimensional U.S. Equity ETF 0.2 9 51 4.8 +1.4
STRV Strive 500 ETF 0.2 5 55 4.8 +1.4
GVUS Marketbeta Russell 1000 Value Equity ETF 0.2 12 48 6.5 +3.2
DFAS Dimensional U.S. Small Cap ETF 0.2 26 34 6.4 +3.0
VYM Vanguard High Dividend Yield Index ETF 0.2 6 54 6.9 +3.6
AVSU Avantis Responsible U.S. Equity ETF 0.2 15 45 5.9 +2.6
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 0.2 60 0 7.4 +4.1
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 51 4.7 +1.3
ONEO SPDR Russell 1000 Momentum Focus ETF 0.2 20 40 6.9 +3.6
FELG Fidelity Enhanced Large Cap Growth ETF 0.2 18 42 4.6 +1.3
DLN WisdomTree U.S. LargeCap Dividend Fund 0.2 28 32 5.9 +2.6
IYW iShares U.S. Technology ETF 0.2 40 20 3.8 +0.4
DTD WisdomTree U.S. Total Dividend Fund 0.2 28 32 6.2 +2.9
VTV Vanguard Value ETF 0.2 4 56 6.8 +3.5
FIDU Fidelity MSCI Industrial Index ETF 0.2 8 52 4.5 +1.1
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 40 6.8 +3.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 21 5.3 +1.9
DON WisdomTree U.S. MidCap Dividend Fund 0.2 38 22 8.8 +5.4
AVUQ Avantis U.S. Quality ETF 0.2 15 45 4.3 +1.0
DEW WisdomTree Global High Dividend Fund 0.2 58 2 8.3 +5.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 0.2 19 41 6.3 +3.0
IUSV iShares Core S&P US Value ETF 0.2 4 56 6.4 +3.1
VLU SPDR S&P 1500 Value Tilt ETF 0.2 12 48 7.4 +4.0
VTI Vanguard Total Stock Market ETF 0.2 3 57 4.8 +1.5
VTHR Vanguard Russell 3000 ETF 0.2 7 53 4.8 +1.5
EVUS iShares ESG Aware MSCI USA Value ETF 0.2 18 42 6.5 +3.1
USXF iShares ESG Advanced MSCI USA ETF 0.2 10 50 4.6 +1.2
RSP Invesco S&P 500 Equal Weight ETF 0.2 20 40 6.6 +3.2
ILCV iShares Morningstar Value ETF 0.2 4 56 6.4 +3.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.2 9 51 6.1 +2.8
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 45 4.6 +1.3
VIS Vanguard Industrials ETF 0.2 9 51 4.6 +1.2
IWV iShares Russell 3000 ETF 0.2 20 40 4.7 +1.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.2 3 57 4.8 +1.5
VONV Vanguard Russell 1000 Value ETF 0.2 7 53 6.5 +3.2
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 35 5.3 +1.9
AVUS Avantis U.S. Equity ETF 0.2 15 45 5.7 +2.4
KOMP SPDR S&P Kensho New Economies Composite ETF 0.1 20 40 2.5 -0.9
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF 0.1 5 55 8.0 +4.6
HLAL Wahed FTSE USA Shariah ETF 0.1 50 10 4.7 +1.3
IVE iShares S&P 500 Value ETF 0.1 18 42 6.2 +2.8
SPYV SPDR Portfolio S&P 500 Value ETF 0.1 4 56 6.3 +3.0
VOOV Vanguard S&P 500 Value ETF 0.1 7 53 6.3 +2.9
IWN iShares Russell 2000 Value ETF 0.1 24 36 7.3 +3.9
MODL VictoryShares WestEnd U.S. Sector ETF 0.1 42 18 4.5 +1.2
BKLC BNY Mellon US Large Cap Core Equity ETF 0.1 0 60 4.9 +1.5
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.1 9 51 4.8 +1.5
JEPI JPMorgan Equity Premium Income ETF 0.1 35 25 5.7 +2.3
VTWV Vanguard Russell 2000 Value ETF 0.1 10 50 7.3 +3.9
RVRB Reverb ETF 0.1 30 30 4.5 +1.2
FMDE Fidelity Enhanced Mid Cap ETF 0.1 23 37 5.7 +2.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.1 10 50 4.9 +1.6
SHE SPDR MSCI USA Gender Diversity ETF 0.1 20 40 5.0 +1.7
RWK Invesco S&P MidCap 400 Revenue ETF 0.1 39 21 9.3 +5.9
IWD iShares Russell 1000 Value ETF 0.1 19 41 6.4 +3.0
IYY iShares Dow Jones U.S. ETF 0.1 20 40 4.7 +1.4
SUSL iShares ESG MSCI USA Leaders ETF 0.1 10 50 4.9 +1.6
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.1 29 31 4.5 +1.1
VONE Vanguard Russell 1000 ETF 0.1 7 53 4.9 +1.5
VEGN US Vegan Climate ETF 0.1 60 0 4.4 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.1 45 15 4.4 +1.0
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 0.1 49 11 3.7 +0.4
QQQ Invesco QQQ Trust Series I 0.1 20 40 4.0 +0.7
QQQM Invesco NASDAQ 100 ETF 0.1 15 45 4.1 +0.7
MTUM iShares MSCI USA Momentum Factor ETF 0.1 15 45 3.4 +0.1
CVLC Calvert US Large-Cap Core Responsible Index ETF 0.1 15 45 4.9 +1.5
EPS WisdomTree U.S. LargeCap Fund 0.1 8 52 5.6 +2.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.1 29 31 6.3 +3.0
ILCB iShares Morningstar U.S. Equity ETF 0.1 3 57 4.8 +1.4
IWB iShares Russell 1000 ETF 0.1 15 45 4.8 +1.4
VT Vanguard Total World Stock ETF 0.1 6 54 5.8 +2.5
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -5 4.1 +0.7
FAB First Trust Multi Cap Value AlphaDEX Fund 0.1 67 -7 9.8 +6.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.1 35 25 6.6 +3.3
SPXT ProShares S&P 500 Ex-Technology ETF 0.1 9 51 5.5 +2.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.1 7 53 4.7 +1.4
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 25 5.1 +1.7
VFH Vanguard Financials ETF 0.1 9 51 6.3 +3.0
KLMN Invesco MSCI North America Climate ETF 0.1 9 51 4.9 +1.6
IWF iShares Russell 1000 Growth ETF 0.1 19 41 4.3 +1.0
VONG Vanguard Russell 1000 Growth ETF 0.1 7 53 4.4 +1.1
TOV JLens 500 Jewish Advocacy U.S. ETF 0.1 18 42 4.6 +1.2
APIE ActivePassive International Equity ETF 0.1 45 15 7.4 +4.1
APUE ActivePassive U.S. Equity ETF 0.1 45 15 4.6 +1.2
JHML John Hancock Multifactor Large Cap ETF 0.1 29 31 5.3 +2.0
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 51 5.2 +1.8
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 28 4.9 +1.6
VSLU Applied Finance Valuation Large Cap ETF 0.1 49 11 5.5 +2.1
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.1 24 36 7.7 +4.3
ESGU iShares ESG Aware MSCI USA ETF 0.1 15 45 4.7 +1.3
DSPY Tema S&P 500 Historical Weight ETF 0.1 18 42 5.1 +1.8
QVML Invesco S&P 500 QVM Multi-factor ETF 0.1 11 49 5.1 +1.8
TOK iShares MSCI Kokusai ETF 0.1 26 34 5.0 +1.6
ONEY SPDR Russell 1000 Yield Focus ETF 0.1 20 40 9.5 +6.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 58 4.9 +1.5
VOTE TCW Transform 500 ETF 0.1 5 55 4.8 +1.5
VV Vanguard Large-Cap ETF 0.1 4 56 4.8 +1.4
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 51 4.9 +1.5
URTH iShares MSCI World ETF 0.1 24 36 5.0 +1.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.1 12 48 4.5 +1.1
IUS Invesco RAFI Strategic US ETF 0.1 19 41 6.8 +3.5
LRGF iShares U.S. Equity Factor ETF 0.1 8 52 5.3 +2.0
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.1 3 57 5.1 +1.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 40 5.6 +2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 51 5.6 +2.3
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.5 +2.1
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 51 4.7 +1.4
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 51 4.6 +1.2
RWL Invesco S&P 500 Revenue ETF 0.1 39 21 6.8 +3.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 40 4.6 +1.3
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 50 5.7 +2.3
INRO iShares U.S. Industry Rotation Active ETF 0.1 42 18 4.2 +0.9
IVV iShares Core S&P 500 ETF 0.1 3 57 4.9 +1.6
SPLG SPDR Portfolio S&P 500 ETF 0.1 2 58 4.9 +1.6
SPY SPDR S&P 500 ETF Trust 0.1 9 51 4.8 +1.5
VOO Vanguard S&P 500 ETF 0.1 3 57 4.9 +1.6
OUSA ALPS O'Shares U.S. Quality Dividend ETF 0.1 48 12 6.0 +2.7
PBUS Invesco MSCI USA ETF 0.1 4 56 4.8 +1.5
ILCG iShares Morningstar Growth ETF 0.1 4 56 3.6 +0.3
FSST Fidelity Sustainable U.S. Equity ETF 0.1 59 1 4.3 +1.0
AFLG First Trust Active Factor Large Cap ETF 0.1 55 5 6.3 +2.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 57 6.9 +3.6
PABU iShares Paris-Aligned Climate MSCI USA ETF 0.1 10 50 4.3 +1.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 27 9.8 +6.5
FNCL Fidelity MSCI Financials Index ETF 0.1 8 52 6.3 +3.0
QUS SPDR MSCI USA StrategicFactors ETF 0.0 15 45 5.7 +2.3
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 +2.0
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 21 6.7 +3.4
FELV Fidelity Enhanced Large Cap Value ETF 0.0 18 42 6.7 +3.4
HAPI Harbor Human Capital Factor US Large Cap ETF 0.0 36 24 4.8 +1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 8.7 +5.4
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 30 5.9 +2.6
GSPY Gotham Enhanced 500 ETF 0.0 50 10 5.2 +1.9
VFVA Vanguard U.S. Value Factor ETF 0.0 13 47 10.8 +7.5
DUHP Dimensional US High Profitability ETF 0.0 21 39 6.3 +3.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 48 5.1 +1.8
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.0 12 48 4.4 +1.1

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 4.3 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.3 %
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.