Renaissance IPO ETF
ALTAR
Score™		 4.5% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 19.2x P/Sales
ratio		 2.9x
P/BV
ratio		 3.6x Div.
yield		 0.7%


  • 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) $139
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) $18,968
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 May 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.0% 8.9% 3.1% 5.9% 6.9%

Market Correlations
versus... Beta R-squared
S&P500 1.26 54%
MSCI EAFE 0.79 22%
MSCI Emg. Mkts. 0.85 26%

Technical Indicators
Recent close $42.72
30d moving avg. $40.76
Annualized volatility 28.7%
Short interest (ETF) 4.8%
Short interest (Underlying) 6.1%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.5%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $1,335

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 359 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™: 4.5%


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 7.6 75 -15 -0.0 -4.5
FPX First Trust US Equity Opportunities ETF 6.9 61 -1 1.1 -3.4
CHAT Roundhill Generative AI & Technology ETF 6.5 75 -15 7.0 +2.5
NBDS Neuberger Berman Disrupters ETF 6.4 55 5 0.8 -3.7
FPXI First Trust International Equity Opportunities ETF 5.7 70 -10 3.6 -0.9
LOUP Innovator Deepwater Frontier Tech ETF 5.3 70 -10 1.4 -3.1
ACES ALPS Clean Energy ETF 4.9 55 5 -3.6 -8.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 4.9 58 2 -3.3 -7.8
CTEC Global X CleanTech ETF 4.9 50 10 3.1 -1.4
RAYS Global X Solar ETF 4.9 51 9 6.5 +2.0
TAN Invesco Solar ETF 4.9 67 -7 8.7 +4.2
CNRG SPDR S&P Kensho Clean Power ETF 4.9 45 15 0.7 -3.8
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 4.6 86 -26 0.3 -4.2
BOTT Themes Robotics & Automation ETF 4.5 35 25 5.1 +0.6
ICLN iShares Global Clean Energy ETF 4.4 41 19 6.2 +1.7
WTAI WisdomTree Artificial Intelligence and Innovation Fund 4.2 45 15 3.1 -1.5
TRFK Pacer Data and Digital Revolution ETF 4.1 60 0 3.5 -1.0
SIXG Defiance Connective Technologies ETF 4.0 30 30 4.3 -0.2
AIS VistaShares Artificial Intelligence Supercycle ETF 3.7 75 -15 4.0 -0.5
TBG TBG Dividend Focus ETF 3.7 59 1 8.1 +3.6
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF 3.6 49 11 4.4 -0.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.6 70 -10 4.8 +0.3
XSD SPDR S&P Semiconductor ETF 3.5 35 25 4.4 -0.1
FRNW Fidelity Clean Energy ETF 3.4 39 21 4.4 -0.1
LRNZ TrueShares Technology, AI & Deep Learning ETF 3.4 69 -9 -0.6 -5.1
TMAT Main Thematic Innovation ETF 3.3 164 -104 -1.5 -6.0
VCLN Virtus Duff & Phelps Clean Energy ETF 3.3 59 1 5.9 +1.4
PSI Invesco Semiconductors ETF 3.2 57 3 5.4 +0.9
DIVZ TrueShares Low Volatility Equity Income ETF 3.2 65 -5 6.6 +2.0
BPAY BlackRock Future Financial and Technology ETF 3.1 70 -10 7.3 +2.8
CBSE Clough Select Equity ETF 3.1 85 -25 1.4 -3.2
SOCL Global X Social Media ETF 3.1 65 -5 12.4 +7.9
DVLU First Trust Dorsey Wright Momentum & Value ETF 3.1 60 0 8.0 +3.5
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 2.8 60 0 7.0 +2.5
XLP Consumer Staples Select Sector SPDR Fund 2.8 8 52 5.8 +1.3
RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF 2.7 40 20 6.8 +2.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.7 86 -26 14.1 +9.6
QVAL Alpha Architect US Quantitative Value ETF 2.6 39 21 10.5 +6.0
MVAL VanEck Morningstar Wide Moat Value ETF 2.6 49 11 6.7 +2.2
LBO WHITEWOLF Publicly Listed Private Equity ETF 2.5 70 -10 8.6 +4.1
RJMG FT Raymond James Multicap Growth Equity ETF 2.5 85 -25 2.3 -2.2
XNTK SPDR NYSE Technology ETF 2.4 35 25 4.1 -0.5
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.3 57 3 4.0 -0.5
TRFM AAM Transformers ETF 2.3 49 11 1.8 -2.8
SFYF SoFi Social 50 ETF 2.2 29 31 0.2 -4.3
PBW Invesco WilderHill Clean Energy ETF 2.2 66 -6 -5.3 -9.8
LYLD Cambria Large Cap Shareholder Yield ETF 2.2 59 1 10.1 +5.6
IYK iShares U.S. Consumer Staples ETF 2.1 40 20 6.0 +1.5
IDGT iShares U.S. Digital Infrastructure and Real Estate ETF 2.1 41 19 5.4 +0.9
SFYX SoFi Next 500 ETF 2.1 0 60 6.0 +1.5
FBCV Fidelity Blue Chip Value ETF 2.1 59 1 7.6 +3.1
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 1.9 30 30 9.1 +4.6
FLV American Century Focused Large Cap Value ETF 1.9 42 18 6.9 +2.4
BDIV AAM Brentview Dividend Growth ETF 1.9 49 11 4.7 +0.2
USRD Themes US R&D Champions ETF 1.9 29 31 5.1 +0.6
ERTH Invesco MSCI Sustainable Future ETF 1.7 62 -2 3.6 -0.9
TPHD Timothy Plan High Dividend Stock ETF 1.7 52 8 7.2 +2.7
TPHE Timothy Plan High Dividend Stock Enhanced ETF 1.7 54 6 7.4 +2.8
SOXQ Invesco PHLX Semiconductor ETF 1.7 19 41 5.3 +0.8
OPTZ Optimize Strategy Index ETF 1.7 50 10 5.3 +0.7
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 1.7 95 -35 0.6 -3.9
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF 1.7 38 22 8.0 +3.5
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF 1.7 35 25 8.1 +3.6
QDIV Global X S&P 500 Quality Dividend ETF 1.6 20 40 8.7 +4.2
VDC Vanguard Consumer Staples ETF 1.6 10 50 5.5 +1.0
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.6 35 25 6.2 +1.7
GVIP Goldman Sachs Hedge Industry VIP ETF 1.6 45 15 3.5 -1.1
SPYD SPDR Portfolio S&P 500 High Dividend ETF 1.6 7 53 10.1 +5.6
FSTA FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF 1.6 8 52 5.5 +1.0
METV Roundhill Ball Metaverse ETF 1.5 59 1 7.4 +2.9
XITK SPDR FactSet Innovative Technology ETF 1.5 45 15 0.4 -4.1
MOAT VanEck Morningstar Wide Moat ETF 1.5 46 14 6.0 +1.5
XMHQ Invesco S&P MidCap Quality ETF 1.4 25 35 7.1 +2.5
SDY SPDR S&P Dividend ETF 1.4 35 25 6.7 +2.2
JHSC John Hancock Multifactor Small Cap ETF 1.4 42 18 7.2 +2.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 1.3 60 0 6.2 +1.7
NULV Nuveen ESG Large-Cap Value ETF 1.3 26 34 6.5 +2.0
FXO First Trust Financials AlphaDEX Fund 1.3 62 -2 8.7 +4.2
KXI iShares Global Consumer Staples ETF 1.2 41 19 5.3 +0.8
VTWG Vanguard Russell 2000 Growth ETF 1.2 15 45 1.5 -3.0
IWO iShares Russell 2000 Growth ETF 1.2 24 36 1.5 -3.1
VOE Vanguard Mid-Cap Value ETF 1.2 7 53 7.9 +3.4
VBK Vanguard Small-Cap Growth ETF 1.1 7 53 2.0 -2.5
FFLC Fidelity Fundamental Large Cap Core ETF 1.1 38 22 4.9 +0.4
BKWO BNY Mellon Women's Opportunities ETF 1.1 50 10 3.8 -0.7
SFLO VictoryShares Small Cap Free Cash Flow ETF 1.1 49 11 12.8 +8.3
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.1 75 -15 7.6 +3.1
ABLG Abacus FCF International Leaders ETF 1.1 59 1 6.2 +1.7
OGIG ALPS O'Shares Global Internet Giants ETF 1.1 48 12 1.6 -2.9
SHOC Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF 1.1 40 20 4.0 -0.5
FDVV Fidelity High Dividend ETF 1.1 15 45 8.2 +3.7
KBE SPDR S&P Bank ETF 1.1 35 25 10.3 +5.8
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF 1.0 55 5 11.0 +6.5
SSPX Janus Henderson U.S. Sustainable Equity ETF 1.0 55 5 4.3 -0.2
RDVY First Trust Rising Dividend Achievers ETF 1.0 50 10 7.8 +3.3
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.0 58 2 4.1 -0.4
BUZZ VanEck Social Sentiment ETF 1.0 75 -15 -0.2 -4.8
CZAR Themes Natural Monopoly ETF 1.0 35 25 5.7 +1.2
HDUS Hartford Disciplined US Equity ETF 1.0 19 41 6.0 +1.5
BOUT Innovator IBD Breakout Opportunities ETF 1.0 81 -21 3.1 -1.4
ONEY SPDR Russell 1000 Yield Focus ETF 1.0 20 40 10.0 +5.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 25 4.4 -0.2
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.0 65 -5 3.3 -1.2
CCSO Carbon Collective Climate Solutions US Equity ETF 0.9 35 25 1.2 -3.3
CALF Pacer US Small Cap Cash Cows 100 ETF 0.9 59 1 11.9 +7.4
IGPT Invesco AI and Next Gen Software ETF 0.9 60 0 5.0 +0.4
NUDV Nuveen ESG Dividend ETF 0.9 26 34 7.6 +3.1
XT iShares Exponential Technologies ETF 0.8 46 14 5.7 +1.1
SMOT VanEck Morningstar SMID Moat ETF 0.8 49 11 7.1 +2.6
VAMO Cambria Value & Momentum ETF 0.8 61 -1 6.8 +2.3
IMCV iShares Morningstar Mid-Cap Value ETF 0.8 6 54 8.6 +4.1
RND First Trust Bloomberg R&D Leaders ETF 0.8 60 0 3.8 -0.7
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 0.8 15 45 9.7 +5.1
PSC Principal U.S. Small-Cap ETF 0.8 38 22 7.2 +2.7
FTA First Trust Large Cap Value AlphaDEX Fund 0.7 59 1 9.6 +5.1
QUVU Hartford Quality Value ETF 0.7 46 14 7.4 +2.8
FNX First Trust Mid Cap Core AlphaDEX Fund 0.7 60 0 8.1 +3.6
FDG American Century Focused Dynamic Growth ETF 0.7 45 15 2.2 -2.3
DHS WisdomTree U.S. High Dividend Fund 0.7 38 22 8.4 +3.9
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.7 52 8 5.6 +1.1
FBCG Fidelity Blue Chip Growth ETF 0.7 59 1 3.2 -1.3
FCOM Fidelity MSCI Communication Services Index ETF 0.7 8 52 5.0 +0.5
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.7 58 2 5.6 +1.0
VTWO Vanguard Russell 2000 ETF 0.7 10 50 4.9 +0.4
IWM iShares Russell 2000 ETF 0.7 19 41 4.9 +0.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.7 7 53 6.5 +2.0
RSSL Global X Russell 2000 ETF 0.7 8 52 4.8 +0.3
FDRR Fidelity Dividend ETF for Rising Rates 0.7 15 45 7.7 +3.2
DFLV Dimensional US Large Cap Value ETF 0.7 22 38 8.4 +3.9
ULVM VictoryShares US Value Momentum ETF 0.7 20 40 7.6 +3.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.7 70 -10 3.0 -1.6
VO Vanguard Mid-Cap ETF 0.6 4 56 6.0 +1.5
SOXX iShares Semiconductor ETF 0.6 35 25 5.7 +1.2
IJJ iShares S&P Mid-Cap 400 Value ETF 0.6 18 42 9.5 +5.0
MADE iShares U.S. Manufacturing ETF 0.6 40 20 5.4 +0.9
FEX First Trust Large Cap Core AlphaDEX Fund 0.6 59 1 6.3 +1.8
ONEV SPDR Russell 1000 Low Volatility Focus ETF 0.6 20 40 7.8 +3.3
MDYV SPDR S&P 400 Mid Cap Value ETF 0.6 15 45 9.5 +5.0
STXM Strive Mid-Cap ETF 0.6 18 42 6.6 +2.1
FNK First Trust Mid Cap Value AlphaDEX Fund 0.6 70 -10 12.2 +7.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 0.6 15 45 9.5 +5.0
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF 0.6 50 10 8.5 +4.0
FTXL First Trust Nasdaq Semiconductor ETF 0.6 60 0 6.3 +1.8
FAB First Trust Multi Cap Value AlphaDEX Fund 0.6 67 -7 10.9 +6.3
ANEW ProShares MSCI Transformational Changes ETF 0.6 45 15 6.3 +1.8
EZM WisdomTree U.S. MidCap Fund 0.5 38 22 9.7 +5.2
PTL Inspire 500 ETF 0.5 9 51 5.6 +1.1
IWS iShares Russell Mid-Cap Value ETF 0.5 23 37 7.1 +2.6
BFOR ALPS Barron's 400 ETF 0.5 65 -5 6.2 +1.7
VXF Vanguard Extended Market ETF 0.5 6 54 5.1 +0.6
RSPE Invesco ESG S&P 500 Equal Weight ETF 0.5 20 40 6.8 +2.3
FESM Fidelity Enhanced Small Cap ETF 0.5 28 32 8.2 +3.7
VOX Vanguard Communication Services ETF 0.5 10 50 5.0 +0.5
TXS Texas Capital Texas Equity Index ETF 0.5 49 11 5.9 +1.4
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 0.5 30 30 7.0 +2.5
HKND Humankind US Stock ETF 0.5 11 49 7.5 +3.0
VB Vanguard Small-Cap ETF 0.5 5 55 6.5 +2.0
SHUS Syntax Stratified U.S. Total Market Hedged ETF 0.5 65 -5 6.6 +2.1
SSPY Syntax Stratified LargeCap ETF 0.5 30 30 6.9 +2.4
FTC First Trust Large Cap Growth AlphaDEX Fund 0.5 59 1 2.9 -1.6
IMCB iShares Morningstar Mid-Cap ETF 0.5 4 56 6.3 +1.8
ISCG iShares Morningstar Small-Cap Growth ETF 0.5 6 54 3.0 -1.5
FXL First Trust Technology AlphaDEX Fund 0.5 61 -1 5.9 +1.4
GVLU Gotham 1000 Value ETF 0.5 50 10 9.3 +4.8
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.5 25 35 8.4 +3.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 0.4 60 0 8.5 +4.0
DFUV Dimensional US Marketwide Value ETF 0.4 22 38 8.2 +3.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.4 64 -4 2.4 -2.2
SPHQ Invesco S&P 500 Quality ETF 0.4 15 45 5.2 +0.7
QNXT iShares Nasdaq-100 ex Top 30 ETF 0.4 20 40 4.4 -0.2
STXK Strive Small-Cap ETF 0.4 18 42 6.6 +2.1
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.4 4 56 6.5 +2.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.4 18 42 7.9 +3.4
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.4 15 45 6.3 +1.8
SMLF iShares U.S. SmallCap Equity Factor ETF 0.4 15 45 6.7 +2.2
DFSU Dimensional US Sustainability Core 1 ETF 0.4 18 42 5.7 +1.2
RAYD Rayliant Quantitative Developed Market Equity ETF 0.4 80 -20 4.6 +0.1
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.4 9 51 4.8 +0.3
HLGE Hartford Longevity Economy ETF 0.4 44 16 6.5 +2.0
IWR iShares Russell Midcap ETF 0.4 19 41 6.1 +1.6
FUNL CornerCap Fundametrics Large-Cap ETF 0.4 50 10 7.6 +3.1
XDAT Franklin Exponential Data ETF 0.4 50 10 2.1 -2.4
DEUS Xtrackers Russell US Multifactor ETF 0.4 17 43 7.1 +2.6
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.4 17 43 6.3 +1.7
CFA VictoryShares US 500 Volatility Wtd ETF 0.4 35 25 6.1 +1.6
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.4 10 50 5.5 +1.0
VFMO Vanguard U.S. Momentum Factor ETF 0.4 13 47 3.2 -1.3
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.4 40 20 6.0 +1.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.4 24 36 8.4 +3.9
VFQY Vanguard U.S. Quality Factor ETF 0.4 13 47 6.6 +2.1
FQAL Fidelity Quality Factor ETF 0.4 15 45 5.8 +1.3
CLNR IQ Cleaner Transport ETF 0.4 45 15 6.9 +2.4
DFAS Dimensional U.S. Small Cap ETF 0.3 26 34 7.0 +2.5
ISCB iShares Morningstar Small-Cap ETF 0.3 4 56 6.5 +2.0
KNCT Invesco Next Gen Connectivity ETF 0.3 40 20 5.2 +0.7
JMOM JPMorgan U.S. Momentum Factor ETF 0.3 12 48 4.7 +0.2
DCOR Dimensional US Core Equity 1 ETF 0.3 14 46 5.7 +1.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.3 39 21 6.8 +2.3
EBI Longview Advantage ETF 0.3 35 25 7.0 +2.5
VFMF Vanguard U.S. Multifactor ETF 0.3 18 42 8.4 +3.9
MDY SPDR S&P Midcap 400 ETF Trust 0.3 24 36 7.7 +3.2
IJH iShares Core S&P Mid-Cap ETF 0.3 5 55 7.9 +3.4
EUSA iShares MSCI USA Equal Weighted ETF 0.3 9 51 6.3 +1.8
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 0.3 15 45 7.8 +3.3
STXV Strive 1000 Value ETF 0.3 18 42 8.4 +3.9
DFAC Dimensional U.S. Core Equity 2 ETF 0.3 17 43 5.9 +1.4
DFVX Dimensional US Large Cap Vector ETF 0.3 22 38 6.5 +2.0
SIZE iShares MSCI USA Size Factor ETF 0.3 15 45 6.1 +1.5
BKSE BNY Mellon US Small Cap Core Equity ETF 0.3 4 56 6.5 +2.0
VYM Vanguard High Dividend Yield Index ETF 0.3 6 54 7.5 +3.0
SPMD SPDR Portfolio S&P 400 Mid Cap ETF 0.3 3 57 7.9 +3.4
IVOO Vanguard S&P Mid-Cap 400 ETF 0.3 10 50 7.8 +3.3
GINN Goldman Sachs Innovate Equity ETF 0.3 52 8 4.2 -0.3
GVUS Marketbeta Russell 1000 Value Equity ETF 0.3 12 48 6.8 +2.3
AOTG AOT Growth and Innovation ETF 0.3 75 -15 2.1 -2.4
VTV Vanguard Value ETF 0.3 4 56 7.2 +2.7
DTD WisdomTree U.S. Total Dividend Fund 0.3 28 32 6.6 +2.1
DLN WisdomTree U.S. LargeCap Dividend Fund 0.3 28 32 6.2 +1.7
ROUS Hartford Multifactor US Equity ETF 0.3 19 41 7.3 +2.8
AFSM First Trust Active Factor Small Cap ETF 0.2 75 -15 7.8 +3.3
FSMD Fidelity Small-Mid Multifactor ETF 0.2 15 45 7.5 +2.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.2 21 39 4.1 -0.5
EVUS iShares ESG Aware MSCI USA Value ETF 0.2 18 42 7.1 +2.6
USXF iShares ESG Advanced MSCI USA ETF 0.2 10 50 4.9 +0.4
VLU SPDR S&P 1500 Value Tilt ETF 0.2 12 48 7.9 +3.4
ISCV iShares Morningstar Small Cap Value ETF 0.2 6 54 10.0 +5.5
ONEO SPDR Russell 1000 Momentum Focus ETF 0.2 20 40 7.2 +2.7
VONV Vanguard Russell 1000 Value ETF 0.2 8 52 6.8 +2.3
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF 0.2 5 55 8.3 +3.8
IUSV iShares Core S&P US Value ETF 0.2 4 56 6.8 +2.3
AVLV Avantis U.S. Large Cap Value ETF 0.2 15 45 8.2 +3.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.2 9 51 6.3 +1.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 0.2 19 41 6.6 +2.1
HLAL Wahed FTSE USA Shariah ETF 0.2 50 10 5.1 +0.6
RSP Invesco S&P 500 Equal Weight ETF 0.2 20 40 6.7 +2.2
DFAU Dimensional US Core Equity Market ETF 0.2 12 48 5.4 +0.9
AVSU Avantis Responsible U.S. Equity ETF 0.2 15 45 6.4 +1.9
VOOV Vanguard S&P 500 Value ETF 0.2 10 50 6.6 +2.1
IVE iShares S&P 500 Value ETF 0.2 18 42 6.5 +2.0
SPYV SPDR Portfolio S&P 500 Value ETF 0.2 4 56 6.6 +2.1
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 45 4.9 +0.4
JHMM John Hancock Multifactor Mid Cap ETF 0.2 42 18 6.7 +2.2
IWD iShares Russell 1000 Value ETF 0.2 19 41 6.7 +2.2
SHE SPDR MSCI USA Gender Diversity ETF 0.2 20 40 5.1 +0.6
IMCG iShares Morningstar Mid-Cap Growth ETF 0.2 6 54 4.2 -0.3
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.2 9 51 5.0 +0.5
JEPI JPMorgan Equity Premium Income ETF 0.2 35 25 5.7 +1.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 40 6.2 +1.7
DON WisdomTree U.S. MidCap Dividend Fund 0.2 38 22 9.2 +4.7
MODL VictoryShares WestEnd U.S. Sector ETF 0.2 42 18 4.8 +0.3
VTWV Vanguard Russell 2000 Value ETF 0.2 15 45 8.4 +3.8
IWN iShares Russell 2000 Value ETF 0.2 24 36 8.4 +3.9
ILCV iShares Morningstar Value ETF 0.2 4 56 6.9 +2.4
SUSL iShares ESG MSCI USA Leaders ETF 0.2 10 50 5.2 +0.7
DEW WisdomTree Global High Dividend Fund 0.2 58 2 8.8 +4.3
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 40 7.3 +2.7
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 51 5.0 +0.5
QUS SPDR MSCI USA StrategicFactors ETF 0.2 15 45 5.8 +1.3
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.2 25 35 6.1 +1.6
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 49 5.2 +0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.2 10 50 5.2 +0.7
FLDZ RiverNorth Patriot ETF 0.2 75 -15 6.0 +1.5
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.2 40 20 3.9 -0.7
IGM iShares Expanded Tech Sector ETF 0.2 41 19 4.2 -0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.2 45 15 4.8 +0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.1 12 48 4.8 +0.2
VTI Vanguard Total Stock Market ETF 0.1 3 57 5.2 +0.7
VIS Vanguard Industrials ETF 0.1 10 50 4.8 +0.3
STXG Strive 1000 Growth ETF 0.1 18 42 4.1 -0.4
RWK Invesco S&P MidCap 400 Revenue ETF 0.1 39 21 10.1 +5.6
FMDE Fidelity Enhanced Mid Cap ETF 0.1 23 37 6.1 +1.6
BKLC BNY Mellon US Large Cap Core Equity ETF 0.1 0 60 5.2 +0.7
AVUS Avantis U.S. Equity ETF 0.1 15 45 6.2 +1.7
IDMO Invesco S&P International Developed Momentum ETF 0.1 25 35 5.4 +0.9
STRV Strive 500 ETF 0.1 5 55 5.1 +0.6
DFUS Dimensional U.S. Equity ETF 0.1 9 51 5.1 +0.6
RVRB Reverb ETF 0.1 30 30 4.9 +0.3
KLMN Invesco MSCI North America Climate ETF 0.1 9 51 5.3 +0.8
SPXT ProShares S&P 500 Ex-Technology ETF 0.1 9 51 5.7 +1.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.1 3 57 5.2 +0.7
ESGU iShares ESG Aware MSCI USA ETF 0.1 15 45 5.1 +0.6
VTHR Vanguard Russell 3000 ETF 0.1 10 50 5.2 +0.7
TOV JLens 500 Jewish Advocacy U.S. ETF 0.1 18 42 5.0 +0.4
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 25 5.4 +0.9
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 28 5.2 +0.6
VSLU Applied Finance Valuation Large Cap ETF 0.1 49 11 5.8 +1.3
EPS WisdomTree U.S. LargeCap Fund 0.1 8 52 6.1 +1.5
IYY iShares Dow Jones U.S. ETF 0.1 20 40 5.1 +0.6
CVLC Calvert US Large-Cap Core Responsible Index ETF 0.1 15 45 5.2 +0.7
VGT Vanguard Information Technology ETF 0.1 10 50 4.4 -0.1
DSPY Tema S&P 500 Historical Weight ETF 0.1 18 42 5.4 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.1 29 31 6.7 +2.2
IWV iShares Russell 3000 ETF 0.1 20 40 5.1 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 51 5.2 +0.7
FIDU Fidelity MSCI Industrial Index ETF 0.1 8 52 4.6 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.1 7 53 5.1 +0.6
VV Vanguard Large-Cap ETF 0.1 4 56 5.1 +0.6
QVML Invesco S&P 500 QVM Multi-factor ETF 0.1 11 49 5.3 +0.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 21 6.9 +2.4
QQQ Invesco QQQ Trust Series I 0.1 20 40 4.3 -0.2
QQQM Invesco NASDAQ 100 ETF 0.1 15 45 4.4 -0.2
VONE Vanguard Russell 1000 ETF 0.1 8 52 5.2 +0.7
VFH Vanguard Financials ETF 0.1 10 50 6.6 +2.1
ILCB iShares Morningstar U.S. Equity ETF 0.1 3 57 5.2 +0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 51 4.9 +0.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.1 35 25 6.8 +2.3
VOTE TCW Transform 500 ETF 0.1 5 55 5.2 +0.6
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.1 3 57 5.5 +1.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 40 5.0 +0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 40 6.0 +1.5
VOO Vanguard S&P 500 ETF 0.1 3 57 5.3 +0.8
IVV iShares Core S&P 500 ETF 0.1 3 57 5.3 +0.8
SPLG SPDR Portfolio S&P 500 ETF 0.1 2 58 5.3 +0.8
SPY SPDR S&P 500 ETF Trust 0.1 9 51 5.2 +0.7
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 30 6.2 +1.7
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 51 5.1 +0.6
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 50 6.0 +1.5
APUE ActivePassive U.S. Equity ETF 0.1 45 15 5.0 +0.5
FTEC Fidelity MSCI Information Technology Index ETF 0.1 8 52 4.4 -0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 58 5.2 +0.7
JHML John Hancock Multifactor Large Cap ETF 0.1 29 31 5.6 +1.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 51 5.4 +0.9
PBUS Invesco MSCI USA ETF 0.1 4 56 5.2 +0.7
RWL Invesco S&P 500 Revenue ETF 0.1 39 21 7.1 +2.5
OUSA ALPS O'Shares U.S. Quality Dividend ETF 0.1 48 12 6.1 +1.6
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.1 29 31 4.5 -0.0
IWB iShares Russell 1000 ETF 0.1 15 45 5.2 +0.6
VT Vanguard Total World Stock ETF 0.1 7 53 6.2 +1.7
KOMP SPDR S&P Kensho New Economies Composite ETF 0.1 20 40 3.6 -1.0
QGRO American Century U.S. Quality Growth ETF 0.1 29 31 3.6 -0.9
OALC OneAscent Large Cap Core ETF 0.1 86 -26 4.4 -0.2
TOK iShares MSCI Kokusai ETF 0.1 26 34 5.3 +0.8
URTH iShares MSCI World ETF 0.1 24 36 5.4 +0.9
APIE ActivePassive International Equity ETF 0.1 45 15 7.6 +3.1
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.9 +1.4
SFY SoFi Select 500 ETF 0.1 0 60 4.7 +0.2
FSST Fidelity Sustainable U.S. Equity ETF 0.1 59 1 4.7 +0.2
FELG Fidelity Enhanced Large Cap Growth ETF 0.1 18 42 5.0 +0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 51 6.1 +1.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 27 10.7 +6.1
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.1 24 36 8.3 +3.8
FNCL Fidelity MSCI Financials Index ETF 0.1 8 52 6.5 +2.0
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -5 4.5 0.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 57 7.2 +2.7
FELV Fidelity Enhanced Large Cap Value ETF 0.0 18 42 7.0 +2.5
AFLG First Trust Active Factor Large Cap ETF 0.0 55 5 6.3 +1.8
ILCG iShares Morningstar Growth ETF 0.0 4 56 3.9 -0.6
GSPY Gotham Enhanced 500 ETF 0.0 50 10 5.6 +1.1
HAPI Harbor Human Capital Factor US Large Cap ETF 0.0 36 24 5.1 +0.5
LGDX Intech S&P Large Cap Diversified Alpha ETF 0.0 25 35 5.4 +0.9
DUHP Dimensional US High Profitability ETF 0.0 21 39 6.6 +2.1
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 21 7.2 +2.7
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -29 4.5 +0.0
VFVA Vanguard U.S. Value Factor ETF 0.0 13 47 11.9 +7.4
MTUM iShares MSCI USA Momentum Factor ETF 0.0 15 45 3.6 -0.9
INRO iShares U.S. Industry Rotation Active ETF 0.0 42 18 5.0 +0.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 48 5.3 +0.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 9.0 +4.5
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.0 12 48 4.7 +0.2

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:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.9 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.47 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.