IPOvsFADETF Comparison
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Renaissance IPO ETF (IPO) and First Trust Multi Cap Growth AlphaDEX Fund ETF (FAD) belong to the same industry segment: US Multi-Factor. IPO's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, FAD's top sector exposures are Technology, Industrials and Healthcare. IPO is less expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.63% for FAD. IPO is up 3.8% year-to-date (YTD) with -$12M in YTD flows. FAD performs better with 12.5% YTD performance, and +$190M in YTD flows. Run a side-by-side ETF comparison of IPO and FAD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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IPO vs FAD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IPO FAD | -10.11%+0.04% | -9.41%+1.84% | +3.80%+12.50% | -0.60%+10.41% | +61.85%+96.08% | -30.91%+46.84% |
| Flows | IPO FAD | -+$9M | -$8M+$45M | -$12M+$190M | -$23M+$206M | -$99M+$290M | -$201M+$245M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IPO FAD | +32.49%+17.86% | +32.95%+20.74% | +30.19%+19.99% | +36.76%+21.46% |
| Max drawdown | IPO FAD | -17.18%-9.76% | -20.51%-12.44% | -32.13%-23.51% | -65.66%-31.99% |
| Max drawdown duration | IPO FAD | 78d73d | 122d121d | 181d230d | 1822d967d |
Trading data
IPO | FAD | |
Last sale 11/2/2026 at 2:30 PM | $46.33 | $175.06 |
| Previous close 10/30/2026 | $47.31 | $176.89 |
| Consolidated volume 10/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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IPO | FAD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/2/2026 at 2:30 PM
Live
Closed
IPO | FAD | |
|---|---|---|
| Last price | $46.33 | $175.06 |
| 1D performance | -2.07% | -1.03% |
| AuM | $130.14 M | $609.25 M |
| E/R | 0.6% | 0.63% |
Characteristics
IPO | FAD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Renaissance Capital | First Trust |
| Benchmark | Renaissance IPO Index | NASDAQ AlphaDEX Multi Cap Growth Index |
| N° of holdings | 54 | 669 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 14, 2013 | May 8, 2007 |
| ESG | No | No |
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Exposure
Countries
IPO
USA
80.44%
Republic of Korea
9.58%
Other
9.98%
FAD
USA
96.73%
Other
3.27%
Sectors
IPO
Technology
45.33%
Finance
14.65%
Healthcare
13.24%
Telecommunication.
9.87%
Industrials
8.58%
Other
8.34%
FAD
Technology
26.65%
Industrials
19.45%
Healthcare
17.55%
Finance
13.85%
Other
22.5%
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Diversification
IPO
Total weight of top 15 holdings out of 15
73.39%
FAD
Total weight of top 15 holdings out of 15
8.14%
Top 15 holdings
Data as of September 30, 2026
IPO
Astera Labs, Inc.
12.09%
Space Exploration Technologies Corp.
9.87%
SK hynix, Inc.
9.58%
CoreWeave, Inc.
7.09%
Reddit, Inc.
5.10%
Rubrik, Inc.
4.63%
Medline, Inc.
4.06%
Circle Internet Group, Inc.
3.83%
Viking Holdings Ltd. (Bermuda)
3.62%
Kaspi.kz JSC
2.61%
American Healthcare REIT, Inc.
2.55%
BrightSpring Health Services, Inc.
2.43%
Tempus AI, Inc.
2.29%
Forgent Power Solutions, Inc.
1.85%
Chime Financial, Inc.
1.80%
FAD
Everpure, Inc.
0.66%
Dell Technologies, Inc.
0.61%
Natera, Inc.
0.59%
Lumentum Holdings, Inc.
0.59%
Illumina, Inc.
0.59%
Fortinet, Inc.
0.57%
CrowdStrike Holdings, Inc.
0.54%
Advanced Micro Devices, Inc.
0.52%
Keysight Technologies, Inc.
0.52%
Datadog, Inc.
0.52%
Analog Devices, Inc.
0.50%
Incyte Corp.
0.50%
Seagate Technology Holdings Plc
0.48%
Interactive Brokers Group, Inc.
0.48%
Arista Networks, Inc.
0.47%
Frequently asked questions about IPO and FAD
How have the IPO and FAD ETFs performed in 2026?
As of October 30, 2026, IPO is up 3.8% year-to-date (YTD), while FAD has returned 12.5%. That puts FAD better performer ahead so far this year.
Which ETF is attracting more investor money: IPO or FAD?
Year-to-date, the IPO ETF saw -$12M in flows, compared to +$190M for FAD.
Which ETF is more volatile: IPO or FAD?
Over the past year, IPO had a volatility of 32.95%, while FAD experienced 20.74%.
Which ETF is bigger: IPO or FAD?
As of October 30, 2026, IPO holds $130.14 M in assets under management (AUM), while FAD manages $609.25 M.
What sectors do the IPO and FAD ETFs invest in?
IPO leans toward sectors like Technology, Finance and Healthcare. Meanwhile, FAD focuses on Technology, Industrials and Healthcare.
What are the top holdings of the IPO ETF and FAD ETF?
IPO top holdings include Astera Labs, Inc., Space Exploration Technologies Corp. and SK hynix, Inc.. FAD holds in its top three: Everpure, Inc., Dell Technologies, Inc. and Natera, Inc..
Which ETF is more diversified: IPO or FAD?
IPO holds 54 securities with 73.39% of its assets in the top 15. FAD has 669 securities and a top 15 weight of 8.14%.
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