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 13.45% year-to-date (YTD) with -$12M in YTD flows. FAD performs worse with 12.65% YTD performance, and +$172M 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 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IPO FAD | -9.31%-4.65% | -10.79%-3.39% | +13.45%+12.65% | -1.31%+14.23% | +56.96%+75.64% | -22.95%+51.70% |
| Flows | IPO FAD | -$3M+$18M | -$13M+$75M | -$12M+$172M | -$38M+$197M | -$119M+$267M | -$214M+$227M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IPO FAD | +32.72%+20.08% | +32.32%+20.75% | +29.96%+20.04% | +36.61%+21.46% |
| Max drawdown | IPO FAD | -16.35%-10.67% | -26.15%-10.70% | -32.13%-23.51% | -66.02%-31.99% |
| Max drawdown duration | IPO FAD | 76d73d | 249d81d | 181d230d | 1817d967d |
Trading data
IPO | FAD | |
Last sale 9/15/2026 at 1:30 PM | $51.10 | $178.43 |
| Previous close 09/14/2026 | $51.75 | $180.05 |
| Consolidated volume 09/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 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 9/15/2026 at 1:30 PM
Live
Closed
IPO | FAD | |
|---|---|---|
| Last price | $51.10 | $178.43 |
| 1D performance | -1.26% | -0.90% |
| AuM | $142.25 M | $591.99 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 | 52 | 666 |
| 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
79.23%
United Kingdom
8.58%
Other
12.19%
FAD
USA
96.26%
Other
3.74%
Sectors
IPO
Technology
41.09%
Finance
16.9%
Healthcare
13.81%
Industrials
10.84%
Consumer Services
8.24%
Other
9.12%
FAD
Technology
23.83%
Industrials
20.02%
Healthcare
17.73%
Finance
14.43%
Other
23.99%
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Diversification
IPO
Total weight of top 15 holdings out of 15
67.46%
FAD
Total weight of top 15 holdings out of 15
7.04%
Top 15 holdings
Data as of July 31, 2026
IPO
Astera Labs, Inc.
9.19%
CoreWeave, Inc.
7.74%
Arm Holdings Plc
6.82%
Reddit, Inc.
6.11%
Viking Holdings Ltd. (Bermuda)
6.02%
Medline, Inc.
5.74%
Rubrik, Inc.
3.65%
Circle Internet Group, Inc.
3.65%
American Healthcare REIT, Inc.
3.46%
BrightSpring Health Services, Inc.
3.10%
Kaspi.kz JSC
3.07%
UL Solutions, Inc.
2.29%
Cerebras Systems, Inc.
2.24%
Maplebear, Inc.
2.22%
StandardAero, Inc.
2.18%
FAD
Incyte Corp.
0.53%
Everpure, Inc.
0.53%
Lumentum Holdings, Inc.
0.49%
Interactive Brokers Group, Inc.
0.49%
Dell Technologies, Inc.
0.48%
Fortinet, Inc.
0.47%
Morgan Stanley
0.47%
Illumina, Inc.
0.46%
United Rentals, Inc.
0.46%
EMCOR Group, Inc.
0.45%
Natera, Inc.
0.45%
Medpace Holdings, Inc.
0.44%
Quanta Services, Inc.
0.44%
eBay, Inc.
0.44%
Analog Devices, Inc.
0.44%
Frequently asked questions about IPO and FAD
How have the IPO and FAD ETFs performed in 2026?
As of September 14, 2026, IPO is up 13.45% year-to-date (YTD), while FAD has returned 12.65%. That puts IPO 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 +$172M for FAD.
Which ETF is more volatile: IPO or FAD?
Over the past year, IPO had a volatility of 32.32%, while FAD experienced 20.75%.
Which ETF is bigger: IPO or FAD?
As of September 14, 2026, IPO holds $142.25 M in assets under management (AUM), while FAD manages $591.99 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., CoreWeave, Inc. and Arm Holdings Plc. FAD holds in its top three: Incyte Corp., Everpure, Inc. and Lumentum Holdings, Inc..
Which ETF is more diversified: IPO or FAD?
IPO holds 52 securities with 67.46% of its assets in the top 15. FAD has 666 securities and a top 15 weight of 7.04%.
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