IPOvsFFLSETF Comparison
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Renaissance IPO ETF (IPO) belongs to the US Multi-Factor segment. The Future Fund Long/Short ETF (FFLS) is part of the Alternatives segment. IPO's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, FFLS's top sector exposures are Technology, Industrials and Healthcare. IPO is less expensive with a Total Expense Ratio (TER) of 0.6%, versus 2.05% for FFLS. IPO is up 12.68% year-to-date (YTD) with -$12M in YTD flows. FFLS performs worse with -1.98% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of IPO and FFLS 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 FFLS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IPO FFLS | -9.46%-5.80% | -10.30%-0.39% | +12.68%-1.98% | -2.56%-5.95% | +57.74%+25.40% | -25.13%n/a |
| Flows | IPO FFLS | -$3M+$1M | -$13M+$2M | -$12M+$6M | -$38M+$8M | -$119M+$42M | -$214M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IPO FFLS | +32.48%+13.18% | +32.28%+10.87% | +29.96%+11.23% | +36.60%n/a |
| Max drawdown | IPO FFLS | -16.35%-6.17% | -26.15%-11.13% | -32.13%-11.13% | -66.02%n/a |
| Max drawdown duration | IPO FFLS | 78d28d | 249d364d | 181d364d | 1819dn/a |
Trading data
IPO | FFLS | |
Last sale 9/16/2026 at 7:59 PM | $51.36 | $22.92 |
| Previous close 09/16/2026 | $51.10 | $22.74 |
| Consolidated volume 09/16/2026 | ||
| 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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FFLS
is actively managed and doesn’t replicate an indexIPO | FFLS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/16/2026 at 7:59 PM
Live
Closed
IPO | FFLS | |
|---|---|---|
| Last price | $51.36 | $22.92 |
| 1D performance | +0.51% | +0.75% |
| AuM | $141.28 M | $44.12 M |
| E/R | 0.6% | 2.05% |
Characteristics
IPO | FFLS | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Renaissance Capital | Future Fund ETF |
| Benchmark | Renaissance IPO Index | - |
| N° of holdings | 52 | 37 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 14, 2013 | June 21, 2023 |
| ESG | No | No |
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Exposure
Countries
IPO
USA
79.23%
United Kingdom
8.58%
Other
12.19%
FFLS
USA
72.17%
Other
27.83%
Sectors
IPO
Technology
41.09%
Finance
16.9%
Healthcare
13.81%
Industrials
10.84%
Consumer Services
8.24%
Other
9.12%
FFLS
Technology
28.16%
Industrials
19.62%
Healthcare
12.35%
Consumer Non-Cycl.
11.53%
Other
28.35%
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Diversification
IPO
Total weight of top 15 holdings out of 15
67.46%
FFLS
Total weight of top 15 holdings out of 15
47.11%
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%
FFLS
Amazon.com, Inc.
5.50%
Halozyme Therapeutics, Inc.
4.44%
Alphabet, Inc.
3.94%
NVIDIA Corp.
3.51%
Block, Inc.
3.35%
Edwards Lifesciences Corp.
3.24%
Safran SA
2.87%
Guardant Health, Inc.
2.69%
Embraer SA
2.67%
Equinix, Inc.
2.66%
Broadcom Inc.
2.57%
Axon Enterprise, Inc.
2.54%
Alibaba Group Holding Ltd.
2.46%
HealthEquity, Inc.
2.40%
BWX Technologies, Inc.
2.28%
Frequently asked questions about IPO and FFLS
How have the IPO and FFLS ETFs performed in 2026?
As of September 16, 2026, IPO is up 12.68% year-to-date (YTD), while FFLS has lost -1.98%. That puts IPO better performer ahead so far this year.
Which ETF is attracting more investor money: IPO or FFLS?
Year-to-date, the IPO ETF saw -$12M in flows, compared to +$6M for FFLS.
Which ETF is more volatile: IPO or FFLS?
Over the past year, IPO had a volatility of 32.28%, while FFLS experienced 10.87%.
Which ETF is bigger: IPO or FFLS?
As of September 16, 2026, IPO holds $141.28 M in assets under management (AUM), while FFLS manages $44.12 M.
What sectors do the IPO and FFLS ETFs invest in?
IPO leans toward sectors like Technology, Finance and Healthcare. Meanwhile, FFLS focuses on Technology, Industrials and Healthcare.
What are the top holdings of the IPO ETF and FFLS ETF?
IPO top holdings include Astera Labs, Inc., CoreWeave, Inc. and Arm Holdings Plc. FFLS holds in its top three: Amazon.com, Inc., Halozyme Therapeutics, Inc. and Alphabet, Inc..
Which ETF is more diversified: IPO or FFLS?
IPO holds 52 securities with 67.46% of its assets in the top 15. FFLS has 37 securities and a top 15 weight of 47.11%.
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Latest news about IPO & FFLS
There's an ETF for That? Investing in IPOs, Mergers, and Spin-Offs
April 10, 2024
IPO
Investing in the Megatrends of the Future
August 24, 2023
FFLS
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