IPOvsTMATETF Comparison
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Renaissance IPO ETF (IPO) belongs to the US Multi-Factor segment. Main Thematic Innovation ETF (TMAT) is part of the Multiple Trends segment. IPO's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, TMAT's top sector exposures are Technology, Industrials and Healthcare. IPO is less expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.82% for TMAT. IPO is up 3.8% year-to-date (YTD) with -$12M in YTD flows. TMAT performs better with 9.25% YTD performance, and +$29M in YTD flows. Run a side-by-side ETF comparison of IPO and TMAT 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 TMAT 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 TMAT | -10.11%-8.33% | -9.41%-1.09% | +3.80%+9.25% | -0.60%-2.10% | +61.85%+115.27% | -30.91%+14.18% |
| Flows | IPO TMAT | -+$3M | -$8M+$8M | -$12M+$29M | -$23M+$27M | -$99M+$49M | -$201M+$93M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IPO TMAT | +32.49%+29.07% | +32.95%+28.89% | +30.19%+29.29% | +36.76%+31.55% |
| Max drawdown | IPO TMAT | -17.18%-12.94% | -20.51%-21.37% | -32.13%-33.46% | -65.66%-51.77% |
| Max drawdown duration | IPO TMAT | 78d24d | 122d187d | 181d129d | 1822d1338d |
Trading data
IPO | TMAT | |
Last sale 10/30/2026 at 1:30 PM | $47.31 | $27.31 |
| Previous close 10/29/2026 | $50.47 | $28.64 |
| Consolidated volume 10/29/2026 | ||
| 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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TMAT
is actively managed and doesn’t replicate an indexIPO | TMAT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/30/2026 at 1:30 PM
Live
Closed
IPO | TMAT | |
|---|---|---|
| Last price | $47.31 | $27.31 |
| 1D performance | -6.26% | -4.64% |
| AuM | $130.14 M | $241.79 M |
| E/R | 0.6% | 0.82% |
Characteristics
IPO | TMAT | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Renaissance Capital | Main Management ETF Advisors |
| Benchmark | Renaissance IPO Index | - |
| N° of holdings | 54 | 84 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 14, 2013 | January 29, 2021 |
| ESG | No | No |
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Exposure
Countries
IPO
USA
80.44%
Republic of Korea
9.58%
Other
9.98%
TMAT
USA
90.68%
Other
9.32%
Sectors
IPO
Technology
45.33%
Finance
14.65%
Healthcare
13.24%
Telecommunication.
9.87%
Industrials
8.58%
Other
8.34%
TMAT
Technology
52.8%
Industrials
19.87%
Healthcare
13.22%
Non-Energy Materi.
11.49%
Other
2.62%
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Diversification
IPO
Total weight of top 15 holdings out of 15
73.39%
TMAT
Total weight of top 15 holdings out of 15
38.95%
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%
TMAT
Micron Technology, Inc.
5.08%
Palo Alto Networks, Inc.
4.96%
Vicor Corp.
2.82%
Rubrik, Inc.
2.73%
Fortinet, Inc.
2.70%
Lumentum Holdings, Inc.
2.61%
Hinge Health, Inc.
2.53%
Advanced Micro Devices, Inc.
2.45%
Cloudflare, Inc.
2.09%
Keysight Technologies, Inc.
2.07%
Varonis Systems, Inc.
1.94%
Ero Copper Corp.
1.78%
Twist Bioscience Corp.
1.75%
Hudbay Minerals, Inc.
1.72%
Clear Secure, Inc.
1.72%
Frequently asked questions about IPO and TMAT
How have the IPO and TMAT ETFs performed in 2026?
As of October 30, 2026, IPO is up 3.8% year-to-date (YTD), while TMAT has returned 9.25%. That puts TMAT better performer ahead so far this year.
Which ETF is attracting more investor money: IPO or TMAT?
Year-to-date, the IPO ETF saw -$12M in flows, compared to +$29M for TMAT.
Which ETF is more volatile: IPO or TMAT?
Over the past year, IPO had a volatility of 32.95%, while TMAT experienced 28.89%.
Which ETF is bigger: IPO or TMAT?
As of October 30, 2026, IPO holds $130.14 M in assets under management (AUM), while TMAT manages $241.79 M.
What sectors do the IPO and TMAT ETFs invest in?
IPO leans toward sectors like Technology, Finance and Healthcare. Meanwhile, TMAT focuses on Technology, Industrials and Healthcare.
What are the top holdings of the IPO ETF and TMAT ETF?
IPO top holdings include Astera Labs, Inc., Space Exploration Technologies Corp. and SK hynix, Inc.. TMAT holds in its top three: Micron Technology, Inc., Palo Alto Networks, Inc. and Vicor Corp..
Which ETF is more diversified: IPO or TMAT?
IPO holds 54 securities with 73.39% of its assets in the top 15. TMAT has 84 securities and a top 15 weight of 38.95%.
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Latest news about IPO & TMAT
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