TMATvsIPOETF Comparison
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Main Thematic Innovation ETF (TMAT) belongs to the Multiple Trends segment. Renaissance IPO ETF (IPO) is part of the US Multi-Factor segment. TMAT's top 3 sector exposures are Technology, Industrials and Healthcare. In contrast, IPO's top sector exposures are Technology, Finance and Healthcare. TMAT is more expensive with a Total Expense Ratio (TER) of 0.82%, versus 0.6% for IPO. TMAT is up 9.25% year-to-date (YTD) with +$29M in YTD flows. IPO performs worse with 3.8% YTD performance, and -$12M in YTD flows. Run a side-by-side ETF comparison of TMAT and IPO 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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TMAT vs IPO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMAT IPO | -8.33%-10.11% | -1.09%-9.41% | +9.25%+3.80% | -2.10%-0.60% | +115.27%+61.85% | +14.18%-30.91% |
| Flows | TMAT IPO | +$3M- | +$8M-$8M | +$29M-$12M | +$27M-$23M | +$49M-$99M | +$93M-$201M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMAT IPO | +29.07%+32.49% | +28.89%+32.95% | +29.29%+30.19% | +31.55%+36.76% |
| Max drawdown | TMAT IPO | -12.94%-17.18% | -21.37%-20.51% | -33.46%-32.13% | -51.77%-65.66% |
| Max drawdown duration | TMAT IPO | 24d78d | 187d122d | 129d181d | 1338d1822d |
Trading data
TMAT | IPO | |
Last sale 10/30/2026 at 1:30 PM | $27.31 | $47.31 |
| Previous close 10/29/2026 | $28.64 | $50.47 |
| 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 September 30, 2026
1-year trailing difference
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TMAT
is actively managed and doesn’t replicate an indexTMAT | IPO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 10/30/2026 at 1:30 PM
Live
Closed
TMAT | IPO | |
|---|---|---|
| Last price | $27.31 | $47.31 |
| 1D performance | -4.64% | -6.26% |
| AuM | $241.79 M | $130.14 M |
| E/R | 0.82% | 0.6% |
Characteristics
TMAT | IPO | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Main Management ETF Advisors | Renaissance Capital |
| Benchmark | - | Renaissance IPO Index |
| N° of holdings | 84 | 54 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 29, 2021 | October 14, 2013 |
| ESG | No | No |
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Exposure
Countries
TMAT
USA
90.68%
Other
9.32%
IPO
USA
80.44%
Republic of Korea
9.58%
Other
9.98%
Sectors
TMAT
Technology
52.8%
Industrials
19.87%
Healthcare
13.22%
Non-Energy Materi.
11.49%
Other
2.62%
IPO
Technology
45.33%
Finance
14.65%
Healthcare
13.24%
Telecommunication.
9.87%
Industrials
8.58%
Other
8.34%
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Diversification
TMAT
Total weight of top 15 holdings out of 15
38.95%
IPO
Total weight of top 15 holdings out of 15
73.39%
Top 15 holdings
Data as of September 30, 2026
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%
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%
Frequently asked questions about TMAT and IPO
How have the TMAT and IPO ETFs performed in 2026?
As of October 30, 2026, TMAT is up 9.25% year-to-date (YTD), while IPO has returned 3.8%. That puts TMAT better performer ahead so far this year.
Which ETF is attracting more investor money: TMAT or IPO?
Year-to-date, the TMAT ETF saw +$29M in flows, compared to -$12M for IPO.
Which ETF is more volatile: TMAT or IPO?
Over the past year, TMAT had a volatility of 28.89%, while IPO experienced 32.95%.
Which ETF is bigger: TMAT or IPO?
As of October 30, 2026, TMAT holds $241.79 M in assets under management (AUM), while IPO manages $130.14 M.
What sectors do the TMAT and IPO ETFs invest in?
TMAT leans toward sectors like Technology, Industrials and Healthcare. Meanwhile, IPO focuses on Technology, Finance and Healthcare.
What are the top holdings of the TMAT ETF and IPO ETF?
TMAT top holdings include Micron Technology, Inc., Palo Alto Networks, Inc. and Vicor Corp.. IPO holds in its top three: Astera Labs, Inc., Space Exploration Technologies Corp. and SK hynix, Inc..
Which ETF is more diversified: TMAT or IPO?
TMAT holds 84 securities with 38.95% of its assets in the top 15. IPO has 54 securities and a top 15 weight of 73.39%.
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Latest news about TMAT & IPO
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