New IPO ETF opens for trade tomorrow

|By:, SA News Editor

Launching tomorrow is Renaissance Capital's IPO ETF (IPO) which - as the name suggests - offers investors exposure to a broad range of IPOs. The fund will track Renaissance's own IPO index and have an expense ratio of 0.6%.

A competing ETF is the First Trust U.S. IPO Fund (FPX) which has been around for seven years, has $81M in AUM, and has tripled the return of the S&P 500 during that span. FPX's expense ratio is also 0.6%.