Renaissance IPO ETF
Before you invest in the Renaissance IPO ETF, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks.
The U.S. Securities and Exchange Commission has not approved or disapproved these securities or passed upon the accuracy or adequacy of this Prospectus. Any representation to the contrary is a criminal offense.
This Statement of Additional Information is not a prospectus. It should be read in conjunction with the current Prospectus.
The Renaissance IPO ETF and Renaissance International IPO ETF Annual Report for the year ended September 30.
The Renaissance IPO ETF and Renaissance International IPO ETF Semi-Annual Report for the period ended March 31.
The Renaissance IPO ETF and the Renaissance International IPO ETF quarterly distribution schedule.
The Renaissance IPO Index is a rolling two-year population of newly public companies held ahead of their inclusion in core U.S. equity indices and portfolios. IPOs that meet liquidity and operational screens, are included in the Index on a fast entry basis, or upon quarterly reviews, weighted by float capitalization, capped at 10% and removed after two years. The Index is designed by Renaissance Capital and calculated by FTSE Group.
With an average of $135 billion raised annually, the global IPO market is sizable and sustainable. Even during very weak market periods, such as the 2008 financial crisis, the IPO window has historically reopened after several months. Newly public companies represent an economically significant segment of the equity markets.
Research shows that Renaissance IPO ETFs have minimal overlap to broad-based ETFs.