This week marked the launch of Renaissance Capital’s second foray in the world of ETFs. The Renaissance International IPO ETF (NYSE: IPOS) tracks an index newly issued foreign companies.
This ETF joined the NYSE Arca exchange on October 6 and charges a total gross expense ratio of 0.80 percent annually.
Typically new public companies have to wait several months or even years to be considered seasoned enough to join traditional broad-based indexes. However, IPOS allows new companies that meet liquidity and size requirements to be added to its underlying holdings on the fifth day of trading.
In addition, IPOS removes companies when they have more than two years of trading history. ...
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