persistent underperformance versus broad market
The Renaissance IPO ETF (IPO) is a poor long‑term vehicle — it has underperformed VTI by more than six percentage points annualized since October 2013, reflecting persistent secondary‑market underperformance of IPOs and the ETF's concentrated exposure to early‑stage, low‑profitability issuers.
The Renaissance IPO ETF has lagged VTI by over six percentage points annualized since October 2013, driven by concentrated exposure to early-stage, low-profitability issuers that structurally underperform in secondary markets.
Publish-day $42.43 · 04/05
"SpaceX and OpenAI: The Mega IPO Grift"