IPO1 – Renaissance IPO ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the index. It normally invests at least 80% of its total assets in securities that comprise the index. The index is a portfolio of companies that have recently completed an initial public offering ("IPO") and are listed on a U.S. exchange. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
IPO1	Renaissance IPO ETF	ETF	Open	—		Oct 16, 2013	—	0.600%	—	—	—
IPO	Renaissance IPO ETF	ETF	Open			Oct 16, 2013	$147.44M	0.600%	—	—	−$38.86M

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