The Renaissance IPO Index® is a comprehensive benchmark index designed to capture the essence of IPO activity and performance. It is the first index to incorporate the truly investable IPO universe by using float-adjusted shares and to account for the unseasoned nature of the asset class by including a rolling two-year population of IPOs starting from the first day of trading. The Index includes all institutionally-investable U.S.-listed IPOs, capturing over 95% of the total market value of the IPO universe.

IPOs are a unique asset class. Unlike seasoned equities, IPOs have limited research coverage, lack historical trading patterns, have untested governance and are delayed in their inclusion in major indices. A wide variety of entrepreneurial companies and established private entities make their debut in the IPO market, disclosing the details of their operations for the first time. These companies can emerge as trendy small cap stocks, such as online photo merchandise manufacturer Shutterfly, or large cap enterprises, such as credit card provider Visa. Moreover, new industries, such as solar power and on-demand software, frequently establish their sectors initially through the IPO market. These exciting new firms and industries are typically under-represented in established indices. It is these special attributes of IPOs that enable an index of IPOs to add unique returns to investors’ portfolios.

Find out more about The Renaissance IPO Index.