IPOX 100 U.S. extends gains as social networker SNAP Inc. – shunned by the major indexes – surges after earnings

IPOX 100 U.S. extends gains as social networker SNAP Inc. – shunned by the major indexes – surges after earnings

Snap (SNAP US) is a member of the IPOX Indexes, including the IPOX U.S. Composite, IPOX 100 U.S. and IPOX 30 U.S. In an interesting development last year, Snap had been shunned by the major index providers for consideration due to its unusual voting rights structure, often a major feature of unique and innovative IPOs, such as Google and Facebook.

The IPOX 100 U.S. (IPXO) serves as the basis for the USD billion 1.03 First Trust U.S. Equity Opportunities Fund (ticker: FPX), an exchange-traded fund. Since launch in 2006, FPX has recorded an annualized return of +11.05% vs. 6.44% and 6.07% for the ETFs linked to the S&P 500 (SPY) and Russell 2000 (IWM), respectively.

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