IPOX 100 U.S. in focus as Snap Inc. soars 30% / ETF: FPX
IPOX Schuster LLC (“IPOX”), is pleased to note big gains in U.S. social networker 03/2017 IPO, NYSE listed Snap Inc. (SNAP US) after reporting better-than-expected quarterly numbers. The company which had risen +74.22% YTD before the announcement, rose above +30% in the morning trading Wednesday.
The company is a top portfolio holding in several IPOX Indexes and respective Financial Products, including the benchmark IPOX 100 U.S. Index (IPXO) with a ca. 6% weight.
“When going public, Snap was deemed ineligible by some of the major index providers, including FTSE Russell and S&P Dow Jones Indexes due to its multi-class share structure, often applied by unique and innovative Initial Public Offerings (IPOs.). Snap’s performance once more underline the benefits of using the IPOX Indexes to achieve asset-allocation benefits away from the main benchmarks” said Dr. Josef Schuster, founder of IPOX.
ETFs tracking the IPOX 100 U.S. (IPXO) include the $1.6 billion First Trust Equity Opportunities ETF (Ticker: FPX). With a current beta of 1.09, the ETF has more than doubled the performance of the ETF linked to the S&P 500 Index (SPY) since its 2006 launch by investing in U.S. domiciled IPOs, Spin-offs, and IPO M&A.
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