Surge in IL-based drug maker Abbvie propels IPOX 100 U.S. Index to big outsized gain
IPOX Schuster LLC, the innovative Chicago-based Financial Services Firm behind the IPOX Indexes, is pleased to note fresh all-time highs in its IPOX U.S. Indexes, including the IPOX Composite U.S., IPOX 100 U.S. and IPOX 30 U.S. The IPOX U.S. Indexes provide semi-passive exposure to the aftermarket performance of U.S. IPOs and Spin-offs, often a pure proxy for economic innovation and growth.
Return drivers of today’s market beating returns continued to be strong earnings, including by IPOX heavyweight IL-based drug maker Abbvie (ABBV US: +7.66%).
The IPOX 100 U.S. serves as the underlying benchmark for the USD billion 1.1 First Trust U.S. Equity Opportunities Fund (ticker: FPX), a NYSE-traded Exchange Traded Index Fund (ETF). Since launch in 2006, the ETF recorded an annualized gain of +12.49% vs. 9.13% for the ETF tracking the S&P 500 (SPY), yardstick for U.S. stocks.