Renaissance IPO ETF (IPO) Performance
IPO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.1% since Dec 31, 2025
- 1 year
- −0.6% total return
- 5 years
- −6.6% a year
- 10 years
- +9.0% a year
- Since first price
- +7.3% a year since 2013
IPO trailing returns vs SPY, QQQ, AGG
| Period | IPO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −10.0% | −10.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −8.8% | −8.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.1% | −1.2% | +7.8% | +8.4% | −1.5% |
| YTD | +6.1% | +5.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −0.6% | −0.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +60.1%+17.0%/yr | +58.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −28.8%−6.6%/yr | −29.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +137.4%+9.0%/yr | +131.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionOct 21, 2013 | +148.8%+7.3%/yr | +134.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IPO vs SPY
From Oct 21, 2013: IPO grew to $24,877, SPY to $54,212.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IPO returns by calendar year
7 of 12 full years positive. Best 2020 (+107.9%), worst 2022 (−57.3%). 2026 is year to date.
IPO annual returns table
| Year | IPO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.1% | −19.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.4% | −32.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.7% | −15.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +52.5% | −20.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −57.3% | −58.4% | −18.2% | −32.6% | −13.0% |
| 2021 | −10.3% | −29.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +107.9% | −38.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +34.4% | −17.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −17.2% | −31.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +37.2% | −5.0% | +21.7% | +32.7% | +3.6% |
| 2016 | −0.6% | −21.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −8.4% | −23.0% | +1.2% | +9.4% | +0.5% |
| 2014 | +7.4% | −13.2% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IPO largest drawdowns
Now 35.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2021 | −68.8% | Dec 28, 2022 | not yet | 1.9 years | 5.7 years so far |
| Feb 19, 2020 | −38.5% | Mar 18, 2020 | May 20, 2020 | 28 days | 3 months |
| Apr 16, 2015 | −36.7% | Feb 11, 2016 | May 15, 2017 | 10 months | 2.1 years |
| Jun 18, 2018 | −31.3% | Dec 24, 2018 | May 3, 2019 | 6 months | 10 months |
| Jul 26, 2019 | −17.6% | Oct 2, 2019 | Jan 16, 2020 | 2 months | 6 months |
| Mar 5, 2014 | −13.2% | May 9, 2014 | Sep 8, 2014 | 2 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IPO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +18.4% | −3.8% | +9.8% | +8.1% |
| Volatility (annualized) | 27.4% | 30.0% | 27.9% | 26.0% |
| Sharpe ratio | 0.59 | -0.10 | 0.39 | 0.36 |
| Sortino ratio | 0.98 | -0.14 | 0.62 | 0.56 |
| Best month | +16.8% | +16.8% | +27.2% | +27.2% |
| Worst month | −13.9% | −19.6% | −19.6% | −19.6% |
| Best 12 months | +50.4% | +52.5% | +136.1% | +136.1% |
| Worst 12 months | −9.3% | −59.2% | −59.2% | −59.2% |
| Positive months | 56% | 45% | 54% | 55% |
| Beta vs S&P 500 | 1.71 | 1.36 | 1.29 | — |
| Correlation with S&P 500 | 0.78 | 0.71 | 0.71 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IPO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 145 | −59.2% | +11.6% | +136.1% | 68% |
| 3-year (a year) | 121 | −20.6% | +7.7% | +37.7% | 74% |
| 5-year (a year) | 97 | −8.1% | +5.7% | +31.6% | 84% |
| 10-year (a year) | 37 | +4.4% | +7.0% | +12.2% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
IPO performance overview
Renaissance IPO ETF (IPO) returned −0.6% over the past year and +9.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +7.3% a year, turning $10,000 into about $24,877. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −68.8%, from Feb 12, 2021 to Dec 28, 2022; the fund has not yet regained that high. IPO finished 7 of its 12 full calendar years with a gain; the best year was 2020 (+107.9%) and the worst 2022 (−57.3%). Volatility has been 26.0% a year.
Related: IPO chart, IPO holdings, IPO dividends, IPO valuation. See the IPO overview for the latest quote and fund facts.
IPO performance FAQ
What is the IPO return over the past year?
IPO returned −0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 0.7%.
What is the average annual return of IPO?
IPO has returned −6.6% a year over 5 years, +9.0% a year over 10 years, +7.3% a year since October 21, 2013 (total return, distributions reinvested).
How much would $10,000 invested in IPO be worth?
$10,000 invested in IPO at its first recorded close on October 21, 2013 would be worth about $24,877 on October 23, 2026 with distributions reinvested.
What was the worst year for IPO?
The worst calendar year was 2022, with a total return of −57.3%. The best was 2020 at +107.9%.
What is the biggest drawdown of IPO?
The largest peak-to-trough decline was −68.8% between February 12, 2021 and December 28, 2022. It has not yet recovered to that high; it is 35.9% below its peak.
How volatile is IPO?
Over the past 3 years IPO had an annualized volatility of 27.4% and a Sharpe ratio of 0.59 (excess return over 1–3 month T-bills per unit of risk).