IPOX 100 U.S. (IPXO) records best ever start to New Year as IPOX Indexes jump, most outperform. The IPOX Indexes continued their huge bounce since December expiration with the FANG-free, diversified IPOX 100 U.S. (IPXO) extending last week’s gains to record the best ever start to a New Year, adding a massive +5.14% last week to +6.49% YTD, +260 bps. ahead of the S&P 500 (SPX: +2.54%) benchmark for U.S. stocks. Just 8% of the large-cap centric IPOX 100 U.S. (IPXO) fell. Amid a change in U.S. market leadership away from the S&P 500 (SPX) and Nasdaq 100 (NDX: +2.78%) ahead of U.S. option expiration, select IPOX-held small-caps contributed to the strong showing, including auto vending machine operator Carvana (CVNA US: +19.56%), biotech Guardant Health (GH US: +18.62%) or software maker Anaplan (PLAN US: +18.46%), while Amazon’s (AMZN US: +5.34%) plan to enter its business pressured database software maker MongoDB (MDB US: -8.87%). Big (relative) gains extended to Europe (IPOE, IPND) and (Developed) Asia-Pacific (IPTA), while phone maker Xiaomi (1810 HK: -13.55%) fell after the expiration of lock-ups, pressuring the IPOX China (CNI: +1.70%), e.g.
Following Nasdaq 100 (QQQ) ejection, “FPX” ETF now viable option to track IPO M&A Takeda (TAK US) as Shire/Baxalta deal consummates. Amid massive corporate (IPO) M&A in the sector (e.g. LOXO US: +66.34%), we note big returns in IPOX heavyweight drug maker Takeda (TAK US: +12.54%) following its Dec. 21st, 2017 ejection from the Nasdaq 100 (ETF: QQQ) and consummation of the IPOX-held Shire/Baxalta deal, leaving the “FPX” ETF as a viable option to track the highly liquid stock.
IPOX® 100 U.S. Investing with the “FPX” ETF since 2006
Last week’s IPOX-linked ETF performance: The IPOX 100 U.S. (IPXO)-linked First Trust U.S. Equity Opportunities ETF (FPX) rose a massive +5.19% to +6.49% YTD, while the IPOX International (IPXI)-linked “FPXI” and IPOX Europe (IPOE)-linked “FPXE” ETF also had a strong week, gaining to an impressive +4.65% YTD and +5.79% YTD respectively.
|IPOX® Indexes Price Returns (%) (RT)||Last Weerk||2018||YTD|
|IPOX® Indexes: Global/International|
|IPOX® Global (IPGL50) (USD)||4.25||-11.37||4.92|
|IPOX® International (IPXI)* (USD)||3.63||-13.41||4.19|
|IPOX® Indexes: United States|
|IPOX® Comp. U.S. (IPXC)*||4.54||-7.59||6.45|
|IPOX® 100 U.S. (IPXO)*||5.14||-8.80||6.49|
|IPOX® 30 U.S. (IPXT)||5.11||-10.28||6.21|
|IPOX® Indexes: Europe/Nordic|
|IPOX® Nordic (IPND) (EUR)||3.32||-15.45||5.26|
|IPOX® 100 Europe (IPOE)* (USD)||3.39||-16.60||4.47|
|IPOX® Indexes: Asia-Pacific/China|
|IPOX® Asia-Pacific (IPTA) (USD)||4.76||-3.21||5.52|
|IPOX® China (CNI) (USD)||3.96||-22.83||1.70|
|IPOX® Japan (IPJP)** (JPY)||4.29||-13.70||4.27|
* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOZ8). ** Live since 07/18. Please contact [email protected] for other IPOX® Indexes.
IPOX Factoid of the Week: Since 1989 (29 years), the IPOX 100 U.S. (IPXO) closed a year with the same sign as its YTD return by the close of the 8th trading day in 55% of years. In up years (75%), the average (median) IPOX 100 U.S. (IPXO) return was +24.97% (+22.87%) based on year-end returns or +21.43% (+19.36%) from the close of the 8th trading day through year-end, respectively. In down years (25%), the average (median) IPOX 100 U.S. (IPXO) return was -26.80% (-23.93%) based on year-end returns or -23.46% (-20.53%) from the close of the 8th trading day through year-end, respectively.
Amid seasonal weakness & the U.S. government shutdown, Hong Kong remains only active global IPO market / Slack set to list directly. H.K. retailer Best Mart 360˚ (2360 HK: +17.00%) was the only firm debuting last week, adding +17.00% based on the difference between Friday’s close and final offer. Amid seasonal weakness & the U.S. government shutdown, no U.S. deals are scheduled, while H.K. remains with infrastructure construction firm, state-owned Chengdu Expressway (1785 HK) and Tencent-backed commerce and marketing services provider Weimob (2013 HK) set to IPO. We also note Friday’s news about a direct Spotify (SPOT US: -19.62% since direct listing)-type direct listing of U.S. messaging platform operator Slack Technologies Inc.
|Select IPOs expected (week: 01/14/2019)||Domicile|
|Chengdu Expressway Co., Ltd||China|
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