IPOX 100 U.S. (ETF: FPX) ekes out gain on Friday to finish big week at fresh All-Time High. Amid strong U.S. economic numbers, perceived truce on global trade and higher yields towards the week-end, all IPOX Indexes kicked off the new quarter with strong gains. In the U.S., e.g., the diversified, FANG-free IPOX 100 U.S. (IPXO) added +2.15% to +28.13% YTD last week, extending the YTD lead vs. the S&P 500 (SPX) – benchmark for U.S. stocks – to +894 bps. and closing out Friday at the highest level on record. Big strength extended across the IPOX Universe, including the IPOX Global (IPGL50), IPOX International (ETF: FPX) and IPOX China (CNI). Portfolio gains were driven by firms trading across sectors and sizes, including China-linked consumer staples IPOX International (ETF: FPXI)-held state monopoly June 12th IPO China Tobacco International (6055 HK: +51.73%), packaged food producer Yihai International (1579 HK: +11.70%) and USD billion 20.6 hot pot restaurant chain Haidilao International (6862 HK: +9.57%), while specialty exposure linked to Technology & Finance including tax software maker Avalara (AVLR US: +12.04%), tobacco maker Turning Point Brands (TPB US: +8.42%), asset manager AXA Equitable (EQH US: +7.64%) and cable company Cable One (CABO US: +6.57%) propelled the IPOX 100 U.S. (ETF: FPX). Following re-balancing in some of the major benchmarks, we note a disappointing week for ride-sharing platforms operators recent IPOs Lyft (LYFT US: -9.91%) and UBER (UBER US: -3.55%).
IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.
IPOX-linked Funds extend big YTD gains: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.25 billion First Trust U.S. Equity Opportunities ETF (FPX) added +2.19% to +28.60% YTD, while the IPOX International (IPXI)-linked 5-star (3-years) First Trust International Equity Opportunities ETF (FPXI) and the IPOX® 100 Europe (IPOE)-linked First Trust IPOX® Europe Equity Opportunities ETF (FPXE) rose +1.91% to +22.45% YTD and +0.29% to +24.93% YTD, respectively. Amongst the range of actively managed IPOX-linked mutual funds, the award-winning Catalyst IPOX® Allocation Fund (OIPAX) – rose to +26.19% YTD.
|Select IPOX® Indexes Price Returns (%)||Last Week||2018||2019 YTD|
|IPOX® Indexes: Global/International|
|IPOX® Global (IPGL50) (USD)||1.63||-11.37||25.32|
|IPOX® International (IPXI)* (USD)||1.94||-13.47||20.95|
|IPOX® Indexes: United States|
|IPOX® Composite U.S. (IPXC)*||1.29||-7.59||20.24|
|IPOX® 100 U.S. (IPXO)*||2.15||-8.80||28.13|
|IPOX® Indexes: Europe/Nordic|
|IPOX® 30 Europe (IXTE) (EUR)||1.01||-13.46||25.01|
|IPOX® Nordic (IPND)||0.83||-15.45||24.20|
|IPOX® 100 Europe (IPOE)* (USD)||0.11||-16.60||21.47|
|IPOX® Indexes: Asia-Pacific/China|
|IPOX® Asia-Pacific (IPTA) (USD)||2.09||-3.21||6.24|
|IPOX® China (CNI) (USD)||2.88||-22.83||16.05|
|IPOX® Japan (IPJP)** (JPY)||2.58||-13.70||1.76|
* 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 (IPOU9). ** Live since 07/18. Please contact [email protected] for other IPOX® Indexes.
IPO Deal-flow Review & Outlook: U.S. market quiets down during Fourth of July week. Energy distributor Neoenergia (NEOE3) marks the largest Brazilian IPO of the year. Asia-Pacific Markets in Focus. Only 5 firms debuted last week in markets open to global investors, with the average (median) equally-weighted stock adding +10.35% (+12.94%) based on the difference between the final offering price and Friday’s close. In the U.S., regional bank micro-cap Richmond Mutual (RMBI US: +36.50%) was the only offer during the shortened week due to the Independence Day holiday. While deal flow outside the U.S. also slowed after a frenzied June, some firms managed to debut: Spanish utility leader, Iberdrola’s Brazilian unit, power distributor Neoenergia (NEOE3 BZ: +12.91%), e.g., relaunched its 2017-shelved IPO, ranking as the biggest IPO in Brazil YTD amid strong demand and performance, while Rocket Internet backed e-commerce fashion group Global Fashion (GFG GR: -4.02%) fell based on final offer. Asia-Pacific Markets are back on track with Indonesian conglomerate Sinar Mas Group (SMGZ IJ) and Japanese P&C insurance giant MS&AC co-owned life insurance firm Sinarmas MSIG (JIWA IJ) and CIMC semi-trailer unit spin-off CIMC Vehicle (1839 HK) set to IPO. Further exciting IPO news include recent talks on a revival of the $2 trillion Saudi Aramco’s IPO, the world’s largest ever, and Stella Artois and Budweiser brewer AB InBev’s preparation for its ambitious $9.8 billion Asia unit Budweiser Brewing Co APAC (1876 HK) flotation in Hong Kong in mid-July.
Track Priced & Upcoming IPOs on https://ipox.com
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