The IPOX® Week, May 06, 2019

  • IPOX 100 U.S. (ETF: FPX) outpaces S&P 500 (SPX) to close at historic weekly high. IPOX China (CNI) adds to YTD gains.
  • Visit IPOX at the Morningstar Investment Conference (MIC).
  • IPO Deal-flow Review & Outlook: Vegan meat unicorn Beyond Meat (BYND US) leaves USDm 392 on the table by “underpricing” its IPO. U.S. IPO bonanza continues with Uber (UBER US) marking historic offering.

IPOX  100 U.S. (ETF: FPX) outpaces S&P 500 (SPX) to close at historic weekly high as data underline U.S. Goldilocks economy. IPOX China (CNI) adds to YTD gains.  Amid a volatile FED week in U.S. equities (VIX: +1.10%) which ended with Markets re-focusing on the underlying economic strength and low rates, the IPOX 100 U.S. (ETF: FPX) recovered from big intra-week swings to close the week at yet another fresh historic weekly high, adding +0.88% to +23.55%, now +616 bps. ahead of the U.S. market YTD. With 34 portfolio holdings (18.63% of weight) lined up to report earnings this week, big gains in specialty holding drove the good weekly showing, including infrastructure construction firm Arcosa (ACA US: +21.29%), software maker Alteryx (AYX US: +13.38%) and online ride sharing services firm Lyft (LYFT US: +9.21%), while weakness in security software provider Tenable (TENB US: -11.12%), high-end camping goods maker Yeti (YETI US: -9.79%) or Spin-off Ingevity (NGBT US: -9.26%) capped the gains. We also note the big outsized weekly returns in the IPOX China (CNI) which rose on a jump in online credit provider Qudian (QD US: +26.86%), logistics services provider BEST (BEST US: +14.58), as well as online shopping platform operator Pinduoduo (PDD US: +9.31%).

IPOX to exhibit at this year’s MIC (May 8-10), Chicago. Come and visit the IPOX Booth (#369) to receive our latest updates.

IPOX 100 U.S.-Style Investing with the “FPX” ETF since 2006.

Performance Update for IPOX-linked Funds: The IPOX 100 U.S. (IPXO)-linked, 5-star (10-years) $1.2 billion First Trust U.S. Equity Opportunities ETF (FPX) rallied to closed at +23.96% YTD, while the IPOX International (IPXI)-linked 4-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) closed the week at +17.79% YTD and +18.88% YTD, respectively. Amongst actively managed IPOX-linked funds, the Catalyst IPOX® Allocation Fund (OIPAX), a 2019 Thomson Lipper Award Winner, finished at +22.30% YTD.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 1.26 -11.37 20.87
IPOX® International (IPXI)* (USD) 1.41 -13.41 15.98
IPOX® Indexes: United States
IPOX® Composite U.S. (IPXC)* 0.64 -7.59 19.67
IPOX® 100 U.S. (IPXO)* 0.88 -8.80 23.66
IPOX® 30 U.S. (IPXT) 0.98 -10.28 19.19
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) -1.05 -13.46 18.25
IPOX® Nordic (IPND) -0.11 -15.45 18.51
IPOX® 100 Europe (IPOE)* (USD) 0.20 -16.60 16.22
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -0.04 -3.21 1.58
IPOX® China (CNI) (USD) 2.21 -22.83 17.70
IPOX® Japan (IPJP)** (JPY) 0.00 -13.70 4.19

* 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 (IPOM9). ** Live since 07/18. Please contact [email protected] for other IPOX® Indexes.

IPO Deal-flow Review & Outlook: Vegan meat unicorn Beyond Meat (BYND US) leaves USDm 392 on the table by “underpricing” its IPO. U.S. IPO bonanza continues with Uber (UBER US) marking historic offering. At least 7 IPOs debuted last week, with the average (median) equally-weighted firm adding a big +44.86% (+28.64%) based on the difference between the final offering price and Friday’s close. Bill Gates/Leonardo DiCaprio-backed plant-based meat marker Beyond Meat (BYND US: +167.16%) skyrocketed to rank as the best IPO thus far this year, leaving USDm 392 “on the table”. Chinese membership-based e-commerce unicorn Yunji (YJ US: +28.64) also jumped, while casino games developer, Scientific Games (SGMS US: +1.02%) Spin-off SciPlay (SCPL US: -4.69%), fell. The U.S. bonanza is set to continue with at least 12 firms lined up to “go public” this week: Amid its reduced valuation and recent PayPal (PYPL US: +1.28%)-backing, global ride sharing operator Uber (UBER US) ranks top of the list. We also note the IPO of U.S. government contractor technology provider Parsons (PSN US), online recruitment platform, Moscow-based HeadHunter (HHR US), and Australia’s largest tech IPO since 2016, U.S. family locator app Life360 (360 AU). Moreover, the IPO of REIT Postal Reality Trust (PSTL US) ranks as the first significant IPO of a U.S. REIT YTD.

Track Priced & Upcoming IPOs on https://ipox.com

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