The IPOX® Week, May 11, 2020
May 11, 2020- Strong earnings drive big gains in the IPOX Indexes. FANG-free diversified IPOX 100 U.S. (ETF: FPX) soars +6.87%.
- IPOX International (ETF: FPX) closes Friday within 0.30% of its All-Time-High. Saudi Aramco set to report Tuesday.
- U.S. sees the busiest IPO week since COVID-19 pandemic. Zoom rival Pexip (PEXIP NO) set for Oslo trading debut.
Ahead of U.S. Options expiration week, IPOX Indexes jump: Big gyrations in U.S. bonds, easing COVID-19 fears reflected in a plunge in U.S. equity risk (VIX: -24.78%) and strong earnings left the IPOX Indexes way on top of the global equity indexes ranking last week. In the U.S., e.g., the FANG-free diversified IPOX 100 U.S. (ETF: FPX) jumped +6.87% to -6.17% YTD, a massive +337 bps. ahead of the S&P 500 (SPX), benchmark for U.S. stocks. Big gains extended to Markets abroad, including the IPOX International (ETF: FPXI), which soared +5.00% to +7.41% YTD, within easy reach of its All-Time High recorded on February 19, 2020:
“FPXI” ETF closes Friday within 0.30% of its All-Time High
![](/wp-content/uploads/2020/05/Ipox_20_05_11.png")
The New Generation of stocks in the technology and consumer sector pooled in IPOX as a group and mostly untracked or underrepresented in the benchmarks and seemingly insulated from the global economic vows led to the strong relative and absolute picture (see Table to the right). More key earnings reports are set to
Select list of IPOX Portfolio Holdings set to report this week:
| Name | Ticker | ETF | Date |
| Cable One | CABO UN | FPX | 5/11/2020 (post-mkt) |
| Grocery Outlet | GO UW | FPX | 5/11/2020 (post-mkt) |
| Softbank | 9434 JT | FPXI | 5/11/2020 (pre-mkt) |
| Dynatrace | DT UN Equity | FPX | 5/12/2020 (pre-mkt) |
| BioNTech | BNTX UW | FPXE | 5/12/2020 (pre-mkt) |
| Saudi Arabian Oil | ARAMCO AB | FPXI | 5/12/2020 |
| XP | XP UW Equity | FPXI | 5/12/2020 (post-mkt) |
| E.ON | EOAN GY | FPXI | 5/12/2020 (pre-mkt) |
| Nexi | NEXI IM | FPXI | 5/12/2020 (pre-mkt) |
| TeamViewer | TMV GY | FPXI | 5/12/2020 (pre-mkt) |
| 1Life Healthcare | ONEM UW | FPX | 5/13/2020 (post-mkt) |
| Alcon | ALC UN | FPX | 5/13/2020 (pre-mkt) |
| NortonLifeLock | NLOK US | FPX | 5/14/2020 (post-mkt) |
| Farfetch | FTCH UN | FPXE | 5/14/2020 (post-mkt) |
| GDS Holdings Ltd | GDS UQ | FPXI | 5/14/2020 (pre-mkt) |
test the strong Sentiment and Technicals in the IPOX Indexes this week, including IPOX International (ETF: FPXI) heavyweight Japanese telecom 12/2018 IPO Softbank (9434 JP) and Riyadh-traded oil behemoth 12/2019 IPO Saudi Aramco (ARAMCO AB).
| Long-only IPOX® Indexes Price Returns (%) | Last Week | 2019 | 2020 YTD |
| IPOX® Indexes: Global/International | |||
| IPOX® Global (IPGL50) (USD) | 5.30 | 27.93 | 3.58 |
| IPOX® International (IPXI)* (USD) (ETF: FPXI) | 5.00 | 31.37 | 7.41 |
| IPOX® Indexes: United States | |||
| IPOX® Composite U.S. (USD) | 6.80 | 24.64 | -3.07 |
| IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) | 6.87 | 29.60 | -6.17 |
| IPOX® ESG (IPXT) (USD) | 5.87 | – | – |
| IPOX® Indexes: Europe/Nordic | |||
| IPOX® 30 Europe (IXTE) (EUR) | 4.91 | 34.55 | 7.73 |
| IPOX® Nordic (IPND) | 6.61 | 38.52 | 4.80 |
| IPOX® 100 Europe (IPOE)* (USD) | 2.94 | 30.97 | -3.22 |
| IPOX® Indexes: Asia-Pacific/China | |||
| IPOX® Asia-Pacific (IPTA) (USD) | 4.48 | 4.41 | 1.83 |
| IPOX® China (CNI) (USD) | 3.55 | 26.31 | 8.75 |
| IPOX® Japan (IPJP)** (JPY) | 2.94 | 37.91 | -12.31 |
* 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 (IPOM0). Source: Bloomberg L.P. & Refinitiv/Thomson Reuters. For IPOX Alternative Strategies Returns, please contact [email protected]
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| BILL.COM (ETF: FPX) | 50.04 | SAMHALLSBY. (ETF: FPXI) | -19.05 |
| LIVONGO (ETF: FPX) | 42.15 | AIB (ETF: FPXE) | -13.20 |
| EVERBRIDGE (ETF: FPX) | 41.42 | KOOLEARN (ETF: FPXI) | -12.60 |
| FARFETCH (ETF: FPXE) | 27.84 | NEOENERGIA (ETF: FPXE) | -11.33 |
| SVMK (ETF: FPX) | 27.12 | BAWAG (ETF: FPXE) | -9.09 |
| PAYPAL (ETF: FPX) | 20.19 | TERVEYSTALO (ETF: FPXE) | -9.01 |
| SLACK (ETF: FPX) | 18.12 | CHEWY(ETF: FPX) | -8.14 |
| UBER (ETF: FPX) | 15.50 | ARCOSA (ETF: FPX) | -7.44 |
| HELLOFRESH (ETF: FPXI) | 14.89 | ALTICE (ETF: FPX) | -6.36 |
| SEA (ETF: FPXI) | 14.07 | PST ITALIAN (ETF: FPXE) | -4.57 |
U.S. sees the busiest IPO week since COVID-19 pandemic. Amid the easing of lockdowns, 3 sizable IPOs commenced trading across the global regions last week with the average equally-weighted deal adding +36.66% based on the difference between the final offering price and Friday’s close. Chinese software veteran Kingsoft’s cloud services provider spin-off Kingsoft Cloud (KC US: +40.24%), London-based gambling software provider GAN (GAN US: +69.53%) and Bristol-Myers Squibb backed Israeli oncology company Ayala Pharmaceuticals (AYLA US: +0.20%) all gained on their upsized Nasdaq debut. Zoom’ rival, Norwegian video-conferencing company Pexip (PEXIP NO), Chinese property management Central China New Life (9983 HK) and medical devices company Peijia Medical (9996 HK) set to trade this week. Other IPO news include: 1) Warner Music to kick off previously halted IPO; 2) Russia’s Yandex Taxi delays long-awaited IPO plan; 3) customer relationship management SaaS unicorn Freshworks moves forward with IPO; 4) NetEase follows Alibaba and JD.com to file Hong Kong secondary listing.
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