An ETF Looking to Give Investors a 'Lyft' in the IPO Market

The IPO fund tracks the top 80% of newly US listed companies not yet in mainstream indexes. It employs a catch and release strategy, holding companies until their two-year trading anniversary. As of March, the fund held about 80 companies, mainly in tech and retail, with $20 million in assets. Despite trailing the broader market since 2013, it has recently outperformed, albeit with higher volatility. The fund is rated positively in Bloomberg's system.

What percentage of newly US listed companies does the IPO fund track based on market cap?

• 90%

• 80%

• 60%

• 50%

How long do companies stay in the IPO fund after their trading debut?

• Two years

• Three years

• Four years

• One year

Which of the following sectors is NOT mentioned as a focus of the IPO fund's holdings?

• Internet

• Healthcare

• Retail

• Software

What is the cost of the IPO fund in basis points?

• 30 basis points

• 75 basis points

• 45 basis points

• 60 basis points

How has the IPO fund performed compared to the broader U.S. market since its launch?

• Matched the market

• Underperformed by 25 percentage points

• Outperformed by 10 percentage points

• Outperformed by 25 percentage points