Chart of the Day - Tuesday, July 16th, 2019
July 16, 2019
Today's Chart of the Day was shared on Twitter by Matt Weller of FOREX.com (@MWellerFX). It's a chart comparing the performance of the Renaissance IPO ETF ($IPO) to the S&P 500 ETF ($SPY). Matt notes that despite disappointing performance from two highly anticipated IPOs, $UBER, and LYFT, the IPO ETF is still outperforming the S&P 500 by a long shot. $IPO is up about 41% year-to-date while $SPY is up about 21%. Some of the top holdings in the $IPO ETF include; $ELAN, $VICI, $ROKU, $DOCU and $PAGS. You could view this as a positive for the broader market as it demonstrates investors' willingness to take risk.