FPX - FPX: High-Risk High-Reward IPO Fund With A Growth Tilt

• With its $2 billion AUM and 0.57% expense ratio, FPX is an excellent choice to gain exposure to freshly listed players that are yet to unlock value.
• FPX's purpose is to track the market-cap-weighted IPOX 100 U.S. Index as precisely as possible, before fees and expenses. The benchmark itself represents a fraction of the IPOX Global Composite Index.
• FPX has a growth tilt, with close to 55% of the NAV deployed to stocks that have B- or better Growth Grades. That is rather expectable for a market-cap-weighted IPO fund.
• 2020 was a blockbuster year for it but since the beginning of 2021, FPX and IPO have been lagging badly behind the U.S. blue-chips as the capital rotation and inflation fears have taken their toll.

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