IPO ETF Gains Assets, Still Misunderstood

Buoyed by the best year for U.S. initial public offerings since the height of the late 1990s tech bubble, the First Trust US IPO Index Fund (NYSEArca: FPX), surged almost 48% last year while ranking as one of the ETF industry’s best asset gatherers on a percentage basis. As of Jan. 16, FPX had...