IPOX® 100 U.S. Index
Exposure to 100 leading U.S. IPOs and spin-offs, weighted by market capitalization with a 10% cap per company.
Available for licensing
Use this index in ETFs, mutual funds, structured products or as a benchmark.
Performance history
Total return · USD
As of October 22, 2026
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Total return performance, rebased at the start of the selected period.
E-mini IPOX® 100 U.S. Index Futures
Explore the CME Globex futures contract based on this benchmark.
About the index
The IPOX® 100 U.S. Index (IPXO) follows 100 of the largest and most liquid eligible U.S. companies in the IPOX® new listings universe. Its coverage includes initial public offerings, spin-offs and select acquirers of recent IPOs under the methodology's corporate action provisions.
From new listing to public company
The index follows businesses beyond their first trading day, capturing their development as publicly traded companies. An IPO introduces a company to public investors; a spin-off creates a separately listed business from an existing group. Together, these transactions provide a changing cross-section of U.S. corporate activity.
Companies are selected from the IPOX® U.S. Composite Index. The underlying composite generally tracks eligible new listings for 1,000 trading days, approximately four years, with special cases and extended membership addressed in the rulebook.
Portfolio construction
- Selection: Companies are ranked by market capitalization and assessed against liquidity and exposure criteria.
- Weighting: Modified market capitalization weights give larger eligible companies a greater role, subject to constituent limits.
- Concentration limit: A 10% cap applies to each company at rebalancing; weights can subsequently drift as market prices change.
- Maintenance: Quarterly reviews in March, June, September and December update membership and portfolio weights.
Investment products and documentation
IPXO underlies the First Trust US Equity Opportunities ETF (FPX). The fund seeks to track the index's price and yield performance before fees and expenses. The index is also available for licensing and benchmarking.
The dated fact sheet provides portfolio statistics and performance. Consult Rulebook & Regulations for the complete eligibility and maintenance provisions.