IPOX® 100 U.S. Index (IPXO)

The IPOX® 100 U.S. Index (Ticker: IPXO) is a leading benchmark for investors seeking exposure to the top 100 largest and most liquid U.S. companies that have recently gone public, including IPOs and spin-offs, as well as select acquirers of recent IPOs (“IPO M&As”).

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Key features of the IPOX® 100 U.S. Index include:

  • Captures approximately 85% of the total market cap created via U.S. IPO and spin-off activity over the past 4 years, providing comprehensive exposure to the U.S. new listings market

  • Utilizes IPOX®'s proven and proprietary index technology to select the 100 largest and most liquid recent IPOs and spin-offs from the IPOX® U.S. Composite Index

  • Employs a market-cap weighting scheme with a 10% cap on all constituents to ensure diversification

  • Rebalances on a quarterly basis to maintain exposure to the largest new listings

  • Serves as the underlying index for investable products including the First Trust U.S. Equity Opportunities ETF (Ticker: FPX)

As of 6/2026 holdings, the index includes innovative market leaders across a broad range of sectors that reflect the evolving U.S. new listings market, including technology infrastructure, industrial transformation, health care, communications, utilities, energy, and real estate. Notable holdings include:

  • Sandisk Corporation (Ticker: SNDK): A leading data storage and memory technology company and the index’s largest holding.

  • GE Vernova Inc. (Ticker: GEV): A major industrial and energy transition company focused on power generation, grid infrastructure, and electrification.

  • Seagate Technology Holdings plc (Ticker: STX): A global leader in data storage solutions supporting cloud, enterprise, and consumer technology markets.

  • Medline Inc. (Ticker: MDLN): A significant health care products and medical supply company serving hospitals, clinicians, and care providers.

  • AST SpaceMobile, Inc. (Ticker: ASTS): A communications innovator developing space-based cellular broadband connectivity.

  • AppLovin Corp. (Ticker: APP): A key player in mobile application technology, software platforms, and digital advertising.

  • Space Exploration Technologies Corp. / SpaceX (Ticker: SPCX): A pioneering commercial space company advancing launch services, satellite connectivity, and next-generation space infrastructure.

  • Constellation Energy Corporation (Ticker: CEG): A major force in the evolving energy and utilities sector.

  • Samsara Inc. (Ticker: IOT): A provider of Internet of Things solutions that help organizations digitize and optimize physical operations.

Other notable names in the index include Lumentum Holdings, Warner Bros. Discovery, FedEx, Entergy, DT Midstream, Ventas, Solstice Advanced Materials, and UL Solutions, underscoring the index’s exposure to both high-growth technology companies and established leaders reshaping their respective industries.

For investors who want to take part in the "New Generation" of public companies driving the future economy, the IPOX® 100 U.S. Index provides a unique, one-stop solution. Through its rules-based methodology and quarterly rebalancing, the index aims to capture the performance of these innovative growth companies in a systematic fashion.