Bloomberg: IPO Revival Lifts First Trust US Equity Opportunities ETF
The IPO market has staged a strong comeback in 2025, with newly listed companies delivering standout performance against major benchmarks. According to Bloomberg, firms going public on U.S. exchanges have gained an average of 41% this year, more than double the returns of both the S&P 500 and Nasdaq 100. Notably, Bloomberg highlights the First Trust US Equity Opportunities ETF (FPX) — which tracks the underlying IPOX® 100 U.S. Index, the leading benchmark for U.S. innovation — as one of the standout beneficiaries of this revival. FPX has returned 37% year-to-date, significantly outpacing the S&P 500.
Large-cap IPOs, particularly those raising over $1 billion, have been the most rewarding, climbing an average of 77% and fueling renewed investor confidence in public offerings. This surge follows a muted period for listings amid market uncertainty in prior years. With $32 billion raised so far in 2025, the U.S. IPO market is on pace for its busiest stretch since 2021.
September has been particularly active, marking the strongest month for IPO activity in four years as companies across fintech, AI, defense, aerospace, education, and software successfully came to market. The return of cornerstone investors and strong first-day performances — such as Circle Internet Group’s dramatic debut — have further supported the positive momentum.
Bloomberg notes that FPX has seen fresh inflows in 2025 after several years of outflows, a signal of renewed investor interest in IPO-linked strategies. As James Seyffart, ETF analyst at Bloomberg Intelligence, explained: “With IPO-focused ETFs beating the S&P 500, we expect more flows coming into these products.”
While long-term challenges remain — with historical data showing that many IPOs underperform over time — the current wave of listings highlights strong demand for innovative, high-growth companies. As Bloomberg’s coverage underscores, the revival of the IPO market is once again putting IPOX®-tied products like FPX in the spotlight.
Read the full article by Natalia Kniazhevich on Bloomberg: Wall Street Eyes IPO Trackers as Newly Listed Stocks Top S&P 500
