The Index Price used in the Carry calculation in this methodology, for futures that settle at a different time than their underlying Cash Equity Index, will be a ‘Synthetic’ Index price. This ‘Synthetic’ price will be derived by taking the Lead month futures contract minus the Cash Index at the cash close to calculate a Basis. FPX tracks a market-cap-weighted index of the 100 largest US IPOs over the first 1,000 trading days for each stock. Index Tracked IPOX-100 U.S. Index. Index Weighting Methodology Market Cap. III. The IPOX IPO Index Products • Calculated and partially maintained by S&P and available real-time on Reuters, Bloomberg, etc. •IPOX® IPO Index Products patent pending • IPOX Composite Index (Base Index) • Sub-Indexes: IPOX-30 and IPOX-100 • Rules-based Methodology

The IPOX®-100 U.S. Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the IPOX® Global Composite Index. The index utilizes a 10% capping on all constituents and includes the 100 largest, typically best performing and most liquid U.S. public offerings (“IPOs”) in the IPOX® Global Composite Index. FPX Factset Analytics Insight. FPX holds positions in the 100 largest US firms with recent IPOs, weighted by market cap. Eligible stocks are purchased after the close on the 6th trading day and sold on the 1000th, for a holding period of roughly 4 years. IPOX-100 follows the market in the United States for IPOs based on the IPOX-100 U.S. Index - like the soaring stock prices following Google's (Nasdaq:GOOG) IPO in 2004. The Index Price used in the Carry calculation in this methodology, for futures that settle at a different time than their underlying Cash Equity Index, will be a ‘Synthetic’ Index price. This ‘Synthetic’ price will be derived by taking the Lead month futures contract minus the Cash Index at the cash close to calculate a Basis. FPX tracks a market-cap-weighted index of the 100 largest US IPOs over the first 1,000 trading days for each stock. Index Tracked IPOX-100 U.S. Index. Index Weighting Methodology Market Cap. III. The IPOX IPO Index Products • Calculated and partially maintained by S&P and available real-time on Reuters, Bloomberg, etc. •IPOX® IPO Index Products patent pending • IPOX Composite Index (Base Index) • Sub-Indexes: IPOX-30 and IPOX-100 • Rules-based Methodology

To use the "Search Methodology by Index Name or Index Code" tool, type in the first four letters of the index name leaving out "MSCI" (e.g., for MSCI Emerging Market Index, type in Emer) or the index code, wait for the list of indexes to appear, choose the index and click "Go".

IPOX-100 follows the market in the United States for IPOs based on the IPOX-100 U.S. Index - like the soaring stock prices following Google's (Nasdaq:GOOG) IPO in 2004. The Index Price used in the Carry calculation in this methodology, for futures that settle at a different time than their underlying Cash Equity Index, will be a ‘Synthetic’ Index price. This ‘Synthetic’ price will be derived by taking the Lead month futures contract minus the Cash Index at the cash close to calculate a Basis. FPX tracks a market-cap-weighted index of the 100 largest US IPOs over the first 1,000 trading days for each stock. Index Tracked IPOX-100 U.S. Index. Index Weighting Methodology Market Cap. III. The IPOX IPO Index Products • Calculated and partially maintained by S&P and available real-time on Reuters, Bloomberg, etc. •IPOX® IPO Index Products patent pending • IPOX Composite Index (Base Index) • Sub-Indexes: IPOX-30 and IPOX-100 • Rules-based Methodology Based on well researched, totally disciplined and transparent index methodology. The IPOX®-100 U.S. Index has historically captured around 85% of total market capitalization created through U.S. IPO activity during the past four years. Tilt towards mid- and large-cap stocks. FPXE tracks a market-cap-weighted index of the 100 largest European IPOs over the first 1,000 trading days for each stock. Index Tracked IPOX 100 Europe Index. Index Selection Methodology First Trust US Equity Opportunities ETF (FPX) Exceeds $1 Billion in Net Assets of the IPOX ®-100 U.S. Index A patent with respect to the IPOX® index methodology has been issued (U.S. Pat

The IPOX-100 U.S. Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the IPOX Global Composite Index.

15 Jan 2018 The First Trust US Equity Opportunities ETF (FPX US), which provides The fund tracks the IPOX 100 US Index, composed of the 100 largest US stocks the firm behind the innovative index, this methodology tilts toward mid-  2 Dec 2004 Index Methodology and Economic Significance b) The IPOX-100 and IPOX-30 Index. IV. IPOX Indexes Long-run viability of US IPO market. 12 Apr 2006 Based on well researched, totally disciplined and transparent index methodology . The IPOX®-100 U.S. Index has historically captured around  1 Jan 2020 At ranking, if a company with a 100 percent allocation in an index moves beyond the core of the adjacent index, then the company is moved  IPOs tend to outperform initially, so mutual fund firms will load up new funds with them to attract investors via performance. Larry Swedroe • March 10, 2017  Learn everything about First Trust U.S. Equity Opportunities ETF (FPX). FPX tracks a market-cap-weighted index of the 100 largest US IPOs over the first See sibling funds FPXE and FPXI for Europe and broad international exposure, respectively, using the same methodology. IPOX-100 U.S. Index -- -- -- -- -- -- 12.41%. 25 Sep 2015 FPX is linked to the IPOX-100 US Index, a modified value-weighted price The fund uses a quantitative screening methodology to rank each 

The IPOX® 100 U.S.   Index is an applied market cap-weighted index portfolio measuring the performance of the top 100 U.S. companies ranked quarterly by market cap in the IPOX® U.S. Composite Index – a sub-index of the IPOX® Global Composite Index – subject to defined liquidity and exposure criteria.

IPOX-100 follows the market in the United States for IPOs based on the IPOX-100 U.S. Index - like the soaring stock prices following Google's (Nasdaq:GOOG) IPO in 2004.

The IPOX®-100 U.S. Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the IPOX® Global Composite Index. The index utilizes a 10% capping on all constituents and includes the 100 largest, typically best performing and most liquid U.S. public offerings (“IPOs”) in the IPOX® Global Composite Index.

The IPOX® 100 U.S.   Index is an applied market cap-weighted index portfolio measuring the performance of the top 100 U.S. companies ranked quarterly by market cap in the IPOX® U.S. Composite Index – a sub-index of the IPOX® Global Composite Index – subject to defined liquidity and exposure criteria. The IPOX-100 U.S. Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the IPOX Global Composite Index. IPOX® 100 U.S. Index is an applied market cap-weighted index portfolio measuring the performance of the top 100 U.S. companies ranked quarterly by market capitalization in the IPOX® U.S. Composite Index – a sub-index of the IPOX® Global Composite Index – subject to defined liquidity and exposure criteria.

Founded in 2004, IPOX Schuster LLC is the creator of the family of IPOX Indexes. The firm provides sub-advisory IPOX 100 U.S.. IPOX INTERNATIONAL; IPOX  IPOX Indexes are designed to capture unique return dynamics via a transparent, scalable and sustainable index methodology. The IPOX 100 U.S. Index is based