IPO vs PAVE

AIPO

BPAVE

Measures won0–6PAVE wins · of 6 · 5Y

$10,000 · 5Y$34,950SMH · PAVE $19,175

Lowest cost0.35%SMH · $35 on $10k

Most income0.84%PAVE · $84 on $10k

Smallest drop−15.3%PAVE · worst fall in 1Y

Held in common0.7%IPO and PAVE

IPO

PAVE

Renaissance IPO ETF · $122MGlobal X - U.S. Infrastructure Development ETF · $13.0B

+15.3%3 years · per year$15,340 · $17,906+21.4%

−7.9%5 years · per year$6,641 · $19,175+13.9%

0.60%Expense ratio$60 · $47 on $10k · lower wins0.47%

0.14%12-mo yield$14 · $84 on $10k0.84%

−26.9%Worst dropSmaller wins−15.3%

34.2%VolatilityLower wins21.5%

0–6PAVE wins

$10,000 · 5 yearsAll three, one scale

Shared top holdingsIPO · PAVE

1.1%FPS0.3%

0.3%MWH0.3%

0.5%LGN0.1%

Held in common0.7%

End-of-day Nov 6, 2026 · $10,000 5 years ago, dividends reinvested · ● winner of the row · each row scaled to the bigger of the two

All Three

5Y3 funds

#
1	SMH	VanEck Semiconductor ETFRead Desk	0.35%	0.24%	+3.6%	+28.8%	+29.5%	+48.9%	+28.4%	−33.1%	$60.7B
2	BPAVE	Global X - U.S. Infrastructure Development ETFRead Desk	0.47%	0.84%	+0.8%	+7.2%	+7.7%	+21.4%	+13.9%	−15.3%	$13.0B
3	AIPO	Renaissance IPO ETFRead Desk	0.60%	0.14%	+3.7%	−1.0%	−5.7%	+15.3%	−7.9%	−26.9%	$122M

End-of-day Nov 6, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

All Three

5Y3 funds

#
1	SMH	VanEck Semiconductor ETFRead Desk	0.35%	0.24%	+3.6%	+28.8%	+29.5%	+48.9%	+28.4%	−33.1%	$60.7B
2	BPAVE	Global X - U.S. Infrastructure Development ETFRead Desk	0.47%	0.84%	+0.8%	+7.2%	+7.7%	+21.4%	+13.9%	−15.3%	$13.0B
3	AIPO	Renaissance IPO ETFRead Desk	0.60%	0.14%	+3.7%	−1.0%	−5.7%	+15.3%	−7.9%	−26.9%	$122M

End-of-day Nov 6, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

Cards for this view

IPO vs PAVE

IPO

Renaissance IPO

$6,641

PAVE

Global X - U.S. Infrastructure Development

$19,175

MeasureIPOPAVE

Fee0.60%0.47%

Cost on $10k a year$60$47

Yield0.14%0.84%

5 years, per year−7.9%+13.9%

3 years, per year+15.3%+21.4%

Worst drop · 1Y−26.9%−15.3%

Volatility · 1Y34.2%21.5%

6–0measures won
PAVE first

0.7%

holdings shared

Nov 6, 2026 · $10,000 five years ago, dividends reinvested

SOXX vs SMH

YTD

iSharesSOXX

+36.2%

SMHVanEck

+28.8%

+36.2%Year to date+28.8%

0.33% · $33Fee · on $10k a year0.35% · $35

$39.1BAssets$60.7B

2–0SOXX wins

End-of-day Nov 6, 2026

SCHD vs VIG

YTD

SchwabSCHD

+31.4%

VIGVanguard

+12.1%

+31.4%Year to date+12.1%

3.0%Yield1.5%

$120BAssets$109B

2–0SCHD wins

End-of-day Nov 6, 2026

JEPQ vs JEPI

YTD

J.P. MorganJEPQ

+3.2%

JEPIJ.P. Morgan

+5.3%

+3.2%Year to date+5.3%

12.8%Yield8.1%

$40.7BAssets$45.2B

1–1level

End-of-day Nov 6, 2026

Overlap: IPO, PAVE, SMH

Today

4.8%most shared, IPO and SMH

IPOPAVESMH

IPO—0.7%4.8%

PAVE0.7%—0.0%

SMH4.8%0.0%—

End-of-day Nov 6, 2026 · share held in common · outlined: the pair in versus

Income After Fees on $10,000

$37most kept, PAVE

PAVE$84 − $47 = $37

SMH$24 − $35 = −$11

IPO$14 − $60 = −$46

KeptFee

End-of-day Nov 6, 2026 · yield in dollars minus the fee