The IPOX® Week, November 22nd, 2021 – Low Cost Stock & Options Trading | Advanced Online Stock Trading


  • IPOX® 100 U.S. (IPXO) drops during U.S. options expiration week. Dollar & China weight.
  • IPOX® Europe (IPOEE) closes Friday at all-time High. IPOX® EV soars +3.91%.
  • IPOX® SPAC (SPAC) sheds -0.16%. 12 new SPACs launched in the U.S. last week.
  • India’s Paytm (PAYTM IN: -27.00%) plunges in debut. U.S. Thanksgiving cools IPO market.

Weekly Summary:  Amid stable U.S. yields, higher risk (VIX: +9.94%) and another week of big gains for the U.S. dollar, the IPOX® Indexes finished monthly U.S. options expiration week mixed.  In the U.S., e.g., the IPOX® 100 U.S. (ETF: FPX) shed -1.62% to +12.21% YTD, tracking U.S. small-caps lower, while more declines across China- and Brazil-linked exposure and adverse currency moves continued to pressure the IPOX International (ETF: FPXI). Driven by big gains in some key portfolio holdings, we note another strong week for the IPOX® Europe (IPOEE), underlying for the UCITS-conform “EFPX” ETF and 5-star NASDAQ-listed “FPXE” ETF with the Europe-traded version extending the lead vs. the broad European market to a strong +798 bps. since its June launch.

IPOX® Europe (IPOEE) Investing with the “EFPX” ETF since Launch:

More explosive gains across a diversified mix of EV-makers and respective best-of-breed platform stocks propelled the narrower and super-liquid IPOX® EV Index (IPEV) by a massive +3.91% to +41.47% YTD.

IPOX® Portfolio Holdings in focus: Europe-domiciled stocks tracked in the IPOX® Europe (IPOEE) stood out and included German Covid-19 vaccine maker BioNTech (BNTX US: +21.67%), Swedish application software firm CINT Group (CINT SS: +11.26%), IPOX® heavyweight medical equipment maker Siemens Healthineers (SHL GY: +10.82%) and German online food-services provider HelloFresh (HFG GY: +10.52%). China, Brazil, and Canada-domiciled firms continued to lag with Canadian payment solutions provider Lightspeed Commerce (LSPD US: -21.66%), China key real estate services provider Country Garden Services (6098 HK: -14.22%) and Brazil-domiciled payment processor PagSeguro Digital (PAGS US: -15.78%) and pet store operator Pet Center Commercio (PETZ3 BS: -11.02%) pressuring the respective IPOX® Indexes.

IPOX® SPAC INDEX (SPAC):  The Index fell -0.16% to -5.99% YTD and +39.63% since Its 7/30/2020 launch. SPAC news include: 1) 5 SPACs Announced Merger Agreement include: a) Blue Safari Group Acquisition (BSGA US: +3.61%) with Singapore-based bitcoin mining firm Bitdeer, b) Archimedes Tech SPAC Partners (ATSPT US: +0.81%) with voice recognition company SoundHound and c) Waldencast Acquisition Co. (WALD US: +1.74%) with two cosmetic and skincare companies OBAGI and Milk Makeup; 2) 4 SPACs Approved Business Combinations include: a) Virtuoso Acquisition with car data marketplace Wejo (WEJO: +13.01%) and b) Leo Holdings III (LIII US: -4.65%) with indoor agriculture company Local Bounti (LOCL: 11/22); 3) 1 SPACs terminated merger agreement include Khosla Venture (KVSA US: +0.30%) with drug discovery biotech Valo Health. 4) SPACs Reportedly In talk Include 10X Capital (VCXA US: +5.62%) with bitcoin miner PrimeBlock; 5) 12 new SPACs launched last week in the U.S.

Select IPOX® Indexes Price Returns 2020 Last Week YTD
IPOX® Indexes: Global/International
IPOX® Global Super Liquid (IPGL50) (USD) 66.63 -0.81 1.69
IPOX® International (IPXI) (USD) (ETF: FPXI) 72.15 -1.17 -6.04
IPOX® Indexes: United States
IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) 47.32 -1.62 12.21
IPOX® M&A (GNDX) (USD) n/a -0.94 n/a
IPOX® ESG (IPXT) (USD) 42.29 -1.94 11.57
IPOX® SPAC (SPAC) (USD) 48.52 -0.16 -5.99
IPOX® EV (IPEV) (USD) n/a 3.91 41.47
IPOX® Indexes: Europe/Nordic
IPOX® Europe (IPOE) * (USD) (ETF: FPXE) 35.14 0.68 12.96
IPOX® Nordic Core (IPND) (EUR) 59.89 0.00 27.83
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 47.50 0.45 1.89
IPOX® China Core (CNI) (USD) 88.02 -2.53 32.43
IPOX® Japan (IPJP) (JPY) 25.75 0.57 16.75

* Basis for CME-traded e-mini IPOX® 100 U.S. Futures (IPOZ1). *also available In UCITS format in Europe in EUR (EFPX IM,), USD (IPXE LN), and GBP (FPX LN).

WEEKLY GLOBAL Deal-flow Review and Outlook:  17 IPOs launched globally last week, with the average equally-weighted deal adding +17.82% based on the difference between the respective final offering price and Friday’s close. U.S. salad chain Sweetgreen (SG US: +89.29%), German solar EV maker Sono (SEV US: +65.33%) and customer engagement platform Braze (BRZE US: +44.86%) surged in their debut in the U.S. Abroad, property and casualty insurer Definity Financial (formerly known as Economical Mutual Insurance) (DFY CN: +24.55%) rose on the largest Canadian IPO YTD, while Indian key digital payments firm Paytm (PAYTM IN: -27.00%), India’s largest IPO in history, plunged on its debut. Russia’s second-largest bourse SPB Exchange (SPBE RM: +9.59%) also rose in its debut in Moscow. The IPO market is set for a slowdown amid U.S. Thanksgiving week, with no significant deal flow seen in the U.S. Abroad, Indonesia state-owned Telkom Indonesia’s subsidiary tower operator Dayamitra Telekomunikasi/Mitratel (MTEL IJ) is expected to launch the countries third largest IPO in history. Other IPO news include: a) Greek yogurt maker Chobani, IoT firm Samsara, Brazilian steakhouse chain Fogo de Chao (re-IPO) filed; b) NetEase’s music unit spin-off Cloud Village revived $1B Hong Kong IPO plan and c) Chinese AI giant SenseTime close to $1B Hong Kong offer.

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