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華爾街日報This ETF Makes The First Move On Medline As IPO Fever Returns To Wall Street
The First Trust U.S. Equity Opportunities ETF (NYSE:FPX) is solidifying its status as a leader for newly public companies after becoming the first ETF to add Medline Industries (NASDAQ:MDLN) following the medical supply giant's significant IPO.
FPX tracks the IPOX 100 U.S. Index and aims to capture the performance of the 100 largest and most liquid U.S. IPOs and recent spin-offs. The ETF has gained about 40% this year, manages roughly $1.5 billion in assets, and holds a five-star Morningstar rating. This shows strong investor interest in structured exposure to the IPO market.
Medline's addition follows the company's recently upsized IPO, which included the full exercise of the underwriters' option. This event marks one of the largest public listings of 2025. While the IPO itself attracted attention, FPX's quick inclusion of Medline shows how the fund systematically adds newly public companies once they meet liquidity and market-cap criteria without relying on stock picking.
This rules-based approach has linked FPX closely with pre-IPO and early post-IPO performance trends. It serves as a key option for investors looking for diverse access to companies moving from private to public markets. Unlike individual stock investments, FPX spreads exposure across various sectors and issuers, lowering specific risks while still responding to IPO momentum.
The timing is significant. With equity markets stabilizing and deal pipelines reopening, many expect a revival in IPO activity in 2026. In a recent report, BNY noted, “The current IPO environment is constructive, supported by a positive trend.” FPX's method allows it to adapt to that cycle, capturing opportunities as new entrants grow in the public markets.
Adding Medline also boosts FPX's healthcare exposure, a sector that has often performed well during reopening IPO cycles due to its defensive qualities and long-term growth potential.
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