IPO's underperform in market volatility

There is a growing queue of IPO's which have not gone public, they cite market volatility. Looking to the IPO ETF we can see those who have IPO'ed into the volatility have underperformed considerably
IPOriskSPDR S&P 500 ETF (SPY) VIX CBOE Volatility IndexVolatilityXIV
MarcusWilliamson

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