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With Snap, Inc. (SNAP) going public today, below is a look at how recent IPOs as a whole have been performing in their first year on the secondary market.  The Bloomberg IPO index tracks the performance of first-year IPOs, and below is a chart showing the performing of this IPO index versus the S&P 500 since the start of the current bull market back in March 2009.  As shown, while the S&P is up 254%, the IPO index is up nearly 100 percentage points less at +165%.  The IPO index has yet to even take out highs put in back in late 2014, while the S&P is well above its levels from that time period.

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