TSLA - Investment Advisor Says 'Throwing Random Darts At Tickers' Would Beat ARKK As Cathie Wood's Flagship Fund Lags Far Behind Soaring Market: 'How Do They Do It?!' | Benzinga
Ark Investment Management, led by star investor Cathie Wood, is facing a harsh reality in 2024. While the broader market is hitting record highs, Ark’s actively managed funds are lagging far behind, raising concerns about their future viability. One investment advisor has sounded a stark warning, suggesting Ark’s funds could even go under.
What Happened: Ram Ahluwalia of Lumida Wealth pointed to Ark’s flagship ETF, Ark Innovation ETF (NYSE:ARKK), which is currently trading over 70% below its all-time high, a stark contrast to the S&P 500’s recent record highs.
ARKK had its heydays amid the recent pandemic as a significant share of its holdings were COVID-19 plays, which capitalized on lockdown restrictions and the work-from-home environment that prevailed at that time. The ETF peaked at $159.70 in mid-February 2021.
Source: Benzinga
Here are the year-to-performances of Ark’s key ETFs vs the broader market:
ETF YTD Change
ARKK -13.21%
ARK Next Generation Internet ETF (NYSE:ARKW) +3.02%
ARK Genomic Revolution ETF (CBOE: ARKG) -19.14%
ARK Autonomous Technology & Robotics ETF (CBOE: ARKQ) -2.62%
ARK Fintech Innovation ETF (NYSE:ARKF) +1.89%
ARK Space Exploration & Innovation ETF (CBOE: ARKX) +1.23%
SPDR S&P 500 ETF Trust (NYSE: