ARKK - Cathie Wood inspires two more leveraged ETFs tracking her ARK funds

2023-04-18 08:43:46 ET

Cathie Wood has inspired another set of leveraged exchange traded funds looking to track her family of innovation-focused ARK ETFs.

Tuttle Capital submitted a prospectus with the U.S. Securities and Exchange Commission for two leveraged funds. These consist of the Tuttle Capital 2X All Innovation ETF (UARK) and the Tuttle Capital 2X Inverse All Innovation ETF (ZARK).

UARK and ZARK intend to trade as +2X and -2X leveraged funds that track the price action of Cathie Wood's actively managed exchange traded funds. UARK and ZARK intend to trade with a 0.75% expense ratio.

Per the filing , UARK and ZARK will focus 50% of its assets towards the daily performance of the ARK Innovation ETF ( NYSEARCA: ARKK ). Meanwhile, the rest of the portfolio of UARK and ZARK will be dedicated to four other Wood ETFs: the ARK Next Generation Internet ETF ( NYSEARCA: ARKW ), ARK Fintech Innovation ETF ( NYSEARCA: ARKF ), ARK Genomic Revolution ETF ( BATS: ARKG ) and the ARK Autonomous Technology and Robotics ETF ( ARKQ ).

Tuttle already has a leveraged fund dedicated to Wood's flagship ARKK fund in the Tuttle Capital Short Innovation ETF ( SARK ). Also the AXS 2X Innovation ETF ( TARK ) exists as well. The new offerings will blend ARKK with the performance of some of the high-profile investor's other ETFs.

For reference, here are Wood’s actively managed ETFs year-to-date performance: ARKK +27.9% , ARKW +36.9% , ARKQ +17.8% , ARKG +11.4% , ARKF +30.5% , and ARKX +10% .

In broader financial news, stock index futures pointed to a higher open Tuesday as investors eye more bank and investment bank earnings.

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