The Tuttle Capital Short Innovation ETF (SARK), which provides a "schadenfreude" moment for anti-ARK Innovation ETF investors, has received a fresh dose of $50 million from investors to start the year.
ARK Innovation ETF (ARKK), Cathie Wood's flagship active ETF, has met its match in 2021 with the launch of the Tuttle Capital Short Innovation ETF on the Nasdaq on November 9th, 2021. The fund is actively managed and tries to achieve the inverse (-1x) of the return of ARKK for a single day, not for any other period.
Wood's ARKK has lost over -33% since SARK's launch, as worries over high valuations of some of the funds' underlying holdings have led investors to abandon ship. SARKK, which benefits from the ARKK's downfall, saw its assets grow to $158 million and was one of the most actively traded funds of all ETFs launched in 2021.
Like its nemesis, SARK has an expense ratio of 0.75%.
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