“..ARK Innovation ETF (ARKK), has wiped out $14.3 billion in investors' wealth over the past 10 years, says a new analysis from Morningstar. That ranks it as the No. 1 wealth destroying fund family in that time. ARK has vaporized twice the value of No. 2, KraneShares, Morningstar says. Losing this kind of money on an ETF stings. Other mutual funds and ETFs minted $11.1 trillion in wealth in this period. "After garnering huge asset flows in 2020 and 2021 (totaling an estimated $29.2 billion), its funds were decimated in the 2022 bear market, with losses ranging from 34.1% to 67.5% for the year," said Morningstar's Amy Arnott. "Many of its funds enjoyed a strong rebound in 2023, but that wasn't enough to offset their previous losses." And this year isn't off to a good start for ARK, either. ARK Destroyer What's hurting the ARK family's performance? It's mainly the flagship ARK Innovation Fund. The $9.3 billion-in-assets ETF single-handedly destroyed $7.1 billion in investors' wealth in the past 10 years through December 2023, Morningstar found. That ranks ARK Innovation as the third worst destroyer of value. And get this. Investors paid a 0.75% annual fee for the privilege. The biggest individual fund wealth destroyer is ProShares UltraPro Short QQQ (SQQQ), which uses leverage to bet against the soaring Nasdaq 100. But at least investors know you shouldn't hold this ETF long term. But it's not the only struggling ARK fund. ARK Genomic Revolution ETF (ARKG) shredded $4.2 billion in wealth in 10 years. That makes it the fifth worst fund….” Top Wealth Destroyers Among fund families in past 10 years Family Wealth destroyed ($ billions) Size ($ billions) ARK ETF Trust -$14.3 $16.1 Krane Shares -6.5 7.2 Credit Suisse -5.3 2.3 Global X Funds -4.6 39.5 ProShares -4.3 68.8 Barclays -3 1.3 AdvisorShares -2.2 1 Cromwell Funds -1.9 0.4 ETFMG -0.5 3.7 Roundhill Investments -0.55 0.7 https://www.investors.com/etfs-and-...calls-cathie-wood-the-worst-wealth-destroyer/
Well, not that I'm a fan of ARK, but isn't it kinda hypocritical for Morningstar to come out with such a stellar review after the fact? Where the hell were they when Bitcoin, along with most of the equity indices, was making ATH day after day in 2021? Did Morningstar warn that the impending financial storm was just around the corner, even once? Why don't ya go spit on your face instead?
Oh but she's the media's little darling,dont you dare say anything bad about her. She's already been crowned the heir apparent to Buffett when that old geezer kicks the bucket.
But...but...but....what happened to Jesus....? Celebrities Cathie Wood: religious, Reddit hit, Trump supporter? Meet Ark Invest’s rock star stock picker who even has her own merchandise STORY Dorothy So Mar 3 , 2021 https://www.scmp.com/magazines/styl...religious-reddit-hit-trump-supporter-meet-ark Cathie Wood, staunch Christian, founder of Ark Invest and darling of Reddit thanks to her championing of openness in the financial sector for the benefit of individual investors. Photo: Ark Invest The devout Christian investment adviser looks up to Elon Musk and supported Donald Trump’s re-election because of his innovation-friendly policies Innovative stock firm Ark Invest focuses solely on disruptive tech like AI, robotics, energy storage, DNA sequencing, blockchain and autonomous ride-hailing Cathie Wood is widely recognised as one of the most influential fund managers in the industry right now. After working for more than four decades at leading investment firms, she founded Ark Investment Management LLC (often shortened to Ark Invest) in 2014 to focus on innovative companies with a vision to reimagine the status quo – after finding inspiration in the writings of the Christian bible.
I would rather buy BIBL because of its non showy and modest return. Inspire 100 ETF NYSEARCA: BIBL 35.85 USD+3.38 (10.41%)past year
Cathie Wood: a tech investor doing God’s work Wildly successful fund manager rides her go-go investment creed amid a speculative market boom Cathie Wood: a tech investor doing God’s work on x. Cathie Wood: a tech investor doing God’s work on facebook Cathie Wood: a tech investor doing God’s work on linkedin Michael Mackenzie March 13 2021 https://www.ft.com/content/4df2b4cf-2ffe-4db5-9594-47e05e1e2240 Earlier this week, and for no obvious reason, Cathie Wood’s $23bn flagship Ark investment innovation fund rose 10 per cent in a day. On Wall Street that kind of bounce is usually a warning sign of frothy markets, especially given Ark’s recent price falls. Not for Wood. “Buy the dip,” is a catchphrase........
What I'm more interested in knowing is can folks like Cathie Wood face penalty or prosecution like Henry Blodget, who was fined and banned by SEC for having falsely giving exaggerated price target (especially if it lost a ton of money for the customers in the end)? I can see that she's in a different league than Blodget, but does that give her the right to throw around price targets as if she's throwing pepperonis on a pizza?