ARKF
ARK Fintech Innovation ETF
ARKF is an actively managed Exchange Traded Fund (ETF) that seeks long-term growth of capital by investing in companies engaged in financial technology innovation.
Global
EQUITY
Active
MANAGEMENT STYLE
75 bp
EXPENSES
$847.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | ARK |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 01, 2019 |
| Assets (mns) | $847 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| COINBASE GLOBAL, INC. CLASS A | 11.9 % |
| SHOPIFY, INC. CLASS A | 7.8 % |
| BLOCK INC. | 7.0 % |
| DRAFTKINGS INC CLASS A | 5.5 % |
| TOAST, INC. CLASS A | 4.8 % |
| ROBINHOOD MARKETS, INC. CLASS A | 4.7 % |
| PINTEREST, INC. CLASS A | 3.8 % |
| SOFI TECHNOLOGIES INC | 3.8 % |
| ADYEN NV | 3.7 % |
| ROBLOX CORP. CLASS A | 3.7 % |
Constituent Breakdown
| Number of holdings | 31 |
| Herfindahl-Hirschman Index | 497 |
| Wgt avg mkt cap (mns) | $76,186 |
| Large cap (>$10bn) | 81.7% |
| Mid cap ($2-10bn) | 18.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 92.6% |
| Emerging mkts. | 7.4% |
Country Exposure
 |
UNITED STATES | 67.5 % |
 |
CANADA | 7.8 % |
 |
NETHERLANDS | 3.7 % |
 |
ARGENTINA | 2.8 % |
 |
SOUTH AFRICA | 2.3 % |
 |
CAYMAN ISLANDS | 2.0 % |
 |
ISRAEL | 1.9 % |
 |
JAPAN | 1.7 % |
 |
SINGAPORE | 1.5 % |
 |
LUXEMBOURG | 1.4 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -4.5% | 26.0% | 30.4% | -21.3% | 3.4% | -- | 4.5% | Volatility | 29.6% | 31.2% | 43.7% | 46.8% | 42.2% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.98 | 61% |
| MSCI EAFE | 1.79 | 47% |
| MSCI Emg Mkts | 1.59 | 37% |
Liquidity Measures
| Avg. volume (000) | 584 |
| Turnover | 1.9% |
| Avg. Bid/Ask (% of price) | 0.05% |
| ADV of underlying (mns) | $64,476 |
Technical Indicators
| Recent close | $27.14 |
| 30d moving avg. | $28.13 |
| Annualized volatility | 45.7% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 4.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ARKF |
Expenses vs. ARKF |
ALTAR Score™ vs. ARKF |
|---|---|---|---|---|
| ARKW | ARK Next Generation Internet ETF | 47.3% | +12 bp | -0.6% |
| ARKK | ARK Innovation ETF | 42.8% | 0 bp | -4.0% |
| BWEB | Bitwise Web3 ETF | 31.2% | +10 bp | +1.2% |
| FINX | Global X FinTech ETF | 25.2% | -7 bp | +3.6% |
| BLOK | Amplify Transformational Data Sharing ETF | 20.6% | 0 bp | +1.2% |
| GFOF | Grayscale Future of Finance ETF | 20.1% | -5 bp | +0.5% |
| IPAY | ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund | 19.2% | 0 bp | +6.0% |
| IPO | Renaissance IPO ETF | 18.8% | -15 bp | -1.7% |
| AOTG | AOT Growth and Innovation ETF | 18.7% | 0 bp | +3.7% |
| BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 17.7% | -7 bp | +4.5% |
Risk and Returns: ARKF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ARKF
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
ARKF
-0.3%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -0.3% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. ARKF's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places ARKF in the 19th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ARKF
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| ARKF (75 bp) Percentile rank | 52 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ARKF | 75.0 | 5.1 | 80.1 |
| Peer Avg. | 77.1 | 49.6 | 126.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .