Katie Wood's famous market produce is missing

The vast gains that had made Cathy Wood one of the world's most prominent proponents of active fund management quickly evaporated as some of her favorite stocks collapsed.

After years of entering the market, and just days after Wood launched a broad exchange for passive investing, his flagship ARK Innovation ETF looks poised to give up all the advantages it once enjoyed during the S&P 500 tech crash victimized as investors fled. -stock growth amid rising interest rates and high inflation.

The fund's net asset value is still up from $20.12 in the last week of October 2014 when it launched to $45.59 on Friday -- up about 127%, according to the company's website. But the S&P 500 had a total return of 136% over the same period. On Monday, the situation worsened when ARK Innovation fell nearly 10 percent compared to a 3 percent drop in the benchmark US index. Wood's company did not immediately respond to a request for comment, which was sent after business hours.

The shift in sentiment towards tech stocks was the perfect storm for Wood, founder of Ark Investment Management LLC. Rising interest rates disrupted stock valuations, while fears of economic growth have dampened speculation - exposing stocks to companies relying on highly vulnerable new technologies.

Of course, not all of Wood's funds gave up their supremacy. According to data from Bloomberg, the more miniature ARK Next Generation internet ETF still managed to trail the S&P 500 after falling from its peak.

Timber seems committed to the tech space despite its recent losses. In a recent tweet, he pointy out that the global economy was undergoing the most significant technological change in history and talked about the potential of Zoom Video Communications Inc. and Microsoft Corp.