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Why is Cathy Wood's ARKK Shorting Fund now a very long ETF
The Cathie Wood ARK Innovation Fund Shorting ETF (ARKK) is the big winner in 2022. The Tuttle Capital Short Innovation (SARK) ETF is up more than 75% year-to-date, while the ARKK ETF is down more than 55% over the sam...
Updated: 48 months ago2 min read
after seeing interest in the ARKK ETF, the company decided to add an ultra-long ETF.
The Cathie Wood ARK Innovation Fund Shorting ETF (ARKK) is the big winner in 2022. The Tuttle Capital Short Innovation (SARK) ETF is up more than 75% year-to-date, while the ARKK ETF is down more than 55% over the same period.
And now, the creators behind the SARK ETF are resetting with their newest tool, the AXS 2X Innovation ETF (TARK). This new long-term leveraged ETF aims to double the returns on the ARKK ETF.
Matt Tuttle, managing director of AXS Investments, launched the short-lived ETF in response to a search for ways to bet against the Wood ETF. However, after seeing interest in the ARKK ETF, the company decided to add an ultra-long ETF.
"The only thing some people will agree on is that this is an ETF that will move and will make big moves. So we wanted to give investors a tactical opportunity to play on both sides," Tuttle said in an interview with news ETF Edge Monday.
In an interview with CNBC's Bob Pisani last month, ARKK founder Katie Wood described the SARK ETF as a cutting-edge American innovation.
Tuttle refuted that statement, saying, "What we provide here are tools. [Cathy] once went to CNBC and said, "ARKK is an index of innovations." Every index there is, there are tools you can use, and there are tools. that you can use," said the creators of SARK.
"A lot of things that are happening in China are terrifying from an investment perspective. So we don't think it goes against KWEB - it's just another tool that investors use to protect their portfolios," said Tuttle.
"This is a new room, so only time will tell. My conclusion is that the more tools there are, the better," Davey said.
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