With Funds Down, Cathie Wood ‘Soul Searching’ but Staying Course
- Wood says higher interest-rate fears have weighed on Ark funds
- Ark’s flagship innovation ETF has fallen over 20% in 2021
This article is for subscribers only.
Ark Investment Management is “going through soul-searching” but sticking to its strategy as its growth-focused funds fall out of favor amid expectations of tighter Federal Reserve policy, said founder Cathie Wood.
The $17.8 billion ARK Innovation ETF has tumbled more than 20% this year, with several of its top holdings like electric-vehicle giant Tesla Inc. and video-streaming platform Roku Inc. down from their peaks. During the same period, the S&P 500 Index climbed about 24%.