Now that we have some live trading history behind us which registers some simple technical signals, we can take a deeper look at the rather new to market, actively managed ARK Investment Management ETFs that debuted in late September and into October of this year.
None of the funds are terribly large in asset size to date understandably, but recent price momentum in several of their funds, particularly ARKG (ARK Genomic Revolution Multi-Sector, Expense Ratio 0.95%). We see top positions in the actively managed fund in ILMN (>7.9%), MON (>6.6%), TMO (>6.4%), CPHD (>4.8%), and FMI (>4.1%) with an interesting mix of overall portfolio exposure in various market caps (>23% in Mega Caps, >23% Large Caps, >17% Mid-Caps, >7% Small Caps, and an intriguing >23% of the fund dedicated to Microcap names in the space).
This morning the fund has traded at yet another new high since inception. The three other offerings from ARK, ARKQ (ARK Industrial Innovation ETF, Expense Ratio 0.95%), ARKW (ARK Web x.0 ETF, Expense Ratio 0.95%), ARKK (ARK Innovation ETF, Expense Ratio 0.95%) are actually all notionally larger than ARKG in terms of current asset levels, although the fund family remains small in the early going with about $25 million in collective assets under management across these funds.
A quick look at the short term charts in any of the aforementioned funds shows a common trend, momentum increasing and price seeming to break out in the midst of the current global equity rally.
ARK Genomic Revolution Multi-Sector ETF
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