ARK Invest expanded on its line of innovative technology ETFs with a new option that focuses on Israeli companies.
On Tuesday, ARK launched the ARK Israel Innovative Technology ETF (Cboe: IZRL), which has a 0.49% expense ratio.
ARK Israel Innovative Technology ETF will try to reflect the performance of the ARK Israeli Innovation Index, which is comprised of Israeli companies whose main business operations are causing disruptive innovation in the areas of genomics, health care, biotechnology, industrials, manufacturing, the Internet or information technology, according to a prospectus sheet.
Since its inception on October 1, 2015 through the end of September 2017, the underlying ARK Israeli Innovation Index has returned 17.9% at a compound annual rate, outperforming the MSCI Israel Index’s -10.1% annualized return, the MSCI Israel Capped Investable Market Index’s 4.3% annualized return and the BlueStar Israel Global Index’s 3.3% annualized return.