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The leveraged Cathie Wood-focused AXS 2X Innovation ETF (NASDAQ:TARK) has recently celebrated its one-year trading anniversary.
TARK, which debuted last May, is meant to double the returns for single-day performances for ARK Innovation ETF (NYSEARCA:ARKK). Over its first year, TARK has lost 44.4% as ARKK dropped 8%.
Recently, though, both TARK and ARKK have seen a resurgence. For 2023, ARKK and TARK are higher by 23.8% and 37.7%, respectively.
Since it hit the market, TARK has attracted $52.56M in capital. The ETF has a net expense ratio of 1.15%.
“There is a very large contingent of traders and investors who believe in the bullish thesis for disruptive innovation, and we’re very proud to be marking TARK’s one-year anniversary as a key vehicle for this investor cohort,” said Greg Bassuk, Chief Executive Officer of AXS Investments.
“Enabling first-of-its-kind access for investors to express a view on disruptive innovation required some disruptive innovation of our own, so we’re pleased to offer a range of additional solutions through which investors can achieve their objectives.”
For reference, AXS Investments also offers investors the option to short innovation as well through the AXS Short Innovation ETF (NASDAQ:SARK), which seeks to provide the -1X inverse daily returns of disruptive technology stocks.
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Investors pump nearly $14B into ETFs & conventional funds last week
Image and article originally from seekingalpha.com. Read the original article here.