Worse yet, shares of companies held by the ARK Innovation fund were down 70% on average from their 5-year highs.
After riding high early in the pandemic, Cathie Wood’s flagship ARK Innovation exchange-traded fund ARKK, +4.05% has tumbled more than 60% from its February 2021 peak, according to Bespoke Investment Group.Only one stock in the fund — Signify Health Inc. SGFY, +0.76% — was up on the year, while its overall holdings were down 40.8% on average in 2022, according to the Bespoke report issued late Tuesday.
Read: ‘Private markets get it,’ but disruptive tech is beaten-up in the stock market, says ARK’s Cathie Wood “Given that TSLA is by far the largest ARKK holding with a 10.55% weight, its smaller decline relative to the rest of the ETF’s holdings has helped ARKK from falling even more,” Bespoke analysts wrote.
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