Bullish on Cathie Wood’s popular ARK Innovation ETF (NYSEARCA:ARKK)? AXS Investments launched its AXS 2X Innovation ETF (TARCH) on Monday, a leveraged ETF that tracks the performance of the well-known tech-focused and disruptive fund.
TARK intends to offer the financial community a 200% return on the daily performance of the ARK Innovation ETF. TARK will achieve this by entering into swap agreements to achieve twice the performance of ARKK for a single day.
Some market participants feel that the recent decline in disruptive innovation stocks has fallen too far too fast, and TARK plans to offer these high-conviction investors an option to capitalize on short-term long exposure to a basket of innovative and disruptive companies.
TARK will also begin trading on the Nasdaq and offer an expense ratio of 1.15%.
TARK isn’t the first fund to fork offerings from Wood, which has caught investors’ attention by focusing on the innovation space. The Tuttle Capital Short Innovation ETF (NASDAQ: SARK) has thrived following ARKK’s recent collapse, providing an inverse position to ARKK’s performance.
Year-to-Date Price Action: ARKK -50.9%SARK +71.9%.
In other news from Cathie Wood, last week the CEO of ARK Invest held firm with her commitment to Teladoc Health (TDOC), despite the company’s recent plunge. Wood told CNBC, “Our view is that Teladoc is becoming the backbone of healthcare information in the United States.” Read the full interview.