ARK's new Transparency ETF to begin trading on 8th December
Investing.com
Published Dec 07, 2021 10:22
By Samuel Indyk
Investing.com – Cathie Wood’s ARK Invest has announced that its new ARK Transparency ETF will begin trading on the CBOE BZX Exchange tomorrow. The ETF will trade with the ticker symbol CTRU.
The Transparency ETF will be ARK’s third index exchange-traded fund as it seeks to provide investment results that closely correspond, before fees and expenses, to the Transparency Index (TRANSPCY). The index is designed to track the price movements of stocks that are deemed to be the 100 most transparent companies globally by Transparency Invest LLC based on a proprietary scoring methodology.
ARK said it believes transparent companies have less friction which lead to exponential growth opportunities.
h2 Holdings/h2The top 5 holdings of the ETF according to the factsheet are Cloudflare (NYSE:NET) (1.58%), Bloom Energy (NYSE:BE) (1.53%), Enphase Energy (NASDAQ:ENPH) (1.41%), Tesla (NASDAQ:TSLA) (1.31%) and Spotify (NYSE:SPOT) (1.17%).
The companies held in the ETF range from small-cap ($300 million-$2 billion) to mega-cap (over $100 billion).
From a geographical perspective, the majority of companies are from North America (83.1%), followed by Western Europe (9.04%) and Asia Pacific (+3.7%).
h2 Performance/h2ARK’s flagship Innovation ETF (NYSE:ARKK) has had a disappointing year after a stellar 2020 where Cathie Wood became a household name. The fund has dropped around 23% year-to-date and had its worst week since February last week as some unprofitable growth stocks declined amid the recent heightened volatility.
Only two of ARK’s eight ETFs have had a positive 2021 year-to-date, the 3D Printing ETF (NYSE:PRNT) (+6.9%) and the Autonomous Technology & Robotics ETF (NYSE:ARKQ) (+2.8%).
ARK’s Genomic Revolution ETF (NYSE:ARKG) is the worst performing ETF in Cathie Wood’s stable this year with a 36.5% decline.
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