Investors yank $2.2 billion from Cathie Wood’s once-mega popular Ark funds, even as tech skyrockets

Fortune04-25

Cathie Wood’s star rose during the pandemic for well-timed bets in companies such as Tesla, Zoom, and Roku, but those same bets are now dragging her Ark funds down and investors have withdrawn ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors yank $2.2 billion from Cathie Wood’s once-mega popular Ark funds, even as tech skyrockets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-25 06:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/investors-yank-2-2-billion-221813707.html><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s star rose during the pandemic for well-timed bets in companies such as Tesla, Zoom, and Roku, but those same bets are now dragging her Ark funds down and investors have withdrawn ...</p>\n\n<a href=\"https://finance.yahoo.com/news/investors-yank-2-2-billion-221813707.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ZM","symbol_name":"Zoom","start_time":0,"source_url":"https://finance.yahoo.com/news/investors-yank-2-2-billion-221813707.html","article_id":"2430195416","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/YroovE1UDrgewHSK05naiw--~B/aD0xMzY1O3c9MjA0ODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/fortune_175/d604d35ff7e0def382f2785695afe8a9"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430195416","pubTimestamp":1713997093,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Cathie Wood’s star rose during the pandemic for well-timed bets in companies such as Tesla, Zoom, and Roku, but those same bets are now dragging her Ark funds down and investors have withdrawn billions of dollars this year in protest.Funders have since January pulled $2.2 billion from six actively managed ETFs by Wood’s company, Ark Investment Management—a major jump from the $760 million investors took out last year, the Wall Street Journal reported. In total, the assets invested in the six ETFs have fallen 30% since the start of the year to $11.1 billion, down 81% from their peak in 2021.Wood’s popularity is one of the main draws for investors to put money into Ark. Through a frenzy of TV appearances and persistent social media outreach she became a celebrity both on and off Wall Street. Still, Morningstar analyst Robby Greengold wrote in an April note that Ark’s focus on Wood is part of the problem.The company’s flagship fund is down about 12% year-to-date. It closed up less than 1%","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ZM":"Zoom","BK4588":"碎股","BK4550":"红杉资本持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4551":"寇图资本持仓","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","ROKU":"Roku Inc","TSLA":"特斯拉","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4099":"汽车制造商","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4528":"SaaS概念","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4023":"应用软件","BK4532":"文艺复兴科技持仓","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4554":"元宇宙及AR概念","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","ISBC":"投资者银行","BK4108":"电影和娱乐","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4585":"ETF&股票定投概念","LU2063271972.USD":"富兰克林创新领域基金","LU0056508442.USD":"贝莱德世界科技基金A2","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4535":"淡马锡持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","ARKK":"ARK Innovation ETF"},"translate_title":"投资者从凯西·伍德一度大受欢迎的方舟基金中撤出22亿美元，尽管科技股飞涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARKK":1,"ISBC":1,"TSLA":0.9,"ZM":0.69,"ROKU":0.69},"content_text":"Cathie Wood’s star rose during the pandemic for well-timed bets in companies such as Tesla, Zoom, and Roku, but those same bets are now dragging her Ark funds down and investors have withdrawn billions of dollars this year in protest.\nFunders have since January pulled $2.2 billion from six actively managed ETFs by Wood’s company, Ark Investment Management—a major jump from the $760 million investors took out last year, the Wall Street Journal reported. In total, the assets invested in the six ETFs have fallen 30% since the start of the year to $11.1 billion, down 81% from their peak in 2021.\nWood’s popularity is one of the main draws for investors to put money into Ark. Through a frenzy of TV appearances and persistent social media outreach she became a celebrity both on and off Wall Street. Still, Morningstar analyst Robby Greengold wrote in an April note that Ark’s focus on Wood is part of the problem.\n“Wood’s reliance on her instincts to construct the portfolio is a liability,” Greengold wrote.\nSome of Wood’s biggest stock picks have plummeted this year even as tech stocks have led gains in the market and the S&P 500 has increased 6.3%. Tesla, which makes up about 9.45% of Wood’s flagship Ark Innovation ETF and is its second-largest holding, fell more than 50% on Tuesday after reporting lackluster first quarter earnings. Even after a Wednesday morning rebound, the company’s shares are still down about 35% year-to-date. Some of Ark’s other holdings such as Zoom and Roku are down 11.5% and 31%, respectively, over the same period. \nWood has defended her decision to offload the Ark Innovation ETFs’ holdings in chipmaker Nvidia just before a rally that has seen its shares jump 200% in a year. She said in May that Nvidia was facing increased competition from other tech companies like Tesla, Meta, and Apple, and added that it was time for a readjustment.\n“We’re just pivoting to another set of plays that most people have not discovered yet,” Wood said at the time. “Much like they did not understand that Nvidia was an AI play, really, until very recently.”\nA bright spot for Wood has been Coinbase, the Ark Innovation ETFs’ largest holding. Shares of the crypto exchange have jumped about 47% since January but are still far off their highs from 2021.\nIn total, Morningstar estimates that in the decade since it launched its first funds, Ark Invest has destroyed more than $14 billion in investor wealth, more than any other asset manager over the same period. \nArk Invest did not immediately respond to Fortune’s request for comment, but a spokeswoman told the Wall Street Journal that its 109% return on its flagship fund since 2014 was evidence of its strong value creation.\nThe company’s flagship fund is down about 12% year-to-date. It closed up less than 1% at $43.90 as of Wednesday afternoon.\nThis story was originally featured on Fortune.com","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430195416"}