Cathie Wood’s ARKK attracts most inflows among thematic ETF over past 12 months
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Cathie Woodâs flagship ARKK Innovation ETF (NYSEARCA:ARKK) had a dismal performance in 2022, yet still managed to outperform the competition in one crucial stat: asset inflows.
Over the course of the last twelve months, ARKK was able to attract $1.78B worth of investor capital. This came despite the fact that the fund has crashed 54.6% over that time, dragged lower by names like Exact Sciences (EXAS), Zoom Video Communications (ZM) and Tesla (TSLA).
The nearly $1.8B in inflows marked the highest total within the sphere of 256 thematic ETFs. For reference, the thematic ETFs that came in second and third place on the list were the SPDR S&P Global Natural Resources ETF (NYSEARCA:GNR) and the iShares U.S. Infrastructure ETF (BATS:IFRA). They amassed inflows of $1.19B and $990.20M, respectively, over the last 12 months. All data is per a Bloomberg tweet.
Meanwhile, the pattern has shifted so far in 2023. In the first few weeks of the year, Wood and her team have watched $204.01M exit the door despite the ETF being up 10.2% YTD.
With 2022's decline in innovation stocks, some high-profile investors were able to profit by shorting the group. Those names include David Einhorn, whose Greenlight Capital hedge fund benefitted by shorting what he described as âbubble stocks."