ARK Fintech Innovation ETF
ALTAR
Score™
0.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
168.5x P/Sales
ratio
6.1x
P/BV
ratio
6.3x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ARKF is an actively managed Exchange Traded Fund (ETF) that seeks long-term growth of capital by investing in companies engaged in financial technology innovation.

FUND BASICS
Category Global Equities
Fund Sponsor ARK
Website ark-funds.com
Inception date Feb 01, 2019
Assets (mns) $229
Currency USD
Expense ratio 75 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 44
Wgt avg mkt cap (mns) $224,260
Large cap (>$10bn) 81.4%
Mid cap ($2-10bn) 16.9%
Small cap (<$2bn) 1.8%
Developed mkts 80.9%
Emerging mkts 19.1%

TOP TEN HOLDINGS
SQUARE, INC. CLASS A 12.1 %
MERCADOLIBRE INC 5.5 %
TENCENT HOLDINGS LTD-UNS ADR 4.8 %
ZILLOW GROUP, INC. CLASS C 4.8 %
APPLE INC 4.5 %
LENDINGTREE, INC. 4.3 %
PAYPAL HOLDINGS INC 3.9 %
MEITUAN DIANPING 3.6 %
PINTEREST, INC. CLASS A 3.5 %
PINDUODUO, INC. SPONSORED ADR CLAS 3.4 %
Total 50.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 61.4 %
CHINA 17.8 %
JAPAN 5.5 %
ARGENTINA 5.5 %
NETHERLANDS 3.0 %
SINGAPORE 2.1 %
INDIA 1.5 %
TAIWAN 1.1 %
SOUTH AFRICA 0.8 %
GERMANY 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
31.7% 41.2% -- -- 36.1%

Market Correlations
versus... Beta R-squared
S&P500 1.30 76%
MSCI EAFE 1.30 71%
MSCI Emg. Mkts. 1.01 65%

Technical Indicators
Recent close $32.77
30d moving avg. $30.02
Annualized volatility 31.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 202
Turnover 2.9%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $60,959

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the ARK Fintech Innovation ETF ETF based on the alternatives' overlap in portfolio holdings with ARKF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ARKF Expense: 75 bp ALTAR Score™: 0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ARKF
Ticker Fund
Name
Overlap1
vs ARKF
(%)
Expense
ratio
(bp)
Savings
vs ARKF
(bp)
ALTAR
Score™
(%)
ALTAR
vs ARKF
(%)
ARKW ARK Web x.0 ETF 46.7 76 -1 -0.8 -1.4
GIGE SoFi Gig Economy ETF 33.2 59 16 -0.5 -1.0
OGIG O'Shares Global Internet Giants ETF 27.7 48 27 0.7 +0.2
BUYZ Franklin Disruptive Commerce ETF 25.5 50 25 -0.2 -0.7
ARKK ARK Innovation ETF 21.4 75 0 -2.9 -3.4
PLAT WisdomTree Modern Tech Platforms Fund 20.3 45 30 1.2 +0.7
BLOK Amplify Transformational Data Sharing ETF 20.2 70 5 4.8 +4.3
MILN Global X Millennials Thematic ETF 18.8 50 25 2.5 +2.0
AIQ Global X Future Analytics Tech ETF 18.7 68 7 3.9 +3.4
GBUY Goldman Sachs Motif New Age Consumer ETF 18.6 50 25 1.9 +1.4
FINX Global X FinTech Thematic ETF 18.6 68 7 4.2 +3.7
BLCN Reality Shares Nasdaq NextGen Economy ETF 18.4 68 7 4.2 +3.7
TECB iShares US Tech Breakthrough Multisector ETF 18.3 40 35 4.0 +3.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 18.0 86 -11 2.2 +1.7
GFIN Goldman Sachs Motif Finance Reimagined ETF 17.6 50 25 5.4 +4.9
XITK SPDR FactSet Innovative Technology ETF 17.4 45 30 0.3 -0.2
IETC iShares Evolved U.S. Technology ETF 17.3 18 57 3.8 +3.3
TTTN UP Fintech China-U.S. Internet Titans ETF 17.2 59 16 4.3 +3.7
IGM iShares Expanded Tech Sector ETF 17.0 46 29 3.8 +3.3
GVIP Goldman Sachs Hedge Industry VIP ETF 16.9 45 30 4.7 +4.2
KOIN Innovation Shares NextGen Protocol ETF 16.7 95 -20 4.4 +3.9
FDNI First Trust Dow Jones International Internet ETF 16.7 65 10 2.2 +1.7
PNQI Invesco NASDAQ Internet ETF 16.5 62 13 1.1 +0.6
FDG American Century Focused Dynamic Growth ETF 16.4 45 30 1.8 +1.3
XNTK SPDR NYSE Technology ETF 16.4 35 40 3.7 +3.2
SFYF SoFi 50 ETF 16.4 29 46 5.4 +4.9
FDN First Trust Dow Jones Internet Index Fund 15.9 52 23 2.2 +1.7
VUG Vanguard Growth Index Fund 15.5 4 71 4.1 +3.6
IWF iShares Russell 1000 Growth ETF 15.3 19 56 4.2 +3.7
QYLD Global X NASDAQ 100 Covered Call ETF 15.3 60 15 3.5 +3.0
SCHG Schwab U.S. Large-Cap Growth ETF 15.2 4 71 4.2 +3.6
GENY Principal Millennials Index ETF 15.2 45 30 3.8 +3.3
MGK Vanguard Mega Cap Growth ETF 15.2 7 68 4.2 +3.7
NUSI Nationwide Risk-Managed Income ETF 15.1 68 7 3.5 +2.9
QQQ Invesco QQQ Trust 15.1 20 55 3.9 +3.4
TMFC Motley Fool 100 Index ETF 15.1 50 25 3.8 +3.3
IWY iShares Russell Top 200 Growth ETF 14.9 20 55 4.2 +3.6
ALFA AlphaClone Alternative Alpha ETF 14.8 65 10 3.4 +2.9
VONG Vanguard Russell 1000 Growth Index Fund 14.8 8 67 4.3 +3.8
GDAT Goldman Sachs Motif Data-Driven World Etf 14.6 50 25 5.0 +4.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 14.5 60 15 4.4 +3.9
FPXI First Trust International Equity Opportunities ETF 14.5 70 5 3.3 +2.8
SKYY First Trust Cloud Computing ETF 14.4 60 15 2.2 +1.7
SYG SPDR MFS Systematic Growth Equity ETF 14.4 60 15 4.3 +3.8
THNQ ROBO Global Artificial Intelligence ETF 14.2 68 7 1.9 +1.4
PTF Invesco DWA Technology Momentum ETF 14.2 60 15 1.2 +0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 14.1 4 71 4.4 +3.8
IVW iShares S&P 500 Growth ETF 14.1 18 57 4.2 +3.7
VOOG Vanguard S&P 500 Growth ETF 14.1 10 65 4.3 +3.8
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 14.1 21 54 3.0 +2.5
LRGE ClearBridge Large Cap Growth ESG ETF 14.0 59 16 3.8 +3.3
TPAY Tortoise Digital Payments Infrastructure Fund 14.0 40 35 5.9 +5.4
IUSG iShares Core S&P US Growth ETF 14.0 4 71 4.4 +3.9
ESGU iShares MSCI USA ESG Optimized ETF 13.8 15 60 5.2 +4.6
ESGV Vanguard ESG U.S. Stock ETF 13.7 12 63 5.2 +4.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 13.7 20 55 5.0 +4.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 13.6 7 68 5.3 +4.8
PBUS Invesco PureBeta MSCI USA ETF 13.5 4 71 5.3 +4.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 13.5 2 73 5.4 +4.8
IWL iShares Russell Top 200 ETF 13.5 15 60 5.1 +4.6
EBIZ Global X E-Commerce ETF 13.5 50 25 2.7 +2.2
XLG Invesco S&P 500 Top 50 ETF 13.3 20 55 4.5 +4.0
SCHX Schwab U.S. Large-Cap ETF 13.3 3 72 5.3 +4.8
XWEB SPDR S&P Internet ETF 13.3 35 40 -0.2 -0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 13.3 27 48 5.1 +4.5
VV Vanguard Large-Cap Index Fund 13.3 4 71 5.3 +4.8
BKLC BNY Mellon US Large Cap Core Equity ETF 13.3 0 75 5.3 +4.8
SCHK Schwab 1000 Index ETF 13.2 5 70 5.3 +4.8
MGC Vanguard Mega Cap Index Fund 13.2 7 68 5.3 +4.8
SFY SoFi Select 500 ETF 13.2 0 75 5.3 +4.8
IWB iShares Russell 1000 ETF 13.2 15 60 5.2 +4.7
IYY iShares Dow Jones U.S. ETF 13.1 20 55 5.2 +4.7
VONE Vanguard Russell 1000 ETF 13.1 8 67 5.3 +4.8
ESG FlexShares STOXX US ESG Impact Index Fund 13.0 32 43 5.1 +4.6
VEGN US Vegan Climate ETF 13.0 60 15 5.2 +4.7
SCHB Schwab U.S. Broad Market ETF 12.9 3 72 5.3 +4.8
CATH Global X S&P 500 Catholic Values Custom ETF 12.9 29 46 5.3 +4.8
ADME Aptus Drawdown Managed Equity ETF 12.9 81 -6 3.6 +3.1
SPXE ProShares S&P 500 Ex-Energy ETF 12.9 27 48 5.4 +4.9
OEF iShares S&P 100 ETF 12.9 20 55 4.8 +4.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 12.9 3 72 5.2 +4.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 12.9 20 55 5.4 +4.9
PBP Invesco S&P 500 BuyWrite ETF 12.9 49 26 5.0 +4.5
IWV iShares Russell 3000 ETF 12.9 20 55 5.1 +4.6
VTI Vanguard Total Stock Market Index Fund 12.8 3 72 5.2 +4.7
SPXN ProShares S&P 500 Ex-Financials ETF 12.8 27 48 5.0 +4.5
ECOZ TrueMark ESG Active Opportunities ETF 12.8 58 17 4.4 +3.9
SPY SPDR S&P 500 ETF Trust 12.8 9 66 5.4 +4.9
IVV iShares Core S&P 500 ETF 12.8 4 71 5.5 +4.9
SPLG SPDR Portfolio Large Cap ETF 12.8 3 72 5.5 +5.0
HSPX Global X S&P 500 Covered Call ETF 12.8 65 10 4.9 +4.4
VOO VANGUARD S&P 500 ETF 12.8 3 72 5.5 +5.0
JOYY Infusive Compounding Global Equities ETF 12.8 50 25 3.8 +3.3
VTHR Vanguard Russell 3000 Index Fund 12.8 10 65 5.2 +4.7
CACG ClearBridge All Cap Growth ETF 12.7 54 21 4.4 +3.9
SPTM SPDR Portfolio Total Stock Market ETF 12.6 3 72 5.6 +5.1
SNPE Xtrackers S&P 500 ESG ETF 12.5 11 64 5.2 +4.6
DTEC ALPS Disruptive Technologies ETF 12.5 50 25 3.6 +3.1
NULG Nuveen ESG Large-Cap Growth ETF 12.4 35 40 3.6 +3.1
FTEC Fidelity MSCI Information Technology Index ETF 12.3 8 67 4.6 +4.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
ARK Fintech Innovation ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.6 %
Divided by: Fwd. P/BV 6.1 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 0.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.