ARK Fintech Innovation
ALTAR
Score™
1.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
72.5x P/Sales
ratio
4.9x
P/BV
ratio
5.5x Div.
yield
0.4%


  • 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 04, 2019
Assets (mns) $79
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) $185,433
Large cap (>$10bn) 78.0%
Mid cap ($2-10bn) 20.0%
Small cap (<$2bn) 2.0%
Developed mkts 81.1%
Emerging mkts 19.0%

TOP TEN HOLDINGS
SQUARE, INC. CLASS A 9.8 %
APPLE INC 6.1 %
TENCENT HOLDINGS LTD-UNS ADR 4.9 %
ZILLOW GROUP, INC. CLASS C 4.8 %
LINE CORP. 4.6 %
ALIBABA GROUP HOLDING LTD. SPONSOR 4.0 %
LENDINGTREE, INC. 3.9 %
MERCADOLIBRE INC 3.7 %
MEITUAN DIANPING 3.2 %
SPLUNK INC 3.0 %
Total 48.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 58.6 %
CHINA 18.2 %
JAPAN 8.6 %
ARGENTINA 3.8 %
NETHERLANDS 2.1 %
INDIA 2.0 %
TAIWAN 1.8 %
CANADA 1.6 %
GERMANY 1.5 %
SOUTH AFRICA 0.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
12.7% -- -- -- 12.7%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $23.65
30d moving avg. $23.04
Annualized volatility 0.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.5%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $27,579

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the ARK Fintech Innovation 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™: 1.8%


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.O 47.5 75 0 -0.8 -2.6
PLAT WisdomTree Modern Tech Platforms 34.7 45 30 2.8 +1.0
GIGE SoFi Gig Economy 33.4 59 16 0.4 -1.4
XNTK SPDR NYSE Technology 26.0 35 40 5.7 +3.9
ARKK ARK Innovation 24.5 75 0 -4.4 -6.2
OGIG O'Shares Global Internet Giants 23.2 48 27 1.5 -0.3
BLCN Reality Shares NASDAQ NextGen Economy 19.8 68 7 5.6 +3.7
AIQ Global X Future Analytics Tech 19.3 68 7 4.6 +2.8
FINX Global X FinTech Thematic 18.7 68 7 3.3 +1.4
BLOK Amplify Transformational Data Sharing 18.1 70 5 5.5 +3.7
IETC iShares Evolved U.S. Technology 17.9 18 57 4.9 +3.1
GFIN Goldman Sachs Motif Finance Reimagined 17.6 50 25 4.9 +3.1
IGM iShares S&P N. American Technology 17.3 46 29 4.6 +2.8
SKYY First Trust Cloud Computing 17.0 60 15 2.4 +0.6
EBIZ Global X E-commerce 16.4 68 7 2.8 +1.0
TTTN TigerShares China-U.S. Internet Titans 16.4 59 16 3.9 +2.1
KOIN Innovation Shares NextGen Protocol 16.0 95 -20 4.7 +2.9
TMFC Motley Fool 100 Index 16.0 50 25 4.3 +2.5
ENTR ERShares Entrepreneur 30 15.5 49 26 3.9 +2.1

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

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
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 13.0 %
Divided by: Fwd. P/BV 5.1 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 1.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.55
 
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.