ARK Industrial Innovation
ALTAR
Score™
0.9% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
54.4x P/Sales
ratio
2.6x
P/BV
ratio
3.3x Div.
yield
0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ARK Industrial Innovation ETF is an actively-managed exchange-traded fund incorporated in the USA. The Fund will invest in equity securities of companies relevant to the theme of industrial innovation. Companies are expected to focus on the development of new products and services, technological improvements, and advancements in scientific research related to multiple industries.

FUND BASICS
Category Global Equities
Fund Sponsor ARK Investment Management LLC
Website www.ark-funds.com
Inception date Sep 30, 2014
Assets (mns) $159
Currency USD
Expense ratio 75 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Proprietary
Index replication N/A
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 37
Wgt avg mkt cap (mns) $91,932
Large cap (>$10bn) 62.4%
Mid cap ($2-10bn) 11.7%
Small cap (<$2bn) 25.9%
Developed mkts 90.7%
Emerging mkts 9.3%

TOP TEN HOLDINGS
TESLA MOTORS INC 11.7 %
STRATASYS LTD. 8.3 %
PROTO LABS INC 5.5 %
MATERIALISE NV SPONSORED ADR 5.2 %
NVIDIA CORP 5.0 %
TERADYNE INC 4.2 %
APTIV PLC 4.2 %
2U INC 4.0 %
AEROVIRONMENT INC 4.0 %
SPLUNK INC 3.7 %
Total 55.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 74.7 %
CHINA 8.2 %
BELGIUM 5.2 %
IRELAND 4.2 %
NETHERLANDS 2.0 %
ISRAEL 1.6 %
JAPAN 1.1 %
TAIWAN 1.1 %



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.
18.0% 7.6% 12.4% -- 12.7%

Market Correlations
versus... Beta R-squared
S&P500 1.50 72%
MSCI EAFE 1.57 66%
MSCI Emg. Mkts. 1.17 58%

Technical Indicators
Recent close $34.67
30d moving avg. $34.40
Annualized volatility 21.3%
Short interest (ETF) 0.2%
Short interest (Underlying) 9.8%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.3%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $20,981

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ARK Industrial Innovation ETF based on the alternatives' overlap in portfolio holdings with ARKQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ARKQ Expense: 75 bp ALTAR Score™: 0.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ARKQ
Ticker Fund
Name
Overlap1
vs ARKQ
(%)
Expense
ratio
(bp)
Savings
vs ARKQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs ARKQ
(%)
ARKK ARK Innovation 34.6 75 0 -4.4 -5.3
ARKW ARK Web x.O 28.0 75 0 -0.8 -1.7
LOUP Innovator Loup Frontier Tech 22.2 70 5 2.7 +1.8
PRNT 3D Printing 19.6 66 9 -0.4 -1.3
XKST SPDR Kensho Smart Mobility 19.0 45 30 5.9 +5.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics 17.7 65 10 2.5 +1.6
XNTK SPDR NYSE Technology 17.4 35 40 5.6 +4.7
GMAN Goldman Sachs Motif Manufacturing Revolution 17.0 50 25 4.8 +3.9
QTEC First Trust NASDAQ 100 Tech 16.2 57 18 6.0 +5.1
KARS KraneShares Electric Vehicles & Future Mobility Index 15.3 70 5 6.5 +5.6
ROBO Robo Global Robotics & Automation 14.8 95 -20 3.6 +2.7
EKAR Innovation Shares NextGen Vehicles & Technology 14.8 95 -20 6.9 +6.0
IDRV iShares Self-driving EV & Tech 14.7 47 28 8.9 +8.0
IRBO iShares Robotics and Artificial Intelligence 14.2 47 28 1.9 +1.0
ARKF ARK Fintech Innovation 13.8 75 0 1.8 +0.9
GDAT Goldman Sachs Motif Data-Driven World 13.5 50 25 6.0 +5.1
DRIV Global X Autonomous & Electric Vehicles 13.0 68 7 7.5 +6.6
SOXX iShares PHLX SOX Semiconductor 12.8 46 29 6.1 +5.2
SMH VanEck Vectors Semiconductors 12.4 35 40 6.3 +5.4
IFLY ETFMG Drone Economy Strategy 12.1 75 0 0.8 -0.1

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

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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 Industrial Innovation
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.0 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 0.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.