ARK Web x.O
ALTAR
Score™
-0.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
110.5x P/Sales
ratio
5.4x
P/BV
ratio
8.8x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ARK Web x.O 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 Web x.O. These companies are focused on shifting technology infrastructure from hardware and software to the cloud, enabling mobile and local services. Companies may generate their entire business through websites.

FUND BASICS
Category Global Equities
Fund Sponsor ARK Investment Management LLC
Website www.ark-funds.com
Inception date Sep 30, 2014
Assets (mns) $553
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 44
Wgt avg mkt cap (mns) $91,323
Large cap (>$10bn) 75.3%
Mid cap ($2-10bn) 17.6%
Small cap (<$2bn) 7.1%
Developed mkts 87.7%
Emerging mkts 12.3%

TOP TEN HOLDINGS
TESLA MOTORS INC 9.5 %
SQUARE, INC. CLASS A 8.3 %
TWITTER INC 4.4 %
ROKU, INC. CLASS A 4.2 %
TENCENT HOLDINGS LTD-UNS ADR 3.5 %
NETFLIX INC 3.5 %
XILINX INC 3.2 %
PINTEREST, INC. CLASS A 3.1 %
SPLUNK INC 3.1 %
MERCADOLIBRE INC 3.0 %
Total 45.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.3 %
CHINA 10.4 %
ARGENTINA 3.0 %
LUXEMBOURG 1.5 %
SINGAPORE 1.5 %
CANADA 1.2 %
BRITAIN 1.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.7% 27.6% 29.5% -- 28.0%

Market Correlations
versus... Beta R-squared
S&P500 1.31 51%
MSCI EAFE 1.19 35%
MSCI Emg. Mkts. 0.83 30%

Technical Indicators
Recent close $70.04
30d moving avg. $63.83
Annualized volatility 22.2%
Short interest (ETF) 0.2%
Short interest (Underlying) 9.1%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 200
Turnover 2.5%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $40,155

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the ARK Web x.O ETF based on the alternatives' overlap in portfolio holdings with ARKW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ARKW Expense: 75 bp ALTAR Score™: -0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ARKW
Ticker Fund
Name
Overlap1
vs ARKW
(%)
Expense
ratio
(bp)
Savings
vs ARKW
(bp)
ALTAR
Score™
(%)
ALTAR
vs ARKW
(%)
ARKK ARK Innovation 51.8 75 0 -3.0 -2.5
ARKF ARK Fintech Innovation 46.4 75 0 1.3 +1.8
GIGE SoFi Gig Economy 31.5 59 16 -0.0 +0.5
PLAT WisdomTree Modern Tech Platforms 30.0 45 30 2.2 +2.7
OGIG O'Shares Global Internet Giants 27.5 48 27 1.0 +1.5
XITK SPDR FactSet Innovative Technology 26.1 45 30 0.6 +1.1
ARKQ ARK Industrial Innovation 25.4 75 0 1.1 +1.6
AIQ Global X Future Analytics Tech 23.7 68 7 4.0 +4.6
XNTK SPDR NYSE Technology 22.3 35 40 4.4 +5.0
BOSS Global X Founder-Run Companies 20.6 45 30 3.3 +3.8
SKYY First Trust Cloud Computing 20.2 60 15 2.4 +2.9
PNQI Invesco Nasdaq Internet 18.1 62 13 2.3 +2.8
ENTR ERShares Entrepreneur 30 18.1 49 26 2.7 +3.2
FDN First Trust DJ Internet 17.8 52 23 3.0 +3.5
IRBO iShares Robotics and Artificial Intelligence 17.1 47 28 2.7 +3.2
CLOU Global X Cloud Computing 16.6 68 7 1.0 +1.6
GBUY Goldman Sachs Motif New Age Consumer 16.3 50 25 2.6 +3.1
LOUP Innovator Loup Frontier Tech 16.3 70 5 3.4 +3.9
TTTN TigerShares China-U.S. Internet Titans 16.2 59 16 3.5 +4.0

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 Web x.O
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 2.0 %
Divided by: Fwd. P/BV 8.6 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
1.52 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.