ARK Web x.0 ETF
ALTAR
Score™
-0.8% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
21,365.7x P/Sales
ratio
9.0x
P/BV
ratio
13.3x 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) $4,065
Currency USD
Expense ratio 76 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 51
Wgt avg mkt cap (mns) $149,598
Large cap (>$10bn) 74.0%
Mid cap ($2-10bn) 21.1%
Small cap (<$2bn) 3.9%
Developed mkts 85.8%
Emerging mkts 14.2%

TOP TEN HOLDINGS
TESLA MOTORS INC 10.6 %
ROKU, INC. CLASS A 7.3 %
SQUARE, INC. CLASS A 5.4 %
SLACK TECHNOLOGIES, INC. CLASS A 3.9 %
TELADOC INC 3.3 %
SPOTIFY TECHNOLOGY SA 3.3 %
GRAYSCALE BITCOIN TRUST 2.7 %
PINTEREST, INC. CLASS A 2.7 %
PURE STORAGE, INC. CLASS A 2.7 %
TWILIO, INC. CLASS A 2.5 %
Total 44.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 78.2 %
CHINA 8.6 %
LUXEMBOURG 3.3 %
SINGAPORE 2.1 %
ARGENTINA 1.4 %
JAPAN 1.3 %
TAIWAN 1.1 %
BRITAIN 1.0 %
CANADA 1.0 %
NETHERLANDS 0.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
92.4% 115.3% 41.7% -- 36.2%

Market Correlations
versus... Beta R-squared
S&P500 1.42 73%
MSCI EAFE 1.36 55%
MSCI Emg. Mkts. 1.09 55%

Technical Indicators
Recent close $134.61
30d moving avg. $119.82
Annualized volatility 29.6%
Short interest (ETF) 1.6%
Short interest (Underlying) 9.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 712
Turnover 2.4%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $72,794

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the ARK Web x.0 ETF 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: 76 bp ALTAR Score™: -0.8%


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 ETF 60.2 75 1 -2.2 -1.4
ARKF ARK Fintech Innovation ETF 40.3 75 1 0.3 +1.1
ENTR Entrepreneur 30 Fund 32.4 49 27 1.0 +1.8
GIGE SoFi Gig Economy ETF 31.4 59 17 -0.6 +0.2
XITK SPDR FactSet Innovative Technology ETF 29.6 45 31 0.4 +1.2
FDG American Century Focused Dynamic Growth ETF 28.6 45 31 1.5 +2.3
OGIG O'Shares Global Internet Giants ETF 26.6 48 28 0.7 +1.5
SFYF SoFi 50 ETF 22.9 29 47 1.0 +1.8
PNQI Invesco NASDAQ Internet ETF 21.5 60 16 1.1 +1.9
THNQ ROBO Global Artificial Intelligence ETF 21.1 68 8 1.5 +2.3
BUYZ Franklin Disruptive Commerce ETF 21.1 50 26 -0.2 +0.6
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 20.5 99 -23 1.4 +2.2
SLT Pacer Salt High TruBeta US Market ETF 20.5 60 16 3.0 +3.8
XNTK SPDR NYSE Technology ETF 20.3 35 41 3.2 +4.0
FPX First Trust US IPO Index Fund 19.6 58 18 1.3 +2.1
IWFH iShares Virtual Work and Life Multisector ETF 19.4 47 29 0.8 +1.6
ALFA AlphaClone Alternative Alpha ETF 19.3 65 11 -0.5 +0.3
FCTR First Trust Lunt U.S. Factor Rotation ETF 18.7 65 11 2.4 +3.2
BOSS Global X Founder-Run Companies ETF 18.7 45 31 2.9 +3.7
FTC First Trust Large Cap Growth AlphaDEX Fund 18.6 61 15 2.3 +3.1
ARKQ Ark Industrial Innovation ETF 17.9 75 1 0.4 +1.2
JKH iShares Morningstar Mid-Cap Growth ETF 17.9 30 46 1.9 +2.7
FDN First Trust Dow Jones Internet Index Fund 17.8 52 24 1.8 +2.6
BTEK BlackRock Future Tech ETF 17.7 88 -12 0.4 +1.2
GVIP Goldman Sachs Hedge Industry VIP ETF 17.7 45 31 3.4 +4.2
FDMO Fidelity Momentum Factor ETF 17.6 29 47 3.1 +3.9
IQM Franklin Intelligent Machines ETF 17.6 50 26 1.6 +2.4
FXL First Trust Technology AlphaDEX Fund 17.0 61 15 3.6 +4.4
MILN Global X Millennials Thematic ETF 16.6 50 26 2.1 +2.9
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 16.3 75 1 2.3 +3.1
MMLG First Trust Multi-Manager Large Growth ETF 15.8 85 -9 2.0 +2.8
WUGI Esoterica NextG Economy ETF 15.6 75 1 1.3 +2.1
MTUM iShares MSCI USA Momentum Factor ETF 15.6 15 61 4.0 +4.8
BLOK Amplify Transformational Data Sharing ETF 15.6 70 6 5.4 +6.2
GENY Principal Millennials Index ETF 15.4 45 31 3.5 +4.3
SKYY First Trust Cloud Computing ETF 15.1 60 16 2.0 +2.8
QYLD Global X NASDAQ 100 Covered Call ETF 14.8 60 16 3.3 +4.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 14.6 60 16 3.3 +4.1
AIQ Global X Future Analytics Tech ETF 14.5 68 8 3.7 +4.5
QQQM Invesco NASDAQ 100 ETF 14.5 15 61 3.7 +4.5
QQQ Invesco QQQ Trust 14.5 20 56 3.7 +4.5
NUSI Nationwide Risk-Managed Income ETF 14.5 68 8 3.5 +4.3
WFH Direxion Work From Home ETF 14.4 45 31 5.1 +5.9
PTF Invesco DWA Technology Momentum ETF 14.4 60 16 -0.8 0.0
PLAT WisdomTree Modern Tech Platforms Fund 14.3 20 56 1.4 +2.2
TECB iShares US Tech Breakthrough Multisector ETF 14.3 40 36 3.8 +4.6
AIEQ AI Powered Equity ETF 14.2 87 -11 1.9 +2.7
CCON Direxion Connected Consumer ETF 14.1 45 31 1.4 +2.2
XWEB SPDR S&P Internet ETF 14.0 35 41 -0.1 +0.7
TMFC Motley Fool 100 Index ETF 13.8 50 26 3.2 +4.0
ECOZ TrueMark ESG Active Opportunities ETF 13.8 58 18 3.2 +4.0
MXDU Nationwide Maximum Diversification US Core Equity ETF 13.7 34 42 4.4 +5.2
SCHG Schwab U.S. Large-Cap Growth ETF 13.4 4 72 3.3 +4.1
QMOM Alpha Architect U.S. Quantitative Momentum ETF 13.3 49 27 1.1 +1.9
VXF Vanguard Extended Market Index Fund 13.2 6 70 2.8 +3.6
IPO Renaissance IPO ETF 13.0 60 16 1.3 +2.1
IGM iShares Expanded Tech Sector ETF 12.8 46 30 3.5 +4.3
VOT Vanguard Mid-Cap Growth Index Fund 12.7 7 69 2.8 +3.6
WCLD WisdomTree Cloud Computing Fund 12.6 45 31 7.8 +8.6
IWF iShares Russell 1000 Growth ETF 12.3 19 57 3.6 +4.4
CLRG IQ Chaikin U.S. Large Cap ETF 12.3 25 51 5.2 +6.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 12.2 49 27 4.6 +5.4
VUG Vanguard Growth Index Fund 12.1 4 72 3.7 +4.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 12.1 21 55 2.8 +3.6
VONG Vanguard Russell 1000 Growth Index Fund 12.1 8 68 3.7 +4.5
IWP iShares Russell Mid-Cap Growth ETF 11.9 24 52 2.8 +3.6
JHCS John Hancock Multifactor Media & Communications ETF 11.9 40 36 5.1 +5.9
MGK Vanguard Mega Cap Growth ETF 11.8 7 69 3.8 +4.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 11.8 75 1 3.9 +4.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 11.8 59 17 4.0 +4.8
IRBO iShares Robotics & Artificial Intelligence ETF 11.8 47 29 2.4 +3.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 11.8 35 41 4.2 +5.0
PBS Invesco Dynamic Media ETF 11.7 63 13 5.3 +6.1
SYG SPDR MFS Systematic Growth Equity ETF 11.5 60 16 4.0 +4.8
GURU Global X Guru Index ETF 11.5 75 1 3.6 +4.4
FMK First Trust Mega Cap AlphaDEX Fund 11.5 70 6 4.7 +5.5
IWY iShares Russell Top 200 Growth ETF 11.4 20 56 3.7 +4.5
JKE iShares Morningstar Large-Cap Growth ETF 11.4 25 51 2.8 +3.6
NUMG Nuveen ESG Mid-Cap Growth ETF 11.4 40 36 2.0 +2.8
NULG Nuveen ESG Large-Cap Growth ETF 11.4 35 41 3.5 +4.3
IETC iShares Evolved U.S. Technology ETF 11.4 18 58 3.6 +4.4
BLCN Reality Shares Nasdaq NextGen Economy ETF 11.2 68 8 5.1 +5.9
VEGN US Vegan Climate ETF 11.1 60 16 4.7 +5.5
JMOM JPMorgan U.S. Momentum Factor ETF 10.9 12 64 3.2 +4.0
ANEW ProShares MSCI Transformational Changes ETF 10.9 45 31 3.1 +3.9
FDIS Fidelity MSCI Consumer Discretionary Index ETF 10.9 8 68 3.2 +4.0
IYK iShares U.S. Consumer Goods ETF 10.6 43 33 4.5 +5.3
CLOU Global X Cloud Computing ETF 10.6 68 8 0.5 +1.3
SOCL Global X Social Media ETF 10.5 65 11 2.1 +2.9
VFMO Vanguard U.S. Momentum Factor ETF 10.2 13 63 0.3 +1.1
IDRV iShares Self-driving EV & Tech ETF 10.2 47 29 5.4 +6.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 10.0 66 10 2.0 +2.8
ESGV Vanguard ESG U.S. Stock ETF 9.9 12 64 4.7 +5.5
IGV iShares Expanded Tech-Software ETF 9.9 46 30 2.2 +3.0
XT iShares Exponential Technologies ETF 9.9 47 29 4.6 +5.4
HIPR Direxion High Growth ETF 9.7 40 36 4.3 +5.1
GEX VanEck Vectors Global Alternative Energy ETF 9.6 62 14 2.3 +3.1
FCOM Fidelity MSCI Telecommunication Services Index ETF 9.5 8 68 4.5 +5.3

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.0 ETF
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 -0.5 %
Divided by: Fwd. P/BV 12.6 x
Less: Expense ratio 76 bp
Equals: ALTAR Score -0.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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