SARK AXS Short Innovation Daily ETF

*Unless otherwise stated, data provided by FactSet.

SARK Fund Description

SARK is an actively-managed fund that seeks to achieve -1x the return, for a single day, of the ARK Innovation ETF (ARKK) through swap agreements with major global financial institutions.

SARK Factset Analytics Insight

SARK provides daily 1x inverse exposure to ARKK — an exchange-traded fund composed of companies globally involved with, or that benefit from, disruptive innovation. The fund is a daily bet against the performance of ARKK, of which typically consists of 30-55 stocks selected based on high conviction in this space. As such, SARK may counterbalance an existing portfolio of high-growth stocks during a market decline in the space, but risks losing value if and when the underlying fund’s price rises. Its strategy involves entering into swap agreements with global financial institutions exchanging returns based on the performance of ARKK shares. To achieve maximum results, the fund may also invest in fixed income securities with investment-grade rating including Treasurys, short-term bond ETFs, corporate bonds, and money market funds as collateral required by the fund’s counterparties. As a leveraged inverse product with -1x factor that resets daily, SARK is not a buy-and-hold investment, and should not be expected to provide index leverage return greater than a one day period.

PERFORMANCE [as of 09/30/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
SARK 8.28% -3.94% 66.59% -- -- -- --
SARK (NAV) 8.17% -4.12% 66.53% -- -- -- --
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

SARK Summary Data

11/09/21
Open-Ended Fund
0.75%
$393.43M
0.03%

SARK Portfolio Data

--
N/A

SARK Index Data

No Underlying Index
Proprietary
Proprietary
N/A

SARK Fund Structure

No
--
-- / --
N/A
N/A
Low
-1
Daily

SARK Tax Exposures

20.00% / 39.60%
--
No

SARK Factset Analytics Block Liquidity

As of 10/03/22
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of SARK. SARK is rated a 5 out of 5.

SARK Tradability

3,788,769
$203.01M
3,842,475
$209.61M
0.03%
$0.02
0.02%
4.11% / -0.67%
None
--
25,000
153.70
--
--
22,438
$61.82
5

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.