Cathie Wood’s Fintech ETF Bleeds Assets After 93% Return Last Year

Cathie Wood’s retail army has gone AWOL all year – even in her best-performing exchange-traded fund.

Despite a 27% rally in its biggest holding, Coinbase Global Inc., spurred by the great crypto revival, the ARK Fintech Innovation ETF (ticker ARKF) is flat this year compared to the S&P 500’s 5% gain and the tech-heavy Nasdaq’s 3% rise. In turn, day traders have snubbed the actively-managed fund en masse, with the ETF failing to net any inflows on every single day in 2024, with assets under management plunging below $1 billion after notching nearly $5 billion in 2021.