Cathie Wood’s Asset Plunge Is Biggest Among ETF Issuers in 2022

$ARK Innovation ETF(ARKK.US)$ Wood’s nine-fund lineup has seen assets collapse by 48%
Notably, the drawdown in assets is a result of weak performance rather than investors yanking out cash. While all nine Ark ETFs have posted double-digit losses in 2022, dragged down by declines in richly valued technology shares, the lineup is still clinging to net inflows of $167 million. While such a dismal showing would normally prompt an investor exodus, Wood has cultivated a loyal following on social media and a reputation for her disruption-focused bets, Bloomberg Intelligence’s Athanasios Psarofagis said.

Wood emerged as a star manager during the pandemic, when trillions of dollars worth of fiscal and monetary stimulus drove valuations on speculative tech firms and growth shares to eye-watering heights. The firm’s flagship $ARK Innovation ETF(ARKK.US)$ soared almost 150% in 2020.
Now, with the Federal Reserve tightening policy, ARKK has plunged almost 55% this year, the second-worst showing among the firm’s funds. ARKK currently holds $8.5 billion, down from more than $16 billion at the start of 2022 and from a high-water mark of around $28 billion in February 2021.
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