Cathie Wood’s ARK Innovation ETF Stages AI-Driven Recovery Amid Market Skepticism
ARK Innovation ETF has tripled over three years following a devastating 2022 crash, with analysts noting its heavy reliance on AI stocks. Fund manager Cathie Wood reportedly remains confident in her strategy despite previous setbacks and current valuation concerns.
Remarkable Recovery After Historic Decline
According to recent financial analysis, Cathie Wood’s ARK Innovation ETF (ARKK) has staged an impressive comeback, reportedly gaining 87.1% over the past year and tripling in value over the last three years. Sources indicate this performance places it among the top-performing funds tracked by the American Association of Individual Investors, trailing only single-stock funds as of September’s end. Despite these gains, reports suggest the fund remains approximately 42% below its February 2021 peak, with assets under management declining from $17 billion at the end of 2020 to $8.3 billion currently.