Cathie Wood’s ETF Outperformed by Only One: Unraveling the Cryptocurrency Coin Impact (COIN)

• Cathie Wood’s ARK Innovation (ARKK) ETF is having a challenging year, underperforming against the S&P 500.
• Despite a 13.2% drop this year, ARK Innovation is not the worst-performing ETF, with WilderHill Clean Energy ETF (PBW) down 26.3%.
• Factors contributing to ARK Innovation’s decline include falling Tesla shares and losses in 25 out of the 35 stocks in the portfolio.

ARK Innovation ETF faces a tough year, underperforming against the S&P 500, with factors such as falling Tesla shares contributing to its decline.

ARK Innovation’s Underperformance

ARK Innovation ETF, managed by Cathie Wood, is down 13.2% this year, a stark contrast to the SPDR S&P 500 ETF Trust (SPY) which is up nearly 8%. However, ARK Innovation is not the worst-performing ETF, with WilderHill Clean Energy ETF (PBW) experiencing a 26.3% drop. The losses in both ETFs come amidst rising inflation concerns as we approach summer.

Contributing Factors to ARK’s Decline