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Cathie Wood’s New ETF Shuts Out Banking, Fossil Fuels and Vice

  • Ark Investment Management files to launch Transparency ETF
  • “This is kind of Ark’s version of ESG”: BI analyst Balchunas
Bloomberg business news
Cathie Wood’s New Transparency ETF Shuts Out Banking, Vice
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Cathie Wood is getting ready to debut a new exchange-traded fund focused on transparency.

Ark Investment Management’s Transparency ETF will closely follow an index that excludes industries including alcohol, banking, gambling and oil and gas, Wood’s company said in a filing on Tuesday. The top holdings in the 100-company gauge are largely tech and consumer firms such as Inc., Microsoft Corp., Apple Inc., Nike Inc. and Chipotle Mexican Grill Inc. An old Ark favorite, Elon Musk’s Tesla Inc., also makes the cut.