Anti-ARKK ETF Shines as Spiking Yields Drag Down Expensive Tech Stocks
- SARK has rallied more than 10% since launch this month
- Pop in performance could help attract assets: Balchunas
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The ETF designed to bet against Cathie Wood is starting to deliver as a jump in Treasury yields -- the bogeyman stalking growth shares -- slams her flagship fund.
The Tuttle Capital Short Innovation ETF (ticker SARK) has gained roughly 14% since launching two weeks ago. SARK -- originally named the Short ARKK ETF -- seeks to track the inverse performance of Wood’s ARK Innovation ETF (ARKK) through swap contracts.