ETF star bets against Cathie Wood’s ARK funds
Tuttle Capital Management CEO: It seemed like a no-brainer given the macro environment, launch the product'
The Fed is still not your friend if you are this type of investor: Cameron Dawson
Cameron Dawson and Matthew Tuttle provide guidance on the stock market on 'Making Money.'
Tuttle Capital Management (TCM) CEO and CIO Matthew Tuttle says he is betting against Cathie Wood's ARK Innovation ETF.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SARK | INVESTMENT MANAGERS SERIES TR II AXS SHORT INNOVATION DAILY | 31.21 | +0.85 | +2.80% |
| ARKK | ARK ETF TRUST INNOVATION ETF | 42.91 | -1.24 | -2.81% |
Tuttle is taking a different approach with his short-term ETF, receiving the attention of investors during this year's market turbulence. The anti-ARKK ETF, under the ticker SARK, is up 82% since November.
TCM says the exchange traded fund "attempts to achieve the inverse (-1x) of the return of the ARK Innovation ETF for a single day, not for any other period."
Matthew Tuttle tells FOX Business that investors' focus should be on "energy stocks, commodity-based stocks, and a lot of cash."
After beating much of the U.S. market in 2020, Wood's flagship fund has struggled to maintain the performance. The ETF is approaching a two-year low, facing pressure from high inflation and the Federal Reserve's tightening monetary policy.
Star stock picker Cathie Wood's ARK Invest files with the U.S. Securities and Exchange Commission to create a bitcoin exchange traded fund (ETF). (Will Crooks)
"We knew that it had gone up so far, that there was a potential for a pretty big drop. Certainly there was also a lot of demand to short it," Tuttle explained to FOX Business. "It seemed like a no-brainer given the macro environment, launch the product."
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SARK is the first exchange traded fund to inverse another ETF. Tuttle Management Capital says the goal is to provide investors with exposures that have never been done before.
As investors try to weather this storm of market volatility, Tuttle tells FOX Business that the focus should be on "energy stocks, commodity-based stocks, and a lot of cash."