Ark Invest is today (March 30) launching an actively managed exchanged traded fund (ETF) that is focused on space exploration.
The “ARKX” fund, which is the firm’s eighth ETF, arrives as an increasing number of private space companies prepare to go public. In the past six months, seven space companies have announced plans to go public via a special purpose acquisition company (SPAC) deals.
The ARKX ETF’s top 10 holdings by weight are:
Trimble - 8.3%
Ark’s 3D Printing ETF - 6.1%
Kratos - 5.6%
L3Harris - 5%
JD.com - 4.8%
Komatsu - 4.6%
Lockheed Martin - 4.5%
Iridium - 4.3%
Thales - 4%
Boeing - 3.6%
Ark’s new fund also includes Virgin Galactic and Maxar among its 39 holdings. Ark Invest Chief Executive Cathie Wood has made a name for herself by investing in disruptive innovation stocks.
Ark Invest’s flagship fund, Ark Innovation, has seen more than $16 billion of inflows in the past year, according to data from FactSet. Ark Innovation’s top holdings include technology stocks such as Tesla, Teladoc and Roku.
Cathie Wood has developed a large investor following after the Ark Innovation ETF returned nearly 150% in gains last year. However, the Ark Innovation fund is down nearly 9% this year amid the rotation out of technology and into value stocks.
