![]() The ARK ETFs also have specific risks, which are described in the ARK ETFs' prospectuses. The ARK ETFs’ portfolios are more volatile than broad market averages. There can be no assurance that the ARK ETFs will achieve their investment objectives. An investment in an ARK ETF is subject to risks and you can lose money on your investment in an ARK ETF. The prospectus should be read carefully before investing. This and other information are contained in the ARK ETFs' prospectuses, which may be obtained by clicking here. Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ARK ETF before investing. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. ETF shares may only be redeemed directly with the ETF at NAV by Authorized Participants, in very large creation units. Shares of ARKK are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. The ETF’s portfolio is more volatile than broad market averages. There can be no assurance that the ETF will achieve its investment objective. An investment in an ETF is subject to risks and you can lose money on your investment in an ETF. Additional risks of investing in ARKK include equity, market, management and non-diversification risks, as well as fluctuations in market value and NAV. Detailed information regarding the specific risks of ARKK ETF can be found in the prospectus. ![]() Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Companies is this sector may be adversely affected by potential obsolescence of products/services, pricing competition, research and development costs, substantial capital requirements and government regulation. The health care sector may be adversely affected by government regulations and government health care programs. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. The value of the equity securities the Fund holds may fall due to general market and economic conditions. The principal risks of investing in the ARKK include: Equity Securities Risk. The data presented in the chart and table above represent past performance and cannot be used to predict future results. The horizontal axis shows the number of trading days covered by the chart, and each bar in the chart demonstrates how many days the Fund traded within the given premium/discount range. The vertical axis of the chart shows the premium or discount of the Mid-Point price as a percentage of the NAV. The daily market price is calculated using the mid-point between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 pm Eastern time). ![]() The Premium/Discount chart shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The market price of the ETF’s shares may differ significantly from their NAV during periods of market volatility. Total Return reflects the reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. Market performance does not represent the returns you would receive if you traded shares at other times. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Net asset value (“NAV”) returns are based on the dollar value of a single share of the ETF, calculated using the value of the underlying assets of the ETF minus its liabilities, divided by the number of shares outstanding. Returns for less than one year are not annualized. The Fund’s most recent month-end performance can be found in the fund material section. Extraordinary performance is attributable in part due to unusually favorable market conditions and may not be repeated or consistently achieved in the future. The investment return and principal will fluctuate so that an investor’s shares when redeemed may be worth more or less than the original cost. The performance data quoted represents past performance and current returns may be lower or higher. Past performance does not guarantee future results.
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