Cathie Wood’s ARK Innovation Fund, which more than doubled during the pandemic rally, is on pace to finish near the very bottom of all U.S. mutual funds in 2022 after surging inflation and higher interest rates dried up appetite for high-growth shares.
The ARK Innovation Fund has lost around 67% year to date, more than tripling the decline of the S&P 500 index
With the S&P 500 on pace for its biggest annual decline since the Great Financial Crisis, few funds are likely. Stock portfolio managers trailed their benchmarks by 0.6% this year, leaving most behind the 19% drop in the S&P 500 for the year to date or the nearly 22% decline in the Russell 2000.
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