Cathie Wood, one of Wall Street's fastest rising stars, has gone from best to worst in less than a year.
Wood, CEO and chief investment officer at ARK Investments, had three of the six top-performing major exchange traded funds last year. ETFs, diversified investment products that can be easily bought and sold, have been one of Wall Street's most popular products over the past decade. This year is the mirror opposite. Wood is again on a top 10 list, but this time for worst-performing funds. Of 615 U.S. stock market ETFs tracked by research firm FactSet, ARK's three biggest funds rank in the bottom 2%. The ARK Innovation ETF, which soared 152% in 2020, has lost nearly a third of its value in the past three months.