(Bloomberg) Cathie Wood’s Ark Investment Management’s Transparency ETF could debut this year upon approval by the regulator.
The new ETF will closely follow an index that excludes alcohol, gambling, banking, oil, and gas, in what is seen as sustainability-based investing.
Ark’s ETF is a change of tune by Woods, who has majorly focused on “disruptive innovation” investments.
If the ETF gets the SEC’s approval, it will be the second by Ark this year. Ark launched a space-related investment ARKX ETF in March and has since risen 4%, with more than $600 million in assets.
The transparency fund joins a list of other eight Ark ETFs, with a combined value of $45 billion.
Investors are now keen to see how the transparency ETF syncs with others that Ark owns, given that its strategy is said to be at odds with the others owned by the fund.
Wood’s flagship ARK innovation ETF is up to $22.5 billion, but down 2% year to date amid a 20% surge in S&P 500.
