By Julianna
Investors appear to be losing patience with Ark Investment Management's genomics fund.
$ARK Genomic Revolution ETF (ARKG.US)$ is an actively managed ETF that focus on health care, information technology, materials, energy, and consumer discretionary.
Companies within ARKG are focused on and are expected to substantially benefit from extending and enhancing the quality of human and other life by incorporating technological and scientific developments and advancements in genomics into their business.
- according to ARKG fund description.
However, ARKG is down 30% this year as investors shun health-care stocks in favor for more cyclical names that perform well during an economic recovery. Even so, this ETF is faring far worse than the broader biotech sector, with the $Dow Jones U.S. Biotechnology Index (.DJUSBT.US)$up 11.35% this year.
ARKG is currently trading at $65.16 a share, 43% lower from its peak in this February. The genomics fund has also seen the largest outflows among Ark's ETFs this year.
It's interesting that typically loyal Ark investors have been bailing on the ETF.
The fund's assets have been chopped in half since February. While I don't believe the ETF is experiencing some of sort of 'doom loop,' clearly the outflows are putting downward price pressure on the underlying holdings and testing the will of remaining fund owners.
- said Nate Geraci, president of The ETF Store, an advisory firm.
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ARKG's top two holdings, $Teladoc Health (TDOC.US)$and $Exact Sciences (EXAS.US)$, heavily impact its performance, with drops of 47% and 33.5% this year, respectively.
The recent outflows may be due to investors looking for shorter-term opportunities into the year-end and freeing up cash.
- said Sylvia Jablonski, chief investment officer at Defiance ETFs.
Ark Chief Executive Officer Cathie Wood is well-known for prioritizing longer term investments over short-term gains.
This is a 5-10 year hold. AI in health care is going to change the way that we can predict, treat and manage the most difficult diseases like cancer, and the Ark fund gives investors access to the companies who are on the cutting edge of that research.
- Jablonski added.
Have you ever invested in the Biotechnology sector? Do you agree with Jablonski's opinion?
Source: Bloomberg

Cannabis ETFs were blazing after Representative Nancy Mace (R-SC) tweeted that she plans to unveil a new bill that would legalize marijuana at the federal level. The bill would remove the plant from the list of federally controlled substances.
While cannabis-related ETFs have been on a decline for much of the year, this news was enough to lift them by double digits last week. The U.S.-focused $Advisorshares Trust Pure Us Cannabis Etf (MSOS.US)$ gained 14.0% in past week. The $Advisorshares Pure Cannabis Etf (YOLO.US)$ and the $Etfmg Alternative Harvest Etf (MJ.US)$, which take a global approach, were up 12.8% and 10.9%, respectively.
Cannabis-related ETFs shot higher after Joe Biden's nomination. Both he and Vice President Harris had stated they were in favor of policy reform. President Biden, however, has only backed medical legalization and decriminalization.
The lack of movement on the issue after Biden took office brought these ETFs off their highs. But Mace’s bill, which would see marijuana regulated similarly to alcohol, could appeal to those on the right side of the aisle because it invokes states'rights.
The proposed bill would also not call for the degree of regulation or taxation as prior legalization bills have, such as of that proposed by Senator Chuck Schumer.
Several Options Available
Here is a list of Marijuana ETF ranks by AUM, with MJ and MSOS being the largest, at over $1 billion in AUM each.
Currently, the cheapest cannabis ETF is the $Cambria Cannabis Etf (TOKE.US)$, with a 0.42% expense ratio. This is significantly lower than the average expense ratio of 0.71%. The low cost is especially notable when you consider that TOKE is active.
Though it is 0.33% cheaper than the passive MJ, TOKE has underperformed by 4.1% year-to-date.
Domestic or Global
Legalization is not just a domestic issue. In fact, the U.S. has some of the most marijuana-friendly laws around the world. The substance remains illegal in much of the world.
Though this suggests there is substantial growth ahead for global cannabis-related companies, current legalization talks in the U.S. are likely to benefit domestically focused ETFs such as MSOS the most.
Source: ETF.com, ETF Managers Group

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