- Cathie Wood’s Ark Invest has destroyed $14 billion in wealth over the past decade.
- A Morningstar analysis found that Ark Invest topped the list of wealth destroyers among other investment companies.
- “These funds managed to lose value for shareholders even during a generally bullish market,” Morningstar said.
Cathie Wood’s Ark Invest has destroyed an estimated $14.3 billion in wealth over the past decade, according to a recent Morningstar analysis.
Ark Invest was all the rage in 2020 and 2021, when its concentrated bets on highly speculative technology companies paid off in a big way thanks to low interest rates and a boom in risk appetite among retail investors.
Ark’s flagship innovation ETF, ARKK, soared nearly 150% in 2020, and that massive outperformance helped drive a surge of inflows into its funds right near its peak.