Cathie Wood, head of Ark Investment Management, has achieved rock-star status in the money-management world, even drawing a nickname from her followers – Mama Cathie.
Presumably, she’s watching protectively over her investor-children. But her returns don’t indicate that she’s been the dearest mommy.
Wood’s flagship Ark Innovation ETF, (ARKK) – Get Free Report, with $7.5 billion in assets, has generated a return of just 5% for the last 12 months. And the annualized return is negative 32% for the past three years and a mere positive 2% for five years.
That’s not too impressive, as the S&P 500 posted positive returns of 21% for one year, 11% for three years, and 15% for five years. Wood’s goal is at least 15% annual returns over five years.
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