ETFs

Activity in the fund is surging, with trading volume jumping to more than three times the one-year average.

Funds at the top have notched triple digit returns in the last year.

Lenders have issued about 50 structured products tied to Ark’s ETFs in the past three months, according to SEC filings.

The 20 categories with the biggest gains are home to nearly $10 trillion in combined assets.

Growth, quality and low-volatility stock funds had one of their worst months of flows on record, while those tracking value had one of their best.

Funds focused on ESG factors added a record $6.2 billion in January amid the increasing odds that Biden’s energy policies will be enacted.

The skewed allocations “may significantly change fund performance and use case suitability until rebalance dates,” analysts say.

ETFs targeting the hottest investment themes have lost as much as 5% per year on a risk-adjusted basis between 2000 and 2019, research shows.

The fund has returned about 42% since its April 7 launch compared to an 8.9% gain for its benchmark over the same period.

The top 20 carried an average expense ratio of more than three times the broader industry.