Cathie Wood's Ark Continues to Innovate and Attract Investment.
Cathie Wood's ARK Fintech Innovation ETF has gained 20% on financial stocks this year by investing in technology and crypto-related stocks, which have become more attractive given the recent pullback in yields. The ETF's top-performing stock is Coinbase Global, a cryptocurrency marketplace, which accounts for nearly 12% of the portfolio. The ETF does not hold any traditional banking stocks, which have received the bulk of the negative sentiment. Meanwhile, more traditional financial ETFs like SPDR S&P Regional Banking ETF and iShares U.S. Regional Banks ETF are down 24% and 26.7% respectively this year.