If you had invested $1,000 in the Short Cathie Wood ETF when it went public, here’s what you would have now – AXS Short Innovation Daily ETF (NASDAQ:SARK)

At the end of 2021, many should have thought of a declining performance Matthew Tuttle was crazy The ETF investment manager and CEO of Tuttle Capital Management launched an ETF that bet against stock picks Cathie Wood and Invest Ark. Here’s a look at how this ETF has performed since its inception.

What happened: Tuttle Capital Management started the Tuttle Capital short innovation ETF in November 2021 as a reverse option for those looking to bet against the flagship fund Ark Invest.

Now known as the AXS Short Innovation Daily ETF SARKthe fund is an inverse ETF to Ark Innovation ETF ARKK. The ETF seeks to achieve the inversion of the Ark Innovation ETF’s return for a single day.

“This distinctive exposure allows investors to potentially benefit from a decline in a portfolio of companies operating in disruptive industries such as electric vehicles, next-gen internet, genomics and fintech,” the press release reads.

Tuttle previously told Benzinga that there was a lot of demand to short the Ark Invest ETF.

“Right now, ARKK has over 30 million shares empty, so there’s massive demand,” Tuttle said.

Tuttle also pointed out the high strain Tesla Inc TSLA as one of the reasons investors want to bet against Ark and Wood.

“Whether you think the current bull thesis is too far-fetched for transformational industries, or you want to provide protection for an existing portfolio of high-growth stocks, SARK is a potentially attractive opportunity worth exploring.” “

When the Tuttle Capital Short Innovation ETF launched, the Ark Innovation Fund was one of the top-performing ETFs, with three- and five-year returns of 174.8% and 538.7%, respectively.

Since then, shares in the Ark Innovation ETF have fallen significantly, hitting new five-year lows. Here’s a look at SARK’s performance.

Related Link: Are Growth Investors Finally Breaking Ties With Cathie Wood? Ark Innovation Flows are disappearing

Invest $1,000 in SARK: The Tuttle Capital Short Innovation ETF opened for trading on November 9, 2021 and hit a high of $30.78 on its first day of trading.

A $1,000 investment in the ETF could have bought 32.49 shares. The $1,000 investment would be worth $2,158.96 today, based on a price of $66.45 for the ETF at the time of writing.

That’s a 115.9% return in just over a year.

The Ark Innovation ETF, on the other hand, hasn’t fared as well. A $1,000 investment in the Ark Innovation ETF could have bought 8.05 shares at the intraday high on November 9, 2021. That $1,000 investment would be worth $258.97 today, down 74.1% from last year.

Continue reading: Want to bet against Jim Cramer? New inverse ETF from the man who took on Cathie Wood

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