Ark Invest and its leading exchange-traded fund, the Ark Innovation ETF (NYSEMKT: ARKK), have gained significant attention in recent years. The investment management firm led by Cathy Wood and its various industry-specific funds likely influenced investors to more closely examine companies that are focused on innovation.

However, for all the publicity Wood has attracted, the Ark Innovation ETF has typically underperformed the Invesco QQQ Trust (NASDAQ: QQQ), a passively managed fund that tracks the tech-heavy Nasdaq-100 index. Due to that fact alone, the Ark Innovation ETF will have much to prove before investors should choose it over the Invesco fund.

At least 65% of the Ark Innovation ETF's assets are held in the stocks of companies with businesses built on what it terms "disruptive innovation." In particular, that description encompasses domestic and foreign companies making advancements in four areas:

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Source Fool.com