This Cathie Wood ETF Nearly Doubled Last Year. Can It Mint More Millionaires in 2024?
Cathie Wood had a great 2023, bouncing back from the setbacks that she and her family of actively managed ETFs suffered in 2022's bear market. The investment manager's largest fund, the $8 billion Ark Innovation ETF (NYSEMKT: ARKK), climbed almost 70% last year.
Elsewhere within the Ark Invest family of funds, the Ark Fintech Innovation ETF (NYSEMKT: ARKF) fared even better, gaining 93% in 2023. Those gains came largely due to the resurgence of some areas that had lagged particularly badly in 2022. Below, you'll see exactly what made this Cathie Wood ETF do so well, and whether the exchange-traded fund can deliver more gains to turn its shareholders into millionaires.
As you can see below, Ark Fintech Innovation and Ark Innovation largely made the same moves throughout the year. However, more of Ark Fintech Innovation's stocks were among the biggest gainers for 2023, which helped give its performance an extra boost.
Source Fool.com
