Down 54%, Is Cathie Wood's Flagship Fund a Buy?

ARK Invest CEO Cathie Wood's flagship exchange-traded fund (ETF), the ARK Innovation ETF (NYSEMKT: ARKK), hit an interesting point recently. After more than doubling in 2020, the ARK Innovation ETF is now down 54% from its all-time high, while the Nasdaq is off 15% from its all-time high. What's more, the ARK Innovation ETF, as of this writing, is underperforming the Nasdaq Composite by roughly 24 percentage points over the most recent three-year period.