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Empower Your Trading

An Efficient Way to Short a Popular ETF

Attempts to achieve the inverse of the return of the ARK Innovation ETF (NYSE Arca: ARKK) for a single day (not for any other period).

Express Your View with Inverse Exposure

A tool for short-term trading to hedge or capitalize on overvaluation or changing market sentiment for a concentrated portfolio of high conviction stocks with uncertain prospects.

Fund Details
ExchangeNASDAQ
TickerSARK
CUSIP46144X628
Inception Date11/05/2021
Distribution FrequencyAnnual
Management Fee0.75%
Gross Expense Ratio1.06%
Net Expense Ratio*0.75%
Options AvailableYes
Management StyleActive
* The Advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses will not exceed 0.75%. Net expense ratio reflects contractual fee waivers effective for a two-year period following the date of the Reorganization on August 8, 2022. 

Bearish on Disruptive Innovation?

This ETF may be for you. SARK, which provides inverse exposure to a storied innovation ETF, won honors for “Thematic ETF of the Year” at the 2023 With Intelligence Mutual Fund & ETF Awards.

Hedge a Concentrated Tech ETF

While tech can generate impressive gains, you may perceive a high conviction portfolio of a relatively small number of stocks as more volatile and risky.

An Easier Method of Shorting

SARK facilitates inverse exposure without the complexity, expense and additional risk of borrowing stocks to sell short.

Daily
Trading

Seek to benefit from the flexibility of daily and intraday trades to capitalize on market shifts and trends.

Not for Everyone

The significant risks of leveraged and/or inverse ETFs include the risks of leverage, derivatives, and/or other complex investment strategies that they employ. These investments are designed for short-term or intraday trading for investors seeking daily leveraged investment results…

 

The Funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The Funds pursue daily leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund’s return as much as, or more than, the return of the underlying security.

The Fund is not suitable for all investors and should be used only by knowledgeable investors, such as traders and active investors employing dynamic strategies, who intend to use them for short-term or intraday trading to seek daily leveraged investment results and who understand the consequences of seeking daily inverse (-1x) investment results, including the impact of compounding on Fund performance. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund is very different from most mutual funds and exchange traded funds. The Fund is not a complete investment program.

Investors should note that the Fund pursues a daily investment objective that is inverse to the performance of the ARK Innovation ETF, a result opposite of most mutual funds and exchange traded funds. The Fund seeks daily inverse investment results that are subject to compounding and market volatility risk. The pursuit of its daily investment objective means that the return of the Fund for a period longer than a full trading day will be the product of a series of daily returns, with daily repositioned exposure, for each trading day during the relevant period. As a consequence, especially in periods of market volatility, the volatility of the ARK Innovation ETF may affect the Fund’s return as much as, or more than, the return of the ARK Innovation ETF. Further, the return for investors that invest for periods less than a full trading day will not be the product of the return of the Fund’s stated daily inverse investment objective and the performance of ARK Innovation ETF for the full trading day. During periods of high volatility, the Fund may not perform as expected and the Fund may have losses when an investor may have expected gains if the Fund is held for a period that is different than one trading day.

ETFs involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus.

Recent Performance for SARK & TARK

5-Day Cumulative Return

Source: UMB Financial Corporation. Represents the cumulative return based on closing NAVs for the last five trading days excluding weekends and market holidays. The performance quoted represents past performance and does not guarantee future results. For standardized performance, see SARK Performance or TARK Performance. The performance quoted represents past performance and does not guarantee future results. Performance for periods greater than 1 year is annualized. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. SARK has a 0.75% management fee and a gross/net expense ratio of 1.06%/0.75%. The Advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses will not exceed 0.75%, effective for a two-year period following the date of the Reorganization on August 8, 2022. TARK has a 0.95% management fee and a gross/net expense ratio of 1.35%/1.15%. The Advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses will not exceed 1.15%, effective until July 31, 2024.

Fund News

5/15/2024

Tradr ETFs Plans to Increase Leverage for SARK, TSLQ and NVDS

6/23/2023

AXS Short Innovation Daily ETF* (SARK) Named Thematic ETF of the Year at the 2023 Mutual Fund & ETF Awards

11/7/2022

AXS Short Innovation Daily ETF* (SARK) Marks 1-Yr Anniversary up over 113% and Delivering for Investors
* As of May 15, 2024, the AXS Short Innovation Daily ETF was renamed the Tradr Short Innovation Daily ETF.  

Fund Literature

Fact Sheet
Prospectus
Summary Prospectus
Annual Report
Semi-Annual Report
SAI
Schedule of Investments 12/31/2023
Schedule of Investments 6/30/2023

Frequently Asked Questions

Why was SARK launched?
Many investors have difficulty or are outright unable to short stocks or ETFs. SARK offers a convenient one-ticker solution for investors of all shapes and sizes to obtain short exposure to a concentrated portfolio of disruptive innovation stocks.
Does SARK track an index?
No. SARK is an actively managed inverse ETF.
Who might want to invest in SARK?
SARK should only be used by knowledgeable traders and active investors who understand the risks of inverse ETFs for short-term or intra-day trading.
Who should not invest in SARK?
The fund is not suitable for investors who don’t actively monitor or manage their portfolios or for investors who do not understand inverse vehicles.
How does SARK work?
SARK uses swaps and derivatives to seek the inverse of the daily performance of the ARK ETF. SARK is rebalanced daily to maintain its inverse exposure and to pursue its daily performance target. There can be no assurance that SARK will achieve its objectives.
How can I buy or sell SARK?
Check with your financial advisor or online broker to see if SARK is available on their platform. If it isn’t, please contact AXS. We work with brokerage platforms to help onboard our ETF.
What type of order should I use when trading SARK?
While a limit order is the most conservative route, it may take longer for your order to get executed. If you have specific questions about a larger order size, please call your financial advisor or feel free to contact us.
Can I trade options on SARK?
Yes. SARK options began trading on December 1, 2021.
Important Risk Information
The Tradr Short Innovation Daily ETF, Investment Managers Series Trust II, and AXS Investments LLC are not affiliated with the ARK ETF Trust, the ARK Innovation ETF, or ARK Investment Management LLC.
 
There is no guarantee that this, or any investment strategy will succeed. The Funds pose risks that are unique and complex. The Fund is riskier than alternatives that do not use leverage and the volatility of the underlying security may affect the Fund's return as much as, or more than, the return of the underlying security.
 
Effects of Compounding and Market Volatility Risk: The Fund has a daily investment objective and the Fund's performance for periods greater than a trading day will be the result of each day's returns compounded over the period, which is very likely to differ from -100% of the ARK Innovation ETF's performance, before fees and expenses. Compounding affects all investments but has a more significant impact on funds that are inverse and that rebalance daily. For an inverse Fund, if adverse daily performance of the ARK Innovation ETF reduces the amount of a shareholder's investment, any further adverse daily performance will lead to a smaller dollar loss because the shareholder's investment had already been reduced by the prior adverse performance. Equally, however, if favorable daily performance of the ARK Innovation ETF increases the amount of a shareholder's investment, the dollar amount lost due to future adverse performance will increase because the shareholder's investment has increased. The effect of compounding becomes more pronounced as the ARK Innovation ETF's volatility and the holding period increase. The impact of compounding will impact each shareholder differently depending on the period of time an investment in the Fund is held and the volatility of the ARK Innovation ETF during shareholder's holding period of an investment in the Fund.
 
Derivatives Risk: Derivatives include instruments and contracts that are based on and valued in relation to one or more underlying securities, financial benchmarks, indices, or other reference obligations or measures of value. Major types of derivatives include futures, options, swaps and forward contracts. Using derivatives exposes the Fund to additional or heightened risks, including leverage risk, liquidity risk, valuation risk, market risk, counterparty risk, and credit risk. Derivatives transactions can be highly illiquid and difficult to unwind or value, they can increase Fund volatility, and changes in the value of a derivative held by the Fund may not correlate with the value of the underlying instrument or the Fund's other investments.
 
Inverse Risk: Short (inverse) positions are designed to profit from a decline in the price of particular securities, investments in securities or indices. The Fund will lose value if and when the Index's price rises – a result that is the opposite from traditional mutual funds and ETFs. Like leveraged investments, inverse positions may be considered aggressive and may result in significant losses. Inverse positions may also be leveraged. Such instruments may experience imperfect negative correlation between the price of the investment and the underlying security or index.
 
Leverage Risk: Certain Fund transactions, such as entering into futures contracts, options and short sales, may give rise to a form of leverage. Leverage can magnify the effects of changes in the value of the Fund's investments and make the Fund more volatile. Leverage creates a risk of loss of value on a larger pool of assets than the Fund would otherwise have had, potentially resulting in the loss of all assets. The Fund may also have to sell assets at inopportune times to satisfy its obligations in connection with such transactions.
 
Equity Securities risk: The value of the equity securities the Fund holds may fall due to general market and economic conditions.
Fixed Income Securities Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer's credit rating or market perceptions about the creditworthiness of an issuer. Generally fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, and longer-term and lower rated securities are more volatile than shorter-term and higher rated securities.
 
ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.
 
There are risks involved with investing including the possible loss of principal. Diversification does not guarantee investment returns or eliminate the risk of loss. Past performance does not guarantee future results.
 
Investors should carefully consider the investment objectives, risks, charges and expenses of the fund before investing. To obtain a prospectus containing this and other important information, please click here to view or download a prospectus online. Read the fund’s prospectus carefully before you invest.
 
Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments or its Tradr ETFs.
 
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