Yahoo Finance
Cathie Wood, head of Ark Investment Management, likes to lock in gains when her tech darlings rally.
That's exactly what she's doing with Snowflake, trimming her position after the cloud software stock surged nearly 10% over the past five trading days ahead of earnings.
In 2025, the flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500's return of 17.88% in the same period.
But so far this year, Wood's flagshipArk Innovation ETF(ARKK) is down8.51%as of July 31, while the S&P 500 surged9.41%,Yahoo Finance datashows.
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020.
But her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.
Those swings have weighed on Wood's long-term gains.
As of July 31, her Ark Innovation ETF has delivered a five-year annualized return of-9.75%, while theS&P 500has an annualized return of11.25%over the same period, according to data fromMorningstar.
Wood usually focuses on high-tech companies across artificial intelligence, blockchain, biomedical technology, and robotics.
She believes these businesses have strong growth potential, though their volatility often causes fluctuations in the Ark's funds.
Over the decade ended 2025, the Ark Innovation ETF wiped out nearly $5 billion in investor wealth, according to an analysis by Morningstar's analystAmy Arnott.
That made it the fourth-biggest wealth destroyer among mutual funds and ETFs in the ranking.
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