After a series of bad investment decisions and three years of painful decline, ARK Investment (ARK ETF), founded by “Sister Wood” Cathie Wood (Cathie Wood), is being relentlessly abandoned by investors.

According to the data, the net outflow of Ark Investment's six actively managed exchange-traded funds (hereinafter collectively referred to as ARK ETFs) was US$2.2 billion this year, which is about three times the net outflow of US$760 million for the full year of 2023.

ARK ETFs currently have total assets under management of US$11.1 billion, down 81% from the peak of US$59 billion in 2021.

The sharp decline in the scale of ARK ETFs asset management comes at a time when Wood spent three painful years betting on investment strategies for disruptive innovative companies. Its flagship product, ARK Innovation ETF (ARKK), fell 72% from its peak in February 2021.

This is because ARKK is too focused on a few stocks, and Tesla's largest holdings have fallen by more than 40% this year. With the general market recording positive returns this year, the fund is still down 16% so far this year.

Despite this, Wood recently argued for Tesla that it is expected that the company's stock price may reach 2,000 US dollars in the next five years. Tesla closed at 144.61 US dollars on Tuesday, but after announcing the first quarter earnings report, it once surged more than 12% after the market.

In the face of Tesla's sharp pullback this year, “Cathie Wood” is still bucking the trend and increasing positions. According to public information, after increasing positions for three consecutive days last week and buying Tesla shares worth about 28 million US dollars, its fund bought 122,752 shares this Monday, worth about 17.44 million US dollars.

Other major stocks held by ARKK include Roku (Roku), Unity Software (U), and Zoom Video (ZM). The stock price of the first two companies fell by more than 30% this year, while the stock price of the last company fell 16% this year.

Morningstar stressed that ARK ETFs have destroyed $14 billion in wealth over the past decade, more than any other asset management company, as investors flocked to the market when the fund was nearing its peak. Morning Star analyst Amy Arnott (Amy Arnott) said, “Even in a generally bullish market environment, these funds have failed to bring value to shareholders.”

Another pain point with ARK ETFs is that these funds missed out on the hottest artificial intelligence deals in the market, and Wood sold most of the Nvidia shares in its funds before Nvidia shares began to soar at the end of 2022.