The ARK Innovation ETF (NYSE:ARKK), managed by renowned investor Cathie Wood, has posted remarkable gains in November, making it the fund's best-performing month since its launch in 2014.
The ARK Innovation ETF surged by nearly 35% in November, surpassing its performance in January 2023 when it achieved a 27% gain. The second-largest fund managed by Wood, the ARK Fintech Innovation ETF (NYSE:ARKF) also showed a similar return as its bigger brother.
Year-to-date, Wood's flagship fund has risen by 55%, outperforming the broader tech sector's performance as tracked by the Invesco QQQ Trust (NASDAQ:QQQ).
Chart: ARK ETF Monthly Returns And Year-To-Date Performance Vs. QQQ
Despite these impressive gains, Wood's largest fund remains 70% below its all-time highs reached in February 2021. In contrast, the Nasdaq 100 Index is only 4% below its record peak in 2022.
The outstanding performance of tech stocks in November was driven by the Federal Reserve's decision to hold interest rates steady for the second consecutive meeting at the beginning of the month. Market participants widely interpreted this move as signaling the end of the tightening campaign.
As U.S. inflation dynamics continued to slow down — the latest data revealed a sharper-than-expected decline in the Consumer Price Index (CPI) for October — investors began increasing their bets on a wave of Fed rate cuts in 2024.
CME Group's FedWatch tool, which assesses the market-implied probabilities of future fed funds rate movements, indicates an 80% chance of a rate cut as early as May 2024. Speculators are even assigning a 59% probability of five rate cuts by December 2024.
Innovation Fund's November Performance
The ARK Innovation Fund experienced a substantial boost in its monthly performance, driven by several key stocks. The top contributor was Coinbase Global Inc (NASDAQ:COIN), which surged by nearly 80% and alone contributed almost 7 percentage points of returns to the ARK Fund.
This surge coincided with a cryptocurrency rally, with Bitcoin (CRYPTO: BTC) surging above $38,000.
Here are the top 10 contributors to the fund's impressive November performance:
Security Name (Exchange: Ticker) | Sector | Price | Weight in ARK | 1-month stock return | Return
Contribution |
|---|
Coinbase Global, Inc. | Financials | 126.74 | 11.33% | 79.06% | +6.86 percentage points |
Roku, Inc. (NASDAQ:ROKU) | Communication Services | 106.91 | 9.11% | 89.72% | +5.91pp |
Block, Inc. (NASDAQ:SQ) | Financials | 64.43 | 5.99% | 61.38% | +3.11pp |
CRISPR Therapeutics AG (NASDAQ:CRSP) | Health Care | 69.86 | 4.71% | 81.29% | +2.88pp |
UiPath Inc. (NYSE:PATH) | Information Technology | 19.70 | 6.49% | 31.09% | +2.15pp |
Shopify Inc. (NYSE:SHOP) | Information Technology | 73.63 | 3.51% | 58.62% | +1.78pp |
Tesla, Inc. (NASDAQ:TSLA) | Consumer Discretionary | 246.11 | 8.02% | 58.62% | +1.73pp |
DraftKings Inc. (NASDAQ:DKNG) | Consumer Discretionary | 38.13 | 3.68% | 43.51% | +1.52pp |
Twilio Inc. (NYSE:TWLO) | Information Technology | 66.09 | 3.89% | 31.72% | +1.28pp |
Zoom Video Communications, Inc. (NASDAQ:ZM) | Information Technology | 68.25 | 6.88% | 15.18% | +1.24pp |
Beam Therapeutics Inc. (NASDAQ:BEAM) | Health Care | 28.96 | 2.32% | 56.55% | +1.14pp |
由著名投資者凱茜·伍德管理的方舟創新ETF（紐約證券交易所代碼：ARKK）在11月取得了顯著的漲幅，這是該基金自2014年推出以來表現最好的月份。
方舟創新ETF在11月份飆升了近35％，超過了2023年1月實現27％的漲幅。伍德管理的第二大基金方舟金融科技創新ETF（紐約證券交易所代碼：ARKF）也表現出與其大兄弟相似的回報。
今年迄今爲止，伍德的旗艦基金已上漲55％，超過了景順QQQ Trust（納斯達克股票代碼：QQQ）追蹤的整個科技行業的表現。
圖表：ARK ETF 月度回報率和年初至今業績 Vs.QQQ
儘管取得了這些可觀的收益，但伍德最大的基金仍比2021年2月創下的歷史新高低70％。相比之下，納斯達克100指數僅比2022年的歷史最高水平低4％。
科技股在11月份的出色表現是由美聯儲決定在本月初連續第二次會議上保持利率穩定的推動的。市場參與者普遍將此舉解釋爲緊縮運動的結束。
隨着美國通貨膨脹動態持續放緩——最新數據顯示10月份消費者物價指數（CPI）的跌幅大於預期——投資者開始加大對2024年美聯儲降息浪潮的押注。
芝加哥商品交易所集團的FedWatch工具評估了未來聯邦基金利率變動的市場隱含概率，該工具顯示，最早在2024年5月降息的可能性爲80％。投機者甚至認爲，到2024年12月，五次降息的可能性爲59％。
創新基金11月份業績
在幾隻關鍵股票的推動下，方舟創新基金的月度業績大幅提振。最大的貢獻者是Coinbase Global Inc（納斯達克股票代碼：COIN），該公司飆升了近80％，僅此一項就爲方舟基金貢獻了近7個百分點的回報。
這種飆升恰逢加密貨幣的反彈，比特幣（加密貨幣：BTC）飆升至38,000美元以上。
以下是該基金11月份令人印象深刻的業績的十大出資者：
證券名稱（交易所：Ticker） | 行業 | 價格 | 方舟中的重量 | 1 個月股票回報 | 返回
貢獻 |
|---|
Coinbase 環球有限公司 | 金融 | 126.74 | 11.33% | 79.06% | +6.86 個百分點 |
Roku, Inc.（納斯達克股票代碼：ROKU） | 通信服務 | 106.91 | 9.11% | 89.72% | +5.91pp |
Block, Inc.（納斯達克股票代碼：SQ） | 金融 | 64.43 | 5.99% | 61.38% | +3.11pp |
CRISPR Therapeutics AG（納斯達克：CRSP） | 醫療保健 | 69.86 | 4.71% | 81.29% | +2.88pp |
UiPath Inc.（紐約證券交易所代碼：PATH） | 信息技術 | 19.70 | 6.49% | 31.09% | +2.15pp |
Shopify Inc.（紐約證券交易所代碼：SHOP） | 信息技術 | 73.63 | 3.51% | 58.62% | +1.78pp |
特斯拉公司（納斯達克股票代碼：TSLA） | 消費者自由裁量權 | 246.11 | 8.02% | 58.62% | +1.73pp |
DraftKings Inc.（納斯達克股票代碼：DKNG） | 消費者自由裁量權 | 38.13 | 3.68% | 43.51% | +1.52pp |
Twilio Inc.（紐約證券交易所代碼：TWLO） | 信息技術 | 66.09 | 3.89% | 31.72% | +1.28pp |
Zoom 視頻通信有限公司（納斯達克股票代碼：ZM） | 信息技術 | 68.25 | 6.88% | 15.18% | +1.24pp |
比姆治療公司（納斯達克股票代碼：BEAM） | 醫療保健 | 28.96 | 2.32% | 56.55% | +1.14pp |
