What is the primary investment focus of these ARK ETFs?

Both funds are managed by ARK and target disruptive innovation themes. ARK Innovation ETF seeks broad exposure to transformative technologies across various sectors. ARK Next Generation Internet ETF focuses specifically on internet-related businesses and digital infrastructure. While they share a general theme of innovation, the specific sectors targeted differ slightly, leading to distinct portfolio compositions despite similar management teams and strategies.

How do the expense ratios of these two funds compare?

The ARK Innovation ETF has an expense ratio of 0.75%, while the ARK Next Generation Internet ETF has a slightly higher expense ratio of 0.76%. The difference is minimal, amounting to just 0.01 percentage points. Over time, this negligible difference means the total cost burden on investors is virtually identical. Both fees are significantly higher than passive index funds, reflecting the cost of active management and research-intensive strategies employed by the issuer.

Do these funds pay dividends to their shareholders?

The ARK Innovation ETF currently has a dividend yield of 0.00%, meaning it does not distribute regular cash dividends. In contrast, the ARK Next Generation Internet ETF provides a 1.42% dividend yield, offering some income generation capability to shareholders. Investors seeking regular income may find the latter more suitable, whereas those focused purely on capital appreciation might not prioritise the lack of dividends in the former.

How liquid are these ETFs for institutional traders?

The ARK Innovation ETF holds $8.0 billion in net assets, providing substantial liquidity for large institutional trades and reducing slippage risks. Conversely, the ARK Next Generation Internet ETF has $1.9 billion in net assets, making it notably smaller. While both are tradable, the larger asset base of the Innovation ETF generally ensures smoother execution for significant transactions, whereas smaller funds might experience wider bid-ask spreads during volatile market conditions.

Are the portfolios of these two funds significantly different?

Yes, there are notable differences in their top holdings. While both funds include Tesla, Coinbase, and Robinhood Markets, their weightings vary. The ARK Next Generation Internet ETF includes Amazon and AMD, which are absent from the top ten of the ARK Innovation ETF. Conversely, the Innovation ETF holds Tempest Therapeutics and CRISPR Therapeutics in its top ten, indicating a stronger tilt towards biotechnology and specific genomic innovations compared to its sister fund.

Do these funds track a specific market index?

No, both the ARK Innovation ETF and the ARK Next Generation Internet ETF do not track a specific market index. The data indicates that the index tracked is 'not available' for both funds. This confirms they are actively managed, meaning their holdings are selected based on the manager's research and conviction rather than replicating a benchmark. Investors should expect deviations from standard market indices due to this active management approach.

What are the inception dates and historical performance contexts?

Both funds have comparable long histories. The ARK Innovation ETF was launched on October 31, 2014, while the ARK Next Generation Internet ETF began on September 30, 2014. This over-decade-long presence allows for more robust analysis of how each fund has performed through various market cycles. However, past performance does not guarantee future results, and the distinct thematic focus of each fund has led to different return profiles over the years.

How do the top ten holdings of ARKK and ARKW compare?

The top ten holdings for the ARK Innovation ETF include TSLA, SPCX, TEM, CRCL, and CRSP, among others, reflecting a broad disruptive innovation theme. In contrast, the top ten holdings for the ARK Next Generation Internet ETF consist of TSLA, HOOD, CRCL, SPCX, and AMD, highlighting a stronger focus on internet infrastructure. Notably, there is a significant overlap, with six of the top ten holdings shared between the two funds.

What is the concentration risk associated with the top holdings?

High concentration in the top ten holdings increases vulnerability to specific stock downturns for both funds. This means that the performance of the funds can be heavily influenced by a small number of companies. If one of these top holdings experiences a significant decline, the impact on the fund's overall net asset value could be substantial. Investors should be aware that this concentrated approach differs from broad-based index funds which diversify across hundreds or thousands of stocks.

What are the sector weights for these ETFs?

Sector weights for both the ARK Innovation ETF and the ARK Next Generation Internet ETF are not available in the provided data. This lack of immediate transparency regarding sector allocation means investors must rely on the disclosed top holdings to infer sector exposure. Typically, innovation and internet-focused funds have high allocations to information technology, communication services, and consumer discretionary, but precise current weights are not specified.

What type of investing goal is typically associated with ARKW?

The ARK Next Generation Internet ETF, with its 1.42% dividend yield, is typically associated with investors seeking a combination of growth and modest income generation. The inclusion of large-cap internet infrastructure players like Amazon and AMD suggests a focus on established digital economy trends. This makes it potentially suitable for those who want exposure to tech growth but also value regular distributions, distinguishing it from its sister fund which pays no dividends.

How should an investor interpret the lack of dividends in ARKK?

The zero dividend yield of the ARK Innovation ETF indicates that the fund retains all earnings for reinvestment or capital appreciation strategies, rather than distributing them to shareholders. This structure is typically associated with investors focused purely on long-term capital growth, where total return is derived from asset value increases rather than income. Investors seeking regular cash flow should note this characteristic when comparing it to income-generating alternatives.

ARKK vs ARKW

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare ARK Innovation ETF and ARK Next Generation Internet ETF, two mid-cap growth funds from ARK. This page examines fees, holdings, dividends and how each fund tracks its market. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

ARKK

Metric

ARKW

0.75%

Expense Ratio

0.76%

0.00%

Dividend Yield

1.42%

$7.98B

Net Assets

$1.90B

Holdings

Oct 31, 2014

Inception Date

Sep 30, 2014

–

Index Tracked

–

Mid-Cap Growth

Fund Category

Mid-Cap Growth

ARKK costs about $1.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	ARKK	ARKW
TSLATesla, Inc.	9.38%	7.52%
SPCXSpace Exploration Technologies Corp.	6.51%	4.59%
CRCLCircle Internet Group, Inc.	4.86%	4.69%
COINCoinbase Global, Inc.	4.21%	4.03%
HOODRobinhood Markets, Inc.	3.87%	5.11%
SHOPShopify Inc.	2.88%	3.56%

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Investment Analysis

ARKK

Pros

>$8.0 billion net assets provide substantial liquidity for institutional trading.
Inclusion of SpaceX, Tesla, Coinbase, and Circle indicates diversified disruptive theme exposure.
A 2014 inception date provides over a decade of historical performance data.

Considerations

A 0.75% expense ratio is significantly higher than passive index ETF fees.
Zero dividend yield eliminates regular income opportunities for shareholders.
High concentration in the top ten holdings increases vulnerability to specific stock downturns.

ARKW

Pros

Provides a 1.42% dividend yield, offering some income generation capability.
Inclusion of Amazon and AMD indicates exposure to broader technology and internet infrastructure.
A 2014 inception date ensures comparably long history to the sister fund.

Considerations

The fund is notably smaller with only $1.9 billion in net assets.
A 0.76% expense ratio represents a relatively high active management cost.
Significant overlap in holdings with ARKK may reduce effective portfolio diversification.

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About ARKK and ARKW

ARKK (ARKK)

ARK Innovation ETF (ARKK) is an actively managed exchange‑traded fund run by ARK Invest that targets companies believed to be developing disruptive innovation. It typically concentrates on areas such as genomics, automation and robotics, artificial intelligence, fintech, blockchain and energy storage. Unlike broad passive ETFs, ARKK holds a relatively small number of higher‑conviction positions and can show significant sector and stock concentration. That approach can deliver strong gains in favourable market regimes but also adds volatility and drawdown risk. ARKK charges a management fee and tends to have higher turnover than passive funds. Market cap is not applicable for this fund; investors should check assets under management and current holdings before deciding. This summary is for educational purposes only and not investment advice. Values can rise and fall, past performance is not a reliable guide, and this fund may not be suitable for all investors — consider your risk tolerance and consult a qualified adviser.

ARKW (ARKW)

The ARK Next Generation Internet ETF is designed for investors interested in themes like cloud computing, digital transformation, and internet infrastructure. It aims to track the price and yield performance of the ARK Next Generation Internet Index. With a mid-cap growth category, this fund holds 43 companies involved in developing next-generation internet technologies. The expense ratio is 0.76%, and it has net assets of USD 1.90 billion as of the latest data. Investors should note that while the fund offers exposure to innovative sectors, values can fluctuate, and returns are not guaranteed. It's suitable for those seeking thematic growth exposure but requires consideration of market risks and volatility.

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ARKK vs ARKW

Fund Snapshot