SARK – Tradr 1X Short Innovation Daily ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide daily investment results, before fees and expenses, of the inverse (-100%) of the daily performance of the ARK Innovation ETF. The fund is an actively managed ETF that attempts to achieve the inverse (-100%) of the return of the ARK Innovation ETF for a single trading day (and not for any other period) by entering into one or more swaps on the ARK Innovation ETF. A “single trading day” is measured from the time the fund calculates its NAV to the time of the fund’s next NAV calculation. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SARK	Tradr 1X Short Innovation Daily ETF	ETF	Open	—	—	Nov 5, 2021	$34.44M	0.990%	—	—	−$31.99M

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