SARK provides daily 1x inverse exposure to ARKK an exchange-traded fund composed of 30-55 companies globally involved with, or that benefit from, disruptive innovation. As such, SARK may counterbalance an existing portfolio of high-growth stocks during a market decline in the space but risks losing value if and when the underlying funds price rises. Its strategy involves entering into swap agreements with global financial institutions exchanging returns based on the performance of ARKK shares. To achieve maximum results, the fund may also invest in fixed income securities with investment-grade ratings including Treasurys, short-term bond ETFs, corporate bonds, and money market funds as collateral required by the funds counterparties. As a leveraged inverse product with -1x factor that resets daily, SARK is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one-day period. Prior to August 5, 2022, the fund traded as Tuttle Capital Short Innovation ETF. Before May 15, 2024, the fund traded as AXS Short Innovation Daily ETF.
