At a glance
ARKD charges 0.89% a year, above the 0.86% average of the 7 funds most like it (the 6th cheapest of 8). It has $1.4M in assets, the 8th largest of that group. Over the past year it returned −65.0% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds.
The short version
ARKD has a blockchain name, but its September 25, 2025 prospectus describes it as the ARK DIET Q1 Buffer ETF: it holds the ARK Innovation ETF (ARKK) and uses options to reshape each January-to-December return. It aims to take half of ARKK's losses, but gains begin only after ARKK rises 5%, and even then are partial. With $1.43 million in assets as of July 31, 2026, it is far smaller than other buffer funds.
Price history
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ARKD -65.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ARKD price data to Oct 27, 2026 | -65.0% | -65.0% | — | — | — | -5.1% |
- Over the year to Oct 27, 2026, ARKD returned -65.0%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+26.1%); its best was 2024 (+61.6%).
- The deepest fall in its price history was 72.1% (Aug 13, 2025 to Mar 30, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +26.1% |
| 2024 | +61.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2024 | $5.8900 |
What's inside
As of Jul 31, 2026, the fund held 1 securities; the ten largest made up 96.06% of assets.
| Fund held | Weight | |
|---|---|---|
| ARK Innovation ETF | 96.06% |
By country
United States 96.06%By asset type
Stocks 96.06%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.17%, -0.91%, -6.54%.
How it works
ARKD does not track an index. Its September 25, 2025 prospectus describes it as the ARK DIET Q1 Buffer ETF, an actively managed fund that invests substantially all its assets in the ARK Innovation ETF (ARKK). As of July 31, 2026, ARKK was 96.06% of the portfolio, plus three ARKK options positions and 0.68% cash.
On the trading day before each January 1 to December 31 “outcome period,” the fund sells ARKK call options (contracts that hand the buyer any rise above a set price) at ARKK's starting price, covering all its assets. That caps its direct gains from ARKK but raises cash, which buys two things. Put options (contracts that pay when prices fall) covering half its assets mean a 2% drop in ARKK should cost the fund about 1%. Call options that pay only above 105% of ARKK's starting price mean the fund gains nothing on ARKK's first 5% rise, then gets a share of further gains that is meaningful but less than one-for-one. The fund posts that participation rate at ark-funds.com before each period.
These targets apply only to shares bought by the period's first day and held to its end; buying or selling midway changes the result. They are also before the 0.89% expense ratio, which trims gains and deepens losses.
What it really costs
- ARKD charges 0.89% a year, versus an average of 0.86% for the similar funds below (6th of 8, cheapest first).
- Of that, 0.69% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.55% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $91 in the first year and $— over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ARKD | $91 | $401 | $— | $— |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
- Uses options to limit losses within a range (the buffer) in exchange for a cap on gains over each outcome period; results depend on when you buy relative to the period start.
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It wraps a single innovation fund, ARKK, in a complex options structure that still passes on half of ARKK's losses, and its short price record has swung sharply.
ARKD gives partly cushioned exposure to ARKK: before fees, half of ARKK's yearly loss still reaches the fund. Launched November 14, 2023, it has no record from the 2008, 2020 or 2022 downturns. Its only full calendar years were gains, 61.64% in 2024 and 26.11% in 2025, mostly before the buffer prospectus filed September 25, 2025. In 2026 through October 27, its price fell 65%, more than the 50% downside design implies. Its deepest drop, 72.1% from August 13, 2025, to March 30, 2026, had not recovered by October 27, 2026. Selling after such a fall locks in losses.
It paid no income in the year to October 27, 2026. Its expense ratio is 0.89%; in the SEC's standard example, $10,000 invested costs $91 over one year and $401 over three. Past results don't predict the future; a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting ARKK exposure with half the losses, who accept no gain on ARKK's first 5% rise and only partial gains above it.
- Holders who can buy by the first day of the January-to-December outcome period and keep shares to its end, when targets apply.
- Investors comfortable with complex options funds who would hold it as a small satellite and check ark-funds.com for each period's participation rate.
Look elsewhere if
- Retirees who need regular income: the fund made no distributions in the year to October 27, 2026.
- Anyone unable to stomach deep losses: its price fell 65% in 2026 through October 27, and its 72.1% drop had not recovered.
- Investors wary of tiny funds: net assets were $1.43 million as of July 31, 2026, smallest of eight buffer funds compared.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| ARKD this fund | 0.89% | $1.4M | -65.0% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Is ARKD a blockchain ETF?
Not directly, based on its SEC filings. Despite the blockchain name, the prospectus filed September 25, 2025 describes the fund as the ARK DIET Q1 Buffer ETF. Its holdings as of July 31, 2026, were 96.06% in the ARK Innovation ETF (ARKK), plus three options positions on ARKK and 0.68% in cash. Its price history starts at its November 14, 2023 launch and includes years before that prospectus, so older returns may reflect a different approach.
What's the difference between ARKD and ARKK?
ARKD owns ARKK and reshapes its returns with options. Over each January-to-December period, before fees, ARKD aims to lose about half as much as ARKK, gain nothing on ARKK's first 5% rise, and capture only part of gains beyond that. Its September 25, 2025 prospectus lists a 0.89% expense ratio after a 0.55% fee waiver and notes that holders also bear a share of ARKK's expenses. Owning ARKK directly avoids that extra layer but keeps the full downside.
Does ARKD protect against losses?
Only partly. Before fees, the fund aims to lose about 1% for every 2% ARKK falls over a full January-to-December period, so half of any drop still comes through. That target applies only to shares bought by the period's first day and held to its end. Its price fell 65% in 2026 through October 27, more than the design implies, so the fund's own reported returns are worth checking. Its deepest drop was 72.1%, from August 13, 2025, to March 30, 2026.
Does ARKD pay dividends?
No. The fund made no distributions in the year to October 27, 2026, so its yield for that period was 0%. It does receive any dividends ARKK pays on the shares it holds, but the cash from selling call options goes into other options that shape returns, not into payouts. Someone who needs regular cash would have to sell shares, which locks in losses after a price fall.
How does ARKD compare with buffer ETFs like PJAN?
ARKD costs more and has lagged badly. Innovator U.S. Equity Power Buffer ETF - January (PJAN) is a buffer fund built on U.S. equity, while ARKD applies a 50% downside offset and a 5% hurdle to ARKK, so they are not close substitutes. PJAN's expense ratio is 0.79% versus ARKD's 0.89%. Over the year to October 27, 2026, PJAN returned 10.5% while ARKD's price fell 65%. PJAN held about $1.44 billion as of July 31, 2026; ARKD held $1.43 million.