At a glance
ARKZ charges 0.7% a year. It has $7.3M in assets. Over the past year it returned +0.0% with distributions reinvested (S&P 500: +11.5%).
The short version
ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ) is an actively managed fund that gets exposure to the digital asset ether through futures on the Chicago Mercantile Exchange rather than owning ether. It charges 0.70% a year and had $7.3 million in net assets as of June 30, 2025. Replacing expiring contracts with new ones can pull returns away from ether's price, and ARKZ fell 67% from March 2024 to April 2025.
Price history
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ARKZ 0.0% 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 | |
|---|---|---|---|---|---|---|
| ARKZ price data to Oct 27, 2026 | 0.0% | 0.0% | — | — | — | +22.1% |
- Over the year to Oct 27, 2026, ARKZ returned 0.0%.
- Its worst full calendar year was 2025 (+21.9%); its best was 2024 (+31.9%).
- The deepest fall in its price history was 67% (Mar 11, 2024 to Apr 8, 2025), recovered by Aug 13, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +21.9% |
| 2024 | +31.9% |
| 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 |
|---|---|---|
| 2025 | $0.2500 | -76.2% |
| 2024 | $1.0500 |
What's inside
As of Jun 30, 2025, the fund held 2 securities; the ten largest made up -39.37% of assets, and 85.14% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| 912797PG6 FCSTONE RE 5.750% 7/31/25 RA | -16.61% | |
| 912797MH7 FCSTONE RE 5.750% 9/04/25 RA | -22.76% |
By country
United States -39.37%By asset type
RA -39.37%What changed recently
- Over the three months to Jun 30, 2025, investors withdrew a net $870K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.60%, +43.23%, -2.76%.
How it works
ARKZ, issued by ETF Architect, is actively managed: its managers, not an index, decide what it holds, aiming for growth in value. It gets exposure to ether, the Ethereum network's digital asset, through futures traded on the Chicago Mercantile Exchange. A futures contract is an agreement to trade an asset at a set price on a later date. These are cash settled in US dollars, and the fund may use standard or smaller "micro" contracts. It does not hold ether directly.
The futures sit in a wholly owned Cayman Islands subsidiary. The fund expects to put about 25% of its investable assets there, since more could create tax problems. Futures require only a deposit up front, so much of the fund sits in cash backing the contracts. As of June 30, 2025, it held July 2025 standard and micro ether futures, about 85% of assets in cash, and two short-term repurchase agreements (collateral-backed cash deals).
Futures expire, so the managers replace expiring contracts with later ones, a step called rolling. When later contracts cost more, rolling drags on returns; when they cost less, it helps. Over time, this can pull the fund well away from ether's spot (current market) price. The prospectus also warns that forks, software changes that split ether into separate versions, can affect futures prices.
What it really costs
- ARKZ charges 0.7% a year.
- The fee includes a 0.08% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $72 in the first year and $959 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ARKZ | $72 | $241 | $425 | $959 |
Structure and tax notes
- Uses ether futures contracts rather than holding ether directly. Expiring contracts must be rolled into later ones, and the price gap between them adds to or takes from returns, so over time it can drift well away from the spot price of what it tracks. Crypto prices can swing far more than stocks.
In a retirement portfolio
It gives concentrated exposure to a single digital asset through futures and fell 67% from March 2024 to April 2025, so it fits only as a small, high-risk slice of a portfolio.
ARKZ could add a small dose of ether exposure, but its swings are extreme. It launched in November 2023, so it has no record through the 2008, 2020 or 2022 downturns. Based on market prices, it fell 67% from March 11, 2024 to April 8, 2025, and regained that peak by August 13, 2025, about four months after the low. Its only two full calendar years were gains (31.9% in 2024, 21.9% in 2025). Anyone forced to cash out near the April 2025 low would have locked in a heavy loss.
It paid no income in the year through October 27, 2026. Its fee is 0.70% a year; in the SEC's standard example, costs on a $10,000 investment total $425 over five years. Past results don't predict future returns, and any plan needs to consider the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting ether exposure in a brokerage account through cash-settled futures (contracts on ether's future price) instead of buying and storing ether itself.
- Investors keeping a small, speculative slice who can stomach a 67% drop, like the one from March 2024 to April 2025.
- Investors who accept active management at a 0.70% yearly expense ratio: $72 in year one on $10,000 in the SEC's standard example.
Look elsewhere if
- Retirees needing income: it paid no distributions in the year ending October 27, 2026, so spending money would come only from selling shares.
- Investors seeking returns that closely match ether's price: rolling expiring futures into later contracts can push results well away from ether itself.
- Investors wanting a large, seasoned fund: net assets were about $7.3 million on June 30, 2025, and the fund launched November 13, 2023.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Does ARKZ own actual ether?
No. ARKZ does not hold ether or any other digital asset directly. It owns ether futures, contracts traded on the Chicago Mercantile Exchange that settle in US dollars based on ether's price, through a wholly owned subsidiary in the Cayman Islands. As of June 30, 2025, it held July 2025 standard and micro ether futures, with about 85% of its assets in cash. Because expiring futures must be replaced with later contracts, returns can drift well away from ether's spot (current market) price.
What is the ARKZ expense ratio?
ARKZ's expense ratio is 0.70% a year, according to its prospectus filed January 28, 2025, which also lists a fee waiver of 0.08 percentage points. The expense ratio is the yearly cost taken from fund assets. In the SEC's standard example, assuming $10,000 invested, a 5% annual return and shares cashed out at the end of each period, costs total $72 after one year, $241 after three, $425 after five and $959 after 10. That is far more than broad stock index funds typically charge.
Is ARKZ good for retirement income?
No, ARKZ is not built for income. It paid no distributions in the year through October 27, 2026, and its goal is capital appreciation, or growth in value. It is also very volatile: its three-year volatility, a measure of how widely returns bounce around, was about 60%, and it fell 67% from March 2024 to April 2025. It may suit only investors who want a small, high-risk slice of ether exposure.
How has ARKZ performed?
ARKZ gained 31.9% in 2024 and 21.9% in 2025, based on market prices, but the path was rough. Its prospectus shows its strongest quarter was a 49.97% gain in the quarter ended March 31, 2024, and its weakest was a 24.21% loss in the quarter ended September 30, 2024. From its March 11, 2024 peak, it fell 67% by April 8, 2025, then regained that level by August 13, 2025. Past results don't predict future returns.
What's the difference between ARKZ and a spot ether ETF?
The main difference is what the fund holds. A spot ether fund owns the digital asset itself, so its value follows ether's market price closely. ARKZ owns cash-settled ether futures through a Cayman Islands subsidiary and must keep replacing expiring contracts with later ones. The price gap between contracts can add to or subtract from returns, so ARKZ can drift well away from ether's price over time. ARKZ is also actively managed and charges 0.70% a year; costs are worth comparing side by side.