At a glance
CARK charges 0.54% a year, above the 0.5% average of the 8 funds most like it (the 4th cheapest of 9). It has $319.2M in assets, the 7th largest of that group; it paid 0.02% of its price in distributions over the past 12 months, annual. Over the past year it returned +4.4% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds. Its ten largest positions make up 62.0% of the fund, out of 28 in all.
The short version
CastleArk Large Growth ETF (CARK) is an actively managed fund from CastleArk Management. It holds a concentrated group of large US growth stocks: 28 as of July 31, 2026, led by NVIDIA at about 12.5% and Alphabet at about 10.3%. Its 0.54% expense ratio is in line with similar actively managed growth funds. It is far above the 0.07% charged by Vanguard Mega Cap Growth ETF, an index fund that holds many of the same stocks.
Price history
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CARK +4.4% 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 | |
|---|---|---|---|---|---|---|
| CARK official prospectus, to Dec 31, 2025 | — | +10.67% | — | — | — | +20.37% |
| Russell 1000 Index Return (reflects no deductions for fees, expenses, or taxes) index, same period | — | +17.37% | — | — | — | +23.07% |
| Russell 1000 Growth Index Return (reflects no deductions for fees, expenses, or taxes) index, same period | — | +18.56% | — | — | — | +27.73% |
| CARK price data to Oct 27, 2026 | +7.1% | +4.4% | — | — | — | +16.5% |
- Over the year to Oct 27, 2026, CARK returned +4.4%, 3rd of 9 among similar funds.
- Its worst full calendar year was 2025 (+10.8%); its best was 2024 (+26.5%).
- The deepest fall in its price history was 25.2% (Dec 11, 2024 to Apr 8, 2025), recovered by Jul 28, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.2% | — |
| 2025 | +10.8% | +10.67% |
| 2024 | +26.5% | +26.55% |
| 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 | $0.0100 | 0.0% |
| 2024 | $0.0100 |
What's inside
As of Jul 31, 2026, the fund held 28 securities; the ten largest made up 62.04% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 12.50% | |
| ALPHABET INC. | 10.29% | |
| APPLE INC. | 6.36% | |
| ELI LILLY AND COMPANY | 5.46% | |
| BROADCOM INC. | 5.03% | |
| LAM RESEARCH CORPORATION | 4.90% | |
| ARISTA NETWORKS, INC. | 4.85% | |
| VISA INC. | 4.74% | |
| MICROSOFT CORPORATION | 4.54% | |
| ADVANCED MICRO DEVICES, INC. | 3.38% | |
| META PLATFORMS, INC. | 3.19% | |
| AMAZON.COM, INC. | 3.18% | |
| ANALOG DEVICES, INC. | 2.98% | |
| GILEAD SCIENCES, INC. | 2.97% | |
| SNOWFLAKE INC. | 2.85% |
By country
United States 97.99%By asset type
Stocks 97.99%By sector
Sectors of the companies held, for the 91.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.34%, -1.73%, +5.99%.
How it works
CARK does not track an index. Its managers pick the stocks. They start with about 1,000 companies, screened by size and by numbers such as profit margins, return on equity, return on invested capital and free cash flow (the cash a business has left after paying its costs and investments). They then research individual companies, looking for established firms with a lasting competitive edge whose expected free cash flow margins and earnings growth rank in the top 20% of that group.
At least 80% of the fund goes into companies worth more than $10 billion. Up to 20% can go into mid-sized companies worth $4 billion to $10 billion. The portfolio usually holds about 20 to 40 stocks. The fund is "non-diversified," so it can put more money into fewer companies than a typical fund. The prospectus gives no fixed weighting formula or rebalancing schedule. The managers may sell a stock if its competitive edge weakens, its fundamentals worsen sharply, a change in management or strategy raises doubts, or they find a better growth company. As of July 31, 2026, the 10 largest positions made up about 62% of assets, and technology stocks made up about half.
Portfolio turnover was 68%, which means frequent trading. That can raise trading costs and lead to taxable capital gains payouts. As of July 31, 2026, the fund used no derivatives, options or leverage. Like any ETF, its market price can drift slightly above or below the value of its holdings.
What it really costs
- CARK charges 0.54% a year, versus an average of 0.5% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $55 in the first year and $677 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CARK | $55 | $173 | $302 | $677 |
In a retirement portfolio
It is a concentrated, actively managed bet on about 28 large growth stocks, about half of them in technology, so it fits better as a small add-on than as a foundation.
CARK launched on December 6, 2023, so it has no record from the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 25.2%, from December 11, 2024, to April 8, 2025. It got back to its old high by July 28, 2025, about 3.6 months later. Its weaker full calendar year, 2025, was still a 10.67% gain, but that trailed the Russell 1000 Growth Index's 18.56%. Its beta was 1.39 for the year to October 27, 2026, meaning it tended to swing more than the overall market. Someone who needs to sell shares during a slump could lock in steep losses. It pays almost no income: the yield was 0.02% as of October 27, 2026, paid once a year. Costs are 0.54% a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a hand-picked basket of about 28 large growth stocks, led by NVIDIA, Alphabet and Apple as of July 31, 2026.
- Holders of a broad index fund who want a small, actively managed growth add-on, with about half the assets in technology.
- Long-horizon investors who can ride out drops like the 25.2% fall from December 2024 to April 2025 without selling.
Look elsewhere if
- Income seekers: the yield was 0.02% as of October 27, 2026, and the fund pays only once a year.
- Cost-focused investors: Vanguard Mega Cap Growth ETF (MGK) charges 0.07% against CARK's 0.54%, and the two share 57% of their holdings.
- Anyone who wants a long track record: CARK launched in December 2023 and returned 10.67% in 2025, against 18.56% for the Russell 1000 Growth Index.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CARK this fund | — | 0.54% | $319.2M | +4.4% | — |
| PGRO Putnam Focused Large Cap Growth ETF | 66% | 0.56% | $212.1M | +3.1% | +24.6% |
| TGRW T. Rowe Price Growth Stock ETF | 62% | 0.52% | $1.03B | -0.6% | +21.4% |
| NUGO Nuveen Growth Opportunities ETF | 61% | 0.56% | $2.44B | +4.6% | +25.6% |
| WINN Harbor Long-Term Growers ETF | 59% | 0.57% | $1.13B | +5.5% | +25.4% |
| PJFG PGIM Jennison Focused Growth ETF | 59% | 0.75% | $140.3M | +3.6% | +25.2% |
| TGRT T. Rowe Price Growth ETF | 59% | 0.38% | $1.48B | +1.0% | +23.5% |
| TCHP T. Rowe Price Blue Chip Growth ETF | 58% | 0.57% | $2.16B | -1.2% | +23.5% |
Questions investors ask
Is CARK good for retirement?
It is more likely to suit a small, higher-risk slice of a retirement portfolio than a core role. As of July 31, 2026, it held just 28 stocks, and about half its assets were in technology. It fell 25.2% between December 2024 and April 2025, though it recovered in about 3.6 months. It pays almost no income, and it has no history from the 2008, 2020 or 2022 downturns because it launched in December 2023.
Does CARK pay dividends?
Yes, but very little. Over the 12 months to October 27, 2026, it paid about $0.01 per share, a yield of 0.02%. It pays once a year. That is expected for a fund of growth companies, which tend to reinvest profits rather than pay them out. Many growth companies pay no dividend at all. Investors looking for regular income would need other holdings.
What's the difference between CARK and PGRO?
Both are actively managed, concentrated large-growth ETFs, and they share about 66% of their holdings, the most of any similar fund. Putnam Focused Large Cap Growth ETF (PGRO) charges 0.56% against CARK's 0.54%. Over the year to October 27, 2026, CARK returned 4.4% and PGRO 3.1%. PGRO has a three-year record of 24.6% a year, while CARK is too new for one. CARK was the larger fund, with about $319 million in net assets against PGRO's $212 million.
What is CARK's expense ratio?
CARK's expense ratio is 0.54% a year, according to its prospectus filed February 27, 2026. In the SEC's standard example ($10,000 invested, 5% yearly return), that comes to about $55 after one year, $173 after three, $302 after five and $677 after ten. Among nine similar funds, it ranks 4th lowest. The group averages 0.50%, and Vanguard Mega Cap Growth ETF (MGK), an index fund, charges just 0.07%.
Has CARK beaten the Russell 1000 Growth Index?
No. As of December 31, 2025, CARK returned 10.67% for 2025 and 20.37% a year on average since its December 2023 launch, after fees. Over the same periods, the Russell 1000 Growth Index returned 18.56% and 27.73% a year, before any fees. CARK's 2024 return of 26.55% was its stronger year. With less than three years of history, its record is still short.