The flagship exchange traded fund run by star US stock picker Cathie Wood has been downgraded by Morningstar, with the ratings firm claiming the strategy has become “more vulnerable to severe losses”.
Morningstar downgraded its rating on the Ark Innovation ETF from neutral to negative, highlighting that since posting a 156% return in 2020 the fund has been “one of the worst-performing” sold in the US market.
It...
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