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SARK

GradeBNASDAQ Global Market

Tradr 1X Short Innovation Daily ETF

Leveraged · Leveraged & Inverse · Tradr · Inception 2021-11-05 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$23.54+0.47 (+2.04%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Nov 9, 2021.
Intraday session: up, 67 prints from 23.07 to 23.54. Range 23.02 to 23.55. Use the arrow keys to read each point.$23.00$23.20$23.4010 AM12 PM2 PM4 PM
Expense ratio
0.96%
Fund size
$34M
1Y return
−19.2%
Yield · Last 12 months
3.69%
Volume · 30D
0.2M sh
NAV per share
$23.09
52W range
low $23.01high $35.67

The ETF.net SARK Grade

B

68/ 100

Rank 9 of 54 in Leveraged Inverse (2x & Other)⁠

Confidence High

Six-pillar profile for SARK. Scores out of 100: Cost 88, Risk 44, Mission 82, Tradability 65, Holdings not scored, Durability 41. Strongest: Cost (88). Weakest: Durability (41). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 68 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 88
    Category rank8/54 · top 15%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 82
    Category rank7/9 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 44
    Category rank31/53 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 65
    Category rank12/54 · top 22%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 41
    Category rank41/54 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on SARK

ETF.net Research

BMost inverse funds bet against an index. SARK aims at one actively managed portfolio, the ARK Innovation ETF, seeking the opposite of its move over a single trading day. A trading tool with a very specific target.

Stated mandate

The Fund seeks daily inverse exposure to the ARK Innovation ETF for one trading day, using swaps and daily repositioning. It is intended for sophisticated, actively managed trading or hedging strategies.

Why people hold it

  1. 010.96% a year, below the median for inverse and leveraged funds, so the wrapper isn't the expensive part of the trade.
  2. 02Short exposure without a margin account or locating shares to borrow: swaps inside an ETF you buy like any other share.
  3. 03Points at one disruptive-innovation portfolio instead of a broad index, so the exposure is a scalpel on a single style rather than the whole market.
  4. 04Live since 2021 and among the better-built options in its inverse and leveraged peer group on cost and day-to-day execution.

Worth knowing

  1. 01The exposure resets every day. Hold past a session and compounding can push your result well away from the inverse of the period's move.
  2. 02The target is actively managed: the other fund's manager can reshuffle holdings at will, and you are short whatever they own that day.
  3. 03Small fund, narrow mission. Niche daily-reset products lean on continued trader interest in the one theme they trade against.

SARK Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
—
Top-10 weight
112%
Largest holding
CASHUSD111.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASHUSD111.93%39,697,074$40M49

Showing 1–1 of 1 holdings

SARK Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SARK$8,081
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SARK $8,081. SPY $11,723. Use the arrow keys to read each point.$7,737$10,234$12,731Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SARK. Periods over one year show the average yearly return.
PeriodSARK
Year to date−23.7%
1 month−6.9%
3 months−17.0%
1 year−19.2%
3 years−36.4%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SARK
YearReturn barSARK
2026 YTD−23.7%
2025−26.0%
2024−36.9%
2023−46.2%
2022+82.0%
2021+20.8%

History from Nov 9, 2021

SARK in the news

ETF.net Research hasn’t filed on SARK yet — coverage lands here as it’s written.

SARK Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.69%Last 12 months
Payout per share
$0.85Last 12 months
Last payment
$0.85 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 27, 2022 $41.24; Dec 26, 2023 $9.79; Dec 23, 2024 $6.52; Dec 23, 2025 $0.85. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 26, 2025$0.85
Dec 23, 2024Dec 27, 2024$6.52
Dec 26, 2023Dec 29, 2023$9.79
Dec 27, 2022Dec 29, 2022$41.24

SARK Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
47.6%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.64
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−83.3%
58 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.73
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SARK Cost

Expense ratio0.96%
  • The middle half of Leveraged Inverse (2x & Other) funds
  • Median 1.44%

9 of the 53 Leveraged Inverse (2x & Other) funds charge less.

SARK costs $96.00 a year on $10,000. The median Leveraged Inverse (2x & Other) fund costs $144.00.