Skip to content
etf.net

Launched · SEC filings

Tradr 1X Short Innovation Daily ETF

SARKNasdaqTradrCThis 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.

$26.42+0.55 (+2.13%)

At close: Nov 2, 2026, 4:00 PM ET

C53/ 100

Rank 15 of 54 in Leveraged Inverse (2x & Other)

C53/100Rank 15 of 54inLeveraged Inverse (2x & Other)
Intraday session: up, 79 prints from 25.87 to 26.42. Range 25.49 to 26.47. Use the arrow keys to read each point.25.6026.0026.2010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$36M
1Y total return
−3.4%
Yield · Last 12 months
3.29%
Holdings
2
Avg volume · 30D
142K sh
52W range
low $22.27high $35.67
Launched
Filings
SEC EDGAR

The ETF.net SARK Grade

Based on 5 of 6 pillars

C

Score 53 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
15 of 54
Six-pillar profile for SARK. Scores out of 100: Cost 50, Risk 48, Mission 96, Tradability 69, Holdings not scored, Durability 39. Strongest: Mission (96). Weakest: Durability (39). Based on 5 of 6 pillars.

Score 53 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C50 out of 100
    Rank 1 of 54

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A96 out of 100
    Rank 6 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C48 out of 100
    Rank 25 of 53

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B69 out of 100
    Rank 11 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D39 out of 100
    Rank 41 of 54

Our read on SARK

ETF.net Research

In short

CThe original anti-ARKK trade. Launched in 2021 as the first US ETF built to short another ETF, SARK uses swaps to aim for the inverse of the ARK Innovation ETF's move over a single day, then resets overnight. A trading tool, not a hold.

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

  • First of its kind: at launch it was the first US ETF offering short exposure to another ETF, and it still delivers that exposure through swaps rather than a margin account and borrowed shares.sec.govwikipedia.org
  • One job, done tightly: daily inverse exposure to the ARK Innovation ETF, and it has stayed close to that one-day target. That lands it in the upper half of a crowded inverse field.
  • Costs 0.99% a year, with no waiver propping the number up, which sits near the category median for inverse funds. Index shorts like PSQ and DOG aim at benchmarks; this one aims at a stock picker.

Worth knowing

  • The clock resets every session. Hold past a day and the path of ARK Innovation's moves, not just its direction, shapes your result.tradretfs.com
  • Exposure comes from swap contracts with financial institutions, so counterparty risk rides alongside market risk.sec.govtradretfs.com
  • The target moves. You are positioned against an actively managed portfolio whose holdings ARK can reshuffle, so what you are short today may not be what you are short next quarter.wikipedia.org

SARK Holdings

Asset class
Other
Holdings
2
Top-10 weight
106%
Largest holding
Cashusd100.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataCashusd100.22%35,856,171$35.9M53
2No dataCfd Ark Innovation Etf5.40%37,267,548$1.93M1

Showing 1–2 of 2 holdings

SARK Performance

Launched Nov 5, 2021

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

Not enough history yet.Not enough history yet.
SARK$9,660
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SARK $9,660. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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−14.5%
1 month+9.0%
3 months−14.6%
1 year−3.4%
3 yearsper year−36.0%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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−14.5%
2025−26.0%
2024−36.9%
2023−46.2%
2022+82.0%
2021+20.8%

History from Nov 9, 2021

SARK in the news

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 Oct 30, 2026.
3.29%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

$10,000 in SARK 3 years ago paid $1,492 in dividends.

SARK Risk

Risk pillarC48 out of 100Rank 25 of 53 in Leveraged Inverse (2x & Other)

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.
46.6%
Annualised · 36 months to Oct 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.
−0.79
vs 3-month T-bills · to Oct 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.
−83.5%
59 months · trough Oct 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.

FMP measures it over up to five years of monthly returns.

SARK Cost

Compare SARK and QQQD

Overpaying vs QQQD, cheapest in Leveraged Inverse (2x & Other)

$8,546

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SARK 0.99%

    $18,525

  • QQQD 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • SARK 0.99%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SARK $18,525QQQD $9,979

Year by year

YearSARKQQQDOverpaying
10$1,746$900$846
20$6,565$3,460$3,105
30$18,525$9,979$8,546

Other funds in Leveraged Inverse (2x & Other)

See others