ARKX(ARKX)
AI Look-Through Summary
AI GeneratedThe ARKX ETF currently manages approximately $0.7 billion in assets and exhibits a distinct tilt toward the Industrials sector, which accounts for over one-third of its portfolio weight. This heavy allocation is driven by significant concentrations in companies such as LHX, AVAV, DE, ACHR, and RKLB UQ, collectively representing more than 45% of top holdings within this single category. The remaining substantial portion of the fund is diversified into Technology, comprising roughly a quarter of total assets through positions like TER, PLTR, AMD, and TRMB. While smaller exposures exist in Consumer Cyclical and Communication Services sectors, these contribute minimally to the overall risk profile compared to the dominant industrial and technological drivers.
Concentration analysis reveals that the top ten holdings constitute a notable chunk of the fund's total value, with individual positions exceeding 8% for RKLB UQ and LHX alone. This structure suggests a strategy focused on specific high-conviction themes rather than broad market diversification, as evidenced by the repeated appearance of Industrials across multiple tier-one and mid-tier holdings. The geographic composition is not explicitly detailed in the provided data points; however, the sector weights imply a heavy reliance on companies operating within developed markets where advanced manufacturing and aerospace defense activities are prevalent. Quantitatively, the fund's small AUM relative to its concentrated top ten suggests potential volatility sensitivity, as shifts in valuation multiples for key names like KTOS or AVAV could disproportionately impact net asset value movements without significant buffering from smaller positions.
Ultimately, this ETF functions as a leveraged bet on specific industrial and technological sub-sectors rather than providing balanced exposure across the entire equity universe. The interplay between high-weight Industrials and growing Technology stakes creates a unique risk-return dynamic that differs markedly from traditional broad-based indices. Investors examining this vehicle must weigh the potential for outsized gains in these targeted themes against the inherent risks associated with such concentrated sector bets and limited asset base depth.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-22 22:44:42.416375+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 45/100The thematic alignment between the ARKX name, which implies a focus on artificial intelligence and robotics, and its actual holdings reveals significant divergence. While several top positions like LHX, AVAV, DE, and ACHR are industrials often associated with defense or aerospace applications that could intersect with advanced manufacturing, their inclusion appears driven more by sector momentum than pure AI/robotics exposure. Notably, major industrial giants such as Deere & Company sit within the top ten without a clear direct link to autonomous robotics or generative AI infrastructure. Furthermore, the presence of broad technology leaders like Amazon and Google alongside semiconductor names suggests the fund may be leveraging large-cap stability rather than maintaining a tightly curated thematic portfolio focused exclusively on disruptive automation technologies.
Sector concentration presents another layer of complexity regarding the fund's differentiation from broader market indices. With Industrials comprising over thirty-two percent of assets, the portfolio relies heavily on a sector that is not synonymous with artificial intelligence development or deployment. The Technology allocation, while substantial at nearly twenty-five percent, includes mega-cap names that serve as general internet and cloud infrastructure providers rather than specialized robotics developers. This heavy weighting in established industrial and tech giants creates a profile that closely mirrors broad-based market indices more than a distinct thematic strategy would suggest. Consequently, the fund's returns are likely driven by overall sector trends in defense contracting and large-cap tech performance rather than specific innovations within the artificial intelligence or advanced robotics ecosystems implied by its branding.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 02:01:21.819994+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors from ARKX's top holdings highlight a convergence of systemic macro-level threats centered on regulatory compliance and operational resilience. A primary emerging concern is the potential for stringent environmental, data privacy, and artificial intelligence regulations to materially increase operational costs across multiple sectors simultaneously. Specifically, disclosures indicate that adherence to climate change mandates could adversely affect financial conditions, while evolving requirements around responsible AI use may constrain competitive positioning or inflate expenditure profiles. These shared vulnerabilities suggest that external policy shifts are creating a uniform headwind for the fund's portfolio, particularly within technology and aerospace segments where data governance and sustainability reporting are becoming critical cost drivers.
The concentration of these risks is significant given that multiple high-weight holdings face correlated downside pressures from similar regulatory frameworks. While specific disclosures were detailed for NVIDIA regarding environmental standards, cybersecurity costs, and AI regulation, the presence of such factors across a diversified set of top-tier positions implies a broad-based exposure to tightening compliance regimes. This correlation means that adverse changes in federal or international policy could trigger simultaneous cost escalations or operational disruptions across several key portfolio components rather than isolated incidents. The overlap between data privacy requirements affecting cybersecurity operations and AI usage regulations further amplifies this systemic risk, as companies must navigate increasingly complex legal landscapes that directly impact their bottom lines.
Although the provided text focuses heavily on NVIDIA's specific exposures to climate change rules, cyber costs, and AI governance, these factors represent a material portion of the fund's total value at 2.5%. If other undisclosed holdings within the top fifteen face similar regulatory burdens without explicit mention in this snippet, the aggregate impact could be substantial due to the weight assigned to NVIDIA alone. The interplay between rising compliance expenses and potential competitive erosion from restrictive AI laws presents a distinct risk profile that warrants close monitoring as policy environments evolve globally.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-23 21:29:43.517763+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of ARKX reveals a pronounced thematic focus on defense and aerospace, evidenced by the combined 32.2% exposure to Industrials and significant representation within top holdings like LHX and AVAV. This heavy weighting suggests an investment thesis centered on national security infrastructure rather than broad market diversification, with Technology serving as a secondary pillar at 24.6%, primarily anchored by TER in communications hardware or software. The relatively minor presence of Consumer Cyclical assets at 4.5% and Communication Services at 2.8% indicates that the fund avoids non-discretionary spending sectors, reinforcing a strategy tied to government contracting cycles and advanced manufacturing capabilities rather than consumer demand trends.
Concentration risk is notably elevated given that the top ten holdings account for nearly 63% of total assets, with individual positions such as RKLB UQ exceeding an 8.9% weight. This structure implies limited diversification within the portfolio's core themes, meaning performance will be highly sensitive to the operational outcomes and regulatory environments affecting just a few key companies rather than sector-wide trends. The dominance of specific industrial names over broader market indices suggests that the fund's factor tilts are skewed toward small-cap growth characteristics often found in emerging defense technologies, potentially increasing volatility during periods of geopolitical uncertainty or budgetary shifts. Ultimately, this allocation profile reflects a high-beta approach targeting niche innovation within the defense industrial complex while accepting substantial idiosyncratic risk associated with its top-tier constituents.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 01:19:55.362971+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share ARKX's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of ARKX's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ARKQARKQ | $2B | — | 23 | 87.8% |
| SPTMSPTM | $12B | — | 19 | 67.9% |
| ONEOONEO | $25M | — | 17 | 53.7% |
| VONEVONE | $10B | — | 15 | 48.9% |
| VTIVanguard Total Stock Market Index Fund ETF Shares | $2.1T | 0.03% | 15 | 48.9% |
88% of ARKX's portfolio by weight is also held by ARKQ, which commands 3× more assets under management. When ARKQ receives inflows, it mechanically buys these shared stocks — dragging ARKX's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofARKX's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 66% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 83% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside ARKX collectively pay out 28% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 37% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryARKX is up 73.3% over the last 12 months. The underlying weighted earnings growth of its constituents is +28.2%. The remaining +45.1% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 81% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of ARKX's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of ARKX's analyzed weight, 35% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 65% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 62% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDARKX's top holding RKLB UQ at 8.9% is above the 8% elevated-concentration threshold. The effective number of stocks is 20 vs. the actual count of 33.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
ARKX has a Passive Crowding Score of 39/100. On average, 11.6% of the market capitalization of ARKX's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 2 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | RKLB UQ | ROCKET LAB | 8.90% | — | — |
| 2 | LHX | L3HARRIS TECHNOLOGIES INC Industrials | 8.34% | 34.3x | 8/9 |
| 3 | KTOS | KRATOS DEFENSE & SECURITY | 7.75% | 377.2x | 3/9 |
| 4 | TER | TERADYNE INC Technology | 7.22% | 69.4x | 5/9 |
| 5 | AVAV | AEROVIRONMENT INC Industrials | 6.58% | — | 2/9 |
| 6 | DE | DEERE & CO Industrials | 5.28% | 30.7x | 5/9 |
| 7 | ACHR | ARCHER AVIATION INC-A Industrials | 5.08% | — | 4/9 |
| 8 | PLTR | PALANTIR TECHNOLOGIES INC-A Technology | 4.34% | 175.9x | 8/9 |
| 9 | AMD | ADVANCED MICRO DEVICES Technology | 4.16% | 172.6x | 7/9 |
| 10 | TRMB | TRIMBLE INC Technology | 4.13% | 29.5x | 4/9 |
| 11 | IRDM | IRIDIUM COMMUNICATIONS INC | 3.62% | 52.3x | 7/9 |
| 12 | AMZN | AMAZON.COM INC Consumer Cyclical | 3.38% | 31.7x | 6/9 |
| 13 | GOOG | ALPHABET INC-CL C Communication Services | 2.78% | 28.7x | 6/9 |
| 14 | NVDA | NVIDIA CORP Technology | 2.53% | 32.4x | 4/9 |
| 15 | JOBY | JOBY AVIATION INC | 2.44% | — | — |
Historical Holdings Snapshots
Browse how ARKX’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
2026-05-23
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
2026-05-22
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
2026-05-21
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
2026-05-20
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
2026-05-19
15 holdings · 76.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | RKLB UQ | 8.90% | 659,546 | $46.0M |
| 2 | LHX | 8.34% | 146,728 | $43.1M |
| 3 | KTOS | 7.75% | 527,748 | $40.1M |
| 4 | TER | 7.22% | 192,651 | $37.3M |
| 5 | AVAV | 6.58% | 140,659 | $34.0M |
| 6 | DE | 5.28% | 58,643 | $27.3M |
| 7 | ACHR | 5.08% | 3,494,036 | $26.3M |
| 8 | PLTR | 4.34% | 126,096 | $22.4M |
| 9 | AMD | 4.16% | 100,401 | $21.5M |
| 10 | TRMB | 4.13% | 272,441 | $21.3M |
| 11 | IRDM | 3.62% | 1,077,332 | $18.7M |
| 12 | AMZN | 3.38% | 75,711 | $17.5M |
| 13 | GOOG | 2.78% | 45,846 | $14.4M |
| 14 | NVDA | 2.53% | 70,102 | $13.1M |
| 15 | JOBY | 2.44% | 955,434 | $12.6M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove ARKX Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedARKX is currently trading at $33.84, a price point that sits within the broader context of its historical volatility and recent trend structure. The technical setup suggests a delicate balance where short-term momentum may be influenced by underlying support levels, yet the absence of sustained upward pressure indicates potential fragility in the current rally. Without confirmation from volume expansion or a decisive breakout above immediate resistance, any gains observed could be susceptible to sharp corrections should market sentiment shift against the sector's narrative. The drawdown characteristics and prevailing volatility metrics highlight that price action is not necessarily driven by fundamental stability but rather by speculative flows reacting to macroeconomic cues. This environment often creates conditions where momentum appears structural until tested by a broader market correction or a failure in key technical support zones. Consequently, the risk profile remains elevated as the asset navigates through periods of high uncertainty, making it essential to monitor whether price action can maintain its current trajectory without relying on temporary liquidity injections. Ultimately, the interplay between the current valuation and recent trading ranges underscores a scenario where downside protection is critical if momentum stalls. The market structure implies that while there are opportunities for short-term positioning, the lack of robust fundamental backing relative to the asset's price history suggests that any bullish movement could be transient. Traders must remain vigilant regarding how quickly volatility can expand in either direction, as the current technical configuration does not yet signal a definitive shift from a defensive posture to an aggressive accumulation phase.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How ARKX’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.