Cathie Wood, the CEO of Ark Invest, has expressed that her ARK Innovation fund should not make up a significant portion of an investment portfolio. She mentioned in a recent interview that the fund is now more of a satellite strategy, despite its past performance during the pandemic where shares reached nearly $160.

Currently, the fund has lost about two-thirds of its value since its peak and has underperformed compared to the S&P 500. Wood acknowledged the challenges faced by the fund, particularly in the multiomics life sciences and healthcare sectors, which have significantly impacted its performance. However, she remains optimistic about advancements in technology and research, highlighting emerging companies like Intellia Therapeutics that are developing innovative disease-curing methods.

Wood believes that the fund complements traditional benchmarks and asserts that the underlying technologies will ultimately prove their worth.