BMO Investments has introduced a trio of ETFs in Canada providing direct exposure to three of ARK Invest’s most popular US-listed thematic technology ETFs.
The three ARK ETFs are the $7.7 billion ARK Innovation ETF (ARKK US), the $2.4bn ARK Genomic Revolution ETF (ARKG US), and the $1.3bn ARK Next Generation Internet ETF (ARKW US).
The ETFs are actively managed by prominent stock picker Cathie Wood, ARK’s founder, CEO, and CIO.
Each fund invests in up to 50 US-listed equities, including American Depository Receipts, of companies aligned with sub-themes related to its core investment mandate.
The ARK Innovation ETF, which is ARK’s flagship fund, targets companies across sectors that are exhibiting ‘disruptive innovation’, defined as the introduction of technologically enabled new products and services that can potentially change the way the world works. Eligible sub-themes include areas such as DNA technologies, automation & robotics, energy storage, artificial intelligence, the future of the internet, and fintech innovation.
The ARK Genomic Revolution ETF focuses on companies poised to benefit from technological and scientific developments in DNA sequencing, gene editing, targeted therapeutics, bioinformatics, and agricultural biology.
The ARK Next Generation Internet ETF, meanwhile, focuses on companies poised to benefit from breakthroughs in internet-based products and services, new payment methods, blockchain technology, big data, the internet of things, and mobile, social, and streaming media.
BMO ARK ETFs
Listed on the Toronto Stock Exchange, the three new ETFs are the BMO ARK Innovation ETF (ARKK CN), BMO ARK Genomic Revolution ETF (ARKG CN), and BMO ARK Next Generation Internet ETF (ARKW CN).
Each ETF comes with a management fee of 0.75% and an expected management expense ratio of 0.85%.
Cathie Wood, CEO and CIO, ARK Invest, said: “Leveraging BMO’s powerful scale and distribution network, we are proud to make our existing ETF strategies available for more investors in Canada by launching the BMO ARK ETFs. We believe innovation is key to growth in a portfolio. According to our research, the global economy is undergoing one of the largest technological transformations in history, displacing industry incumbents and creating new leaders, enablers, and beneficiaries of disruptive innovation. We strive to give all investors access to these exponential opportunities.”
Kevin Gopaul, President, ETFs, BMO Global Asset Management, added: “We are excited to be partnering with ARK to offer the BMO ARK ETFs to help investors build better and stronger portfolios that are well positioned for growth. Based on the strength and expertise of the ARK team, these three new BMO ARK ETFs are well positioned to benefit from important long-term trends in the market.”