ARK Active Autocallable Income ETF

ARKY is an actively managed ETF that seeks to generate income through a portfolio of derivatives designed to replicate the economics of autocallable equity-linked notes (ELNs) referencing equities within ARK's disruptive innovation universe. The investment universe spans genomics, artificial intelligence, energy transformation, automation, next-generation internet, and blockchain and fintech innovation companies. Rather than investing directly in equities, the fund systematically harvests volatility premia the difference between implied and realized volatility of the reference securities and converts that volatility into income streams. Each synthetic ELN incorporates defined observation dates and barrier levels: a Coupon Barrier, a Strike Price call barrier, and a Maturity Barrier, determining whether periodic coupons are paid, the position terminates early, or the fund bears downside exposure at expiration.