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Cathie Wood Has Billions in Tesla. ARKK Still Struggles With ESG

March 23, 2021, 12:14 PM

Ark Investment Management is known for its huge bet on the world’s hottest electric-car maker. But that hasn’t been enough to put Cathie Wood’s funds at the top of environmental, social and governance standards.

Her actively managed exchange-traded funds ranked below average in a recent study by Jefferies’ analysts Steven DeSanctis and Eric Lockenvitz. That’s even as Wood’s flagship $24 billion Ark Innovation ETF has more than tripled in the past year -- boosted by its investments in Tesla Inc. Elon Musk’s company is ARKK’s biggest holding and currently comprises 10.5% of the fund, according to data compiled by ...