Six Funds, One Ruler: ARK's Lineup Under the Blitz Index
ARK runs six active ETFs. We hold every one of them up to the same 100-point ruler — and the spread from top to bottom is 13.8 points. The interesting part is not the ranking. It is where each fund's average comes from.
Why line up the funds at all
The ARK Lens grades every holding we can score with the Blitz Index — speed (25), moat (60), creative destruction (15), minus BlitzFailing demerits of up to −30 — and rolls the results into a weight-averaged score per fund. A fund's holdings page goes live only once scored coverage reaches 50% of fund weight. Three funds clear that bar today (ARKK, ARKW, ARKF). Three do not yet (ARKQ, ARKX, ARKG), and appear on the Lens as summary cards only.
The question for this piece is descriptive: when one ruler is applied across a single manager's whole lineup, what shape does the result take?
The scoreboard
| Fund | Theme | Holdings | Scored | Coverage (of fund weight) | Weight-averaged score | 65+ Club |
|---|---|---|---|---|---|---|
| ARKF | Blockchain & Fintech | 39 | 19 | 62.9% | 65.7 | 8 |
| ARKW | Next Generation Technology | 41 | 24 | 68.1% | 65.3 | 10 |
| ARKQ* | Autonomous Tech & Robotics | 37 | 11 | 48.8% | 63.1 | 4 |
| ARKK | Innovation | 46 | 26 | 68.3% | 59.5 | 5 |
| ARKX* | Space & Defense | 33 | 9 | 37.7% | 61.4 | 4 |
| ARKG* | Genomic Revolution | 35 | 9 | 47.9% | 51.9 | 0 |
*Summary card only — scored coverage is below the 50% publication threshold, so the average describes less than half the fund.
Source: ARK Lens, holdings as of 11/04/2026. We re-derived the three published averages from the holdings tables (ARKK 59.55, ARKW 65.26, ARKF 65.66) and they match the Lens to one decimal.
Two funds sit above the line: ARKF (65.7) and ARKW (65.3).
Observation 1: the grade mix, not the average, is what separates the funds
Averages compress. The grade distribution of scored weight shows the difference more plainly.
| Fund | A (≥80) | B (60–79) | C (40–59) | D (<40) |
|---|---|---|---|---|
| ARKF | 4.9% | 83.1% | 12.0% | 0% |
| ARKW | 10.4% | 69.0% | 20.6% | 0% |
| ARKK | 5.6% | 49.0% | 45.3% | 0% |
Share of each fund's scored weight. The A-grade holdings in the published funds are NVIDIA (87) and Alphabet (83).
Two facts stand out. First, no published ARK fund holds a D-grade company — the lowest scored holding anywhere is 10x Genomics at 40, the floor of grade C. Second, ARKK carries almost half its scored weight in C grades. ARKF carries an eighth.
Observation 2: ARKK's gap is one sleeve, not the whole fund
ARKK's 59.5 looks like a fund-wide verdict. It is mostly a health-care verdict. ARKK's genomics, diagnostics and therapeutics holdings account for 28.1% of the fund and 32.7% of its scored weight, with a weighted average of 51.8 and no holding above 61. Strip that sleeve out and the rest of ARKK averages 63.3 — within reach of ARKW.
That sleeve gets its own study in this series ("ARKK's Health Sleeve"). The point here is structural: the Lens average is a weighted mix of very different business types, and the mix explains more than any single holding.
Observation 3: the 65+ Club is a weight story
| Fund | 65+ Club members | Their share of scored weight |
|---|---|---|
| ARKF | 8 | 47.5% |
| ARKW | 10 | 37.5% |
| ARKK | 5 (NVDA, META, SHOP, PLTR, GOOG) | 17.1% |
ARKW has the most members; ARKF gives them the most weight. ARKK's five members — NVIDIA, Meta, Shopify, Palantir and Alphabet — sum to 11.7% of the fund, just more than its single largest holding, Tesla (11.3%, scored 62).
Observation 4: sizing barely moves the average
If position size tracked business quality, the weight-averaged score would sit well above the equal-weighted one. It does not.
| Fund | Equal-weighted | Weight-averaged | Difference |
|---|---|---|---|
| ARKK | 59.8 | 59.5 | −0.3 |
| ARKW | 65.2 | 65.3 | +0.1 |
| ARKF | 65.4 | 65.7 | +0.3 |
The companion piece "Does ARK Size by Quality?" tests this directly. The short version: inside each fund, weight and score are essentially uncorrelated — which is what you would expect if the manager sizes on something the score deliberately ignores, such as price.
Observation 5: the three unpublished funds
ARKQ (63.1), ARKX (61.4) and ARKG (51.9) are reported here only as summary statistics, because fewer than half of their weight is scored. Two readings are still safe:
- ARKG has zero holdings in the 65+ Club, the only ARK fund with none. It is consistent with what the health sleeve shows inside ARKK.
- ARKX has the thinnest coverage (37.7%). Its average describes just over a third of the fund, so it should not be compared with the published funds as if it were complete.
Each fund's holdings page publishes automatically once coverage reaches 50%.
The boundary
A fund average is not a grade for the fund and not a grade for ARK. It is the weighted mean of business-quality scores for the holdings we can measure, and it excludes, by construction, gate failures, private positions, fund positions and holdings we have not yet scored (see "What the Lens Can't See"). It says nothing about price: our pre-registered tests found that the score does not time returns, and that entry price governs them. A fund with a lower average may own businesses the market has priced cheaply; a fund with a higher average may own them at any price.
ARK makes concentrated bets on disruptive innovation, and we respect the challenge. This scoreboard is curiosity, not criticism.
BlitzLab scores businesses against a scholar's standard — not investment advice. No price targets, no buy/sell recommendations. Holdings come from ARK Invest's daily public disclosures; BlitzLab is not affiliated with ARK Invest and this research is not endorsed by them. Figures are a snapshot of holdings as of 11/04/2026 and change daily.
Sources
- BlitzLab, "ARK's Holdings, Graded." (ARK Lens summary) — https://blitzlab.app/ark/ — holdings as of 11/04/2026 — checked 2026-11-05
- BlitzLab, "ARKK's Holdings, Graded." — https://blitzlab.app/ark/arkk/ — 11/04/2026 — checked 2026-11-05
- BlitzLab, "ARKW's Holdings, Graded." — https://blitzlab.app/ark/arkw/ — 11/04/2026 — checked 2026-11-05
- BlitzLab, "ARKF's Holdings, Graded." — https://blitzlab.app/ark/arkf/ — 11/04/2026 — checked 2026-11-05
- BlitzLab, "About BlitzLab — How the Blitz Index Works" — https://blitzlab.app/about/ — checked 2026-11-05
- BlitzLab, "What the Blitz Index Measures — and What It Doesn't" — https://blitzlab.app/research/synthesis — 2026-10-15 — checked 2026-11-05