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ARK DIET
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ARK ETFs
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ARK DIET
Fund Documents
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How To Invest

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ARK DIET

Fund Overview

What are the ARK DIET ETFs?
How do, or don’t, the different quarterly products fit together in a portfolio?
How does ARK DIET differ from ARK’s other ETFs?
Why did you select ARKK for a defined innovation ETF? Will you consider doing a defined innovation ETF for the other ETFs like ARKW or ARKG, for example?
Why is a buffered product with an actively managed reference fund potentially attractive?
Where are ARK’s Defined Innovation Exposure Term ETFs (ARK DIET) products available?
Why did ARK partner with Milliman on the ARK DIET products?
Who is Milliman?
Can I swap my ARKK for a buffered ETF product without a taxable event?
Will my investment receive dividends or distributions?
What happens after the one-year term is up? Are my funds liquidated, or do I have to reinvest?
How does a buffered ETF fit within your ETF portfolio? Is it either/or?
When is the best time to buy?
What happens if I buy ‘late’?
What happens if I sell ‘early’?
Was ARKD used as another ARK ETF in the past?
Is ARKI another ARK ETF?

Fund Structure

If I own an ARK ETF, should I still consider an allocation to the buffered ETF, or is it an either/or?
How does ARK’s defined outcome/buffer ETFs differ from competitors?
Why should I consider a buffered ETF instead of a structured note or other hedging strategies?
How does a buffered ETF work?
What is the target hold period? Should I hold longer than one year?
What are some common misconceptions about buffered ETFs like ARK DIET?
Can I see what the defined outcomes will be?
What happens if I buy a buffered ETF when the reference asset is up, but has not cleared the hurdle (0-5% for ARK DIET)?
What happens if I buy when the fund is down?
What happens if I buy when the fund has already cleared the “hurdle” (the reference asset is up >5%)?
Is there an upside limit to returns (cap)?
Are there guaranteed returns?

Fund Education

What does “defined outcome” mean?
What is a buffered ETF?
How does a buffered ETF fit within a traditional portfolio?
What does it mean to “re-strike the structure”?
Can I see what’s in the buffered ETF?
What is an options contract?
What does it mean to rebalance a buffered ETF?
How do buffered ETFs rebalance?
How liquid is a buffered product?
What is a reference fund?
What is a reference price?
What does my expense fee cover?
What does “estimated upside market participate rate” mean?
What is an index or reference period return?
What is a period return?
What are the tax implications of a buffered product?
How are fees paid?
What is a “cap”?
How does a buffered product work in an up market?
How does a buffered product work in a down market?
What is a delta-one position?
What are options and how do they work?
What is a put option?
What is a call option?
What are “FLEX options”?

ARK Investment Management LLC is the investment adviser to the ARK Funds. Foreside Fund Services, LLC, distributor. © 2025

Important Risk Information For ARK DIET

Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ARK DIET ETF before investing. This and other information are contained in the ARK DIET ETF’s prospectus, which may be obtained by on ark-funds.com. The prospectus should be read carefully before investing. An investment in an ARK Fund is subject to risks and you can lose money on your investment in an ARK Fund. There can be no assurance that the ARK Funds will achieve their investment objectives. The ARK Fund’s portfolios are more volatile than broad market averages. The ARK Funds also have specific risks, which are described in the ARK Fund’s prospectuses. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.

Below are the primary risks associated with investing in the ARK DIET Buffer ETFs. For additional risk and other information please read the prospectus which can be found on the ARK DIET Buffer ETF web page here.

Limited Loss Risk. There is no guarantee that the Fund will be successful in its strategy to limit the Fund's exposure to losses in the Underlying ETF’s share price to no more than 50% of the Fund’s NAV during the Outcome Period. In the event an investor purchases shares after the commencement of the Outcome Period or redeems shares prior to the end of the Outcome Period, the investor may not fully participate in the share price gains of the Underlying ETF beyond the Hurdle to which the Fund seeks to provide exposure. Derivatives Risk. Derivatives involve risks different from, and, in certain cases, greater than, the risks presented by more traditional investments. These include credit risk, liquidity risk, management risk and leverage risk. Derivative products are highly specialized instruments that require an understanding not only of the underlying instrument but also of the derivative itself, without the benefit of observing the performance of the derivative under all possible market conditions. The failure of another party to a derivative to comply with the terms may cause the Fund to incur a loss. Adverse changes in the value or level of the underlying asset, rate or index can result in a loss substantially greater than the amount invested in the derivative itself. Option Writing Risk. The Fund invests in options that derive their performance from the performance of the Underlying ETF. Writing and buying options are speculative activities and entail investment exposures that are greater than their cost would suggest, meaning that a small investment in an option could have a substantial impact on the performance of the Fund. The Fund’s use of options, due to the cost of the options, will reduce the Fund’s ability to get returns equal to the Underlying ETF. FLEX Options Risk. The Fund utilizes FLEX Options guaranteed for settlement by the OCC, and it bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts, which is a form of counterparty risk. Additionally, FLEX Options may be less liquid than certain other securities, such as standardized options. The Fund may experience substantial downside from certain FLEX Option positions, and FLEX Option positions may expire worthless. Liquidity Risk. The Fund may invest in securities or instruments that trade in lower volumes and may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. There is no guarantee that a liquid secondary trading market will exist for the listed and OTC options in which the Fund may invest. A less liquid trading market may adversely impact the value of the listed options and the value of your investment. Other Investment Companies Risk. In addition to investing in options, the Fund invests in the Underlying ETF, which is another investment company. Accordingly, shareholders will bear both their proportionate share of Fund expenses and, indirectly, the expenses of the Underlying ETF. Furthermore, the Fund is exposed to the risks to which the Underlying ETF may be subject.

Foreside Fund Services, LLC, distributor.