What happens if I buy ‘late’?​

If investors buy an ARK Defined Innovation Exposure Term (DIET) ETF after the 12-month outcome period has already started, their investment experience will be different from someone who got in at the beginning.

That’s because: 

• The buffer and cap were set based on the price and volatility at launch.
• If the underlying holding, ARKK – the ARK Innovation ETF, has already gone up or down, some of that buffer or upside may already be used up.
• Investors' potential return path is now altered based on how much time is left and how the underlying ETF has moved. 

ARK helps manage this by offering quarterly launches (ARKD, ARKI, ARKE, ARKT), so investors can access new defined outcome periods more frequently. 

Still, buying late means: 

• Investors need to evaluate the current performance carefully.
• Investors won’t get the full original buffer or upside structure.
• It’s important to check the fund’s current status before buying mid-period.