What is ARKY and what does it do?

ARKY is the ARK Active Autocallable Income ETF, an actively managed ETF designed to generate high monthly income. It does this by building a diversified portfolio of autocallables that reference individual stocks from ARK's innovation universe. Each autocallable pays a regular coupon as long as the underlying stock stays above a defined level, called a barrier. The result is delivered through a daily-liquid ETF structure with no minimums, no lock-ups, and simple 1099 tax reporting.