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Select up to 4 funds for institutional 10-axis comparison, fee drag, and holdings overlap
10 Quantitative Fund Axes · Substitute vs. Diversifier Classifier · |A ∩ B| Shared Index Holdings
Holistic investor holding friction: Net Expense Ratio (Annual) + 30-Day Median Bid-Ask Spread (Amortized)
Cumulative wealth lost to expense drag assuming $10,000 invested at 8.0% annualized gross growth
| Horizon | Hypothetical Gross ($) | ARKK75 bps |
|---|---|---|
| 1 Year | $10,800.00 | $10,725.00 -$75.00 drag |
| 3 Years | $12,597.12 | $12,336.50 -$260.62 drag |
| 5 Years | $14,693.28 | $14,190.13 -$503.15 drag |
| 10 Years | $21,589.25 | $20,135.99 -$1453.26 drag |
Comprehensive institutional factor alignment across pilot universe
| Quantitative Axis | ARKKARK Innovation ETF |
|---|---|
| 1. Official Benchmark Index | Broad Disruptive Innovation Index |
| 2. Style Box & Legal Structure | Mid-Cap Growth / ThematicETF |
| 3. Net Expense Ratio & 1Y True TCO | 0.75% (75 bps) TCO (1Y): 77 bps |
| 4. 10Y Compounded Fee Drag ($10K) | -$1453.26 |
| 5. Total Fund AUM Scale & $ Volume | $5.8B $0.7B / day |
| 6. Holdings Breadth | 34 securities |
| 7. Top 10 Concentration % | 62.4% |
| 8. Total Returns (1Y / 3Y / 5Y) | +22.4% / +-18.2% / +-4.5% |
| 9. Distribution Yield & Annual Amount | $0.00/sh (0.00%) annual |
| 10. Tracking Volatility (Beta to S&P 500) | 1.00 |
11. 30-Day Median Bid-Ask Spread SEC Form N-CEN Item C.21 NBBO Spread:Median rolling 30-day transaction friction between national best bid and offer (NBBO). Measures liquidity cost incurred upon capital entry and exit. | 2.0 bps (0.02%) |
12. True TCO (1Y / 3Y / 5Y Horizon) True Total Cost of Ownership (TCO):Combines ongoing Net Expense Ratio with amortized trading spread:TCO(H) = Expense + (Spread / H)SPY excels for tactical turnover ($H=1$), while VOO dominates multi-year compounding ($H=5$). | 77 / 75.67 / 75.4 bps |