CASH vs. ARKK

Last updated Aug 1, 2026

CASH (Pathward Financial, Inc.) is a stock, while ARKK (ARK Innovation ETF) is Technology Equities fund actively managed by ARK. Over the past 10 years, CASH returned 17.69%/yr vs 14.31%/yr for ARKK. Their 0.35 correlation means their historical movements had little consistent relationship.

Performance

CASH vs. ARKK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pathward Financial, Inc. (CASH) and ARK Innovation ETF (ARKK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CASH achieves a 24.43% return, which is significantly higher than ARKK's -7.38% return. Over the past 10 years, CASH has outperformed ARKK with an annualized return of 17.69%, while ARKK has yielded a comparatively lower 14.31% annualized return.

CASH

• 1D: 0.62%
• 1M: -0.54%
• 6M: -2.16%
• YTD: 24.43%
• 1Y: 18.28%
• 3Y*: 19.05%
• 5Y*: 12.57%
• 10Y*: 17.69%
• ALL TIME*: 12.63%

ARKK

• 1D: -2.28%
• 1M: -12.32%
• 6M: -4.85%
• YTD: -7.38%
• 1Y: 0.11%
• 3Y*: 13.25%
• 5Y*: -9.65%
• 10Y*: 14.31%
• ALL TIME*: 12.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARKK ARK Innovation ETF	$356.24M	$389.65M	$523.48M
CASH Pathward Financial, Inc.	$21.60M	$19.27M	$18.69M

CASH vs. ARKK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CASH Pathward Financial, Inc.	24.43%	-3.25%	39.47%	23.45%	-27.48%	63.82%	0.94%	89.68%	-36.81%	-9.39%
ARKK ARK Innovation ETF	-7.38%	35.49%	8.40%	69.04%	-66.97%	-23.60%	152.71%	35.08%	3.52%	87.33%

Correlation

The correlation between CASH and ARKK is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.36
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014	0.35

The correlation between CASH and ARKK shifts across timeframes, from 0.24 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CASH vs. ARKK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CASH

CASH Risk / Return Rank: 61
CASH Sharpe Ratio Rank: 65
CASH Sortino Ratio Rank: 57
CASH Omega Ratio Rank: 59
CASH Calmar Ratio Rank: 62
CASH Martin Ratio Rank: 63

ARKK

ARKK Risk / Return Rank: 9
ARKK Sharpe Ratio Rank: 9
ARKK Sortino Ratio Rank: 10
ARKK Omega Ratio Rank: 10
ARKK Calmar Ratio Rank: 8
ARKK Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CASH vs. ARKK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pathward Financial, Inc. (CASH) and ARK Innovation ETF (ARKK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CASH	ARKK	Difference
Sharpe ratio: Return per unit of total volatility	0.57	-0.15	+0.72
Sortino ratio: Return per unit of downside risk	0.93	0.05	+0.88
Omega ratio: Gain probability vs. loss probability	1.13	1.01	+0.13
Calmar ratio: Return relative to maximum drawdown	0.77	-0.17	+0.94
Martin ratio: Return relative to average drawdown	1.69	-0.35	+2.04

CASH vs. ARKK - Sharpe Ratio Comparison

The current CASH Sharpe Ratio is 0.57, which is higher than the ARKK Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of CASH and ARKK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CASH vs. ARKK - Drawdown Comparison

The maximum CASH drawdown since its inception was -83.66%, roughly equal to the maximum ARKK drawdown of -80.97%. Use the drawdown chart below to compare losses from any high point for CASH and ARKK.

Drawdown Indicators

	CASH	ARKK	Difference
Max Drawdown Largest peak-to-trough decline	-83.66%	-80.97%	-2.69%
Max Drawdown (1Y) Largest decline over 1 year	-22.21%	-31.35%	+9.14%
Max Drawdown (3Y) Largest decline over 3 years	-22.21%	-39.56%	+17.35%
Max Drawdown (5Y) Largest decline over 5 years	-50.84%	-76.27%	+25.43%
Max Drawdown (10Y) Largest decline over 10 years	-64.90%	-80.97%	+16.07%
Current Drawdown Current decline from peak	-11.64%	-53.87%	+42.23%
Average Drawdown Average peak-to-trough decline	-22.84%	-30.38%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.06%	15.57%	-5.51%

Volatility

CASH vs. ARKK - Volatility Comparison

Pathward Financial, Inc. (CASH) and ARK Innovation ETF (ARKK) have volatilities of 9.87% and 10.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CASH	ARKK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.87%	10.19%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	22.31%	27.72%	-5.41%
Volatility (1Y) Calculated over the trailing 1-year period	29.71%	36.83%	-7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.42%	46.55%	-13.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.36%	40.48%	+0.88%

Dividends

CASH vs. ARKK - Dividend Comparison

CASH's dividend yield for the trailing twelve months is around 0.23%, while ARKK has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKK ARK Innovation ETF	0.00%	0.00%	0.00%	0.70%	0.00%	0.55%	1.64%	0.38%	3.14%	1.32%	0.00%	2.27%
CASH Pathward Financial, Inc.	0.23%	0.28%	0.27%	0.38%	0.46%	0.34%	0.55%	0.55%	0.96%	0.56%	0.51%	1.13%

Frequently Asked Questions

Can I hold both CASH and ARKK in my portfolio?

CASH and ARKK have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CASH or ARKK?

ARKK has higher volatility (10.19%) compared to CASH (9.87%). In terms of maximum drawdown, CASH dropped -83.66% vs ARKK's -80.97%.

Which has better risk-adjusted returns?

CASH currently has the higher Sharpe Ratio (0.57 vs -0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.