MOON vs. ARKK

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Moonshot Innovators ETF (MOON) and ARK Innovation ETF (ARKK).

MOON and ARKK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MOON is a passively managed fund by Direxion that tracks the performance of the S&P Kensho Moonshots Index. It was launched on Nov 12, 2020. ARKK is an actively managed fund by ARK. It was launched on Oct 31, 2014.

Performance

MOON vs. ARKK - Performance Comparison

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

MOON vs. ARKK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	-8.56%	9.85%	-61.07%	-13.78%	24.70%
ARKK ARK Innovation ETF	-11.08%	35.49%	8.40%	69.04%	-66.97%	-23.60%	27.90%

Returns By Period

MOON

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARKK

• 1D: 1.20%
• 1M: -7.84%
• YTD: -11.08%
• 6M: -21.31%
• 1Y: 43.10%
• 3Y*: 19.58%
• 5Y*: -10.51%
• 10Y*: 14.48%

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

MOON vs. ARKK - Expense Ratio Comparison

MOON has a 0.65% expense ratio, which is lower than ARKK's 0.75% expense ratio.

ARKK

ARK Innovation ETF

MOON

Direxion Moonshot Innovators ETF

Return for Risk

MOON vs. ARKK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKK

ARKK Risk / Return Rank: 51
ARKK Sharpe Ratio Rank: 55
ARKK Sortino Ratio Rank: 63
ARKK Omega Ratio Rank: 49
ARKK Calmar Ratio Rank: 52
ARKK Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MOON vs. ARKK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Moonshot Innovators ETF (MOON) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MOON	ARKK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.02	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.32	—

Correlation

The correlation between MOON and ARKK is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MOON vs. ARKK - Dividend Comparison

Neither MOON nor ARKK has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Drawdowns

Drawdown Indicators

	MOON	ARKK	Difference
Max Drawdown Largest peak-to-trough decline	—	-80.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-31.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.97%	—
Current Drawdown Current decline from peak	—	-55.71%	—
Average Drawdown Average peak-to-trough decline	—	-29.81%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.16%	—

Volatility

Volatility by Period

	MOON	ARKK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	42.55%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	46.38%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	40.11%	—