ETF Evaluator:
Tradr 1X Short Innovation Daily ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Trading--Inverse Equity Over the Last Year
| 204.3% | T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) |
| 169.7% | Defiance Daily Target 2X Short MSTR ETF (SMST) |
| 53.1% | Direxion Daily NFLX Bear 1X Shares (NFXS) |
| 39.2% | -1x Short VIX Futures ETF (SVIX) |
| 39.1% | GraniteShares 2x Short COIN Daily ETF (CONI) |
Risk
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Risk
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ETF Details
Tradr 1X Short Innovation Daily ETF Overview
Tradr 1X Short Innovation Daily ETF (SARK) is an actively managed Miscellaneous Trading--Inverse Equity exchange-traded fund (ETF). AXS launched the ETF in 2021.
The investment seeks to provide daily investment results, before fees and expenses, of the inverse (-100%) of the daily performance of the ARK Innovation ETF.
The fund is an actively managed exchange traded fund that attempts to achieve the inverse (-100) of the return of the ARK Innovation ETF for a single trading day (and not for any other period) by entering into one or more swaps on the ARK Innovation ETF. It is non-diversified.
About Tradr 1X Short Innovation Daily ETF (SARK)
There are 2 members of the management team with an average tenure of 3.83 years: Travis Trampe (2022) and Parker Binion (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and ARK Innovation ETF TR USD index with a weighting of -100%. Tradr 1X Short Innovation Daily ETF has 9 securities in its portfolio. The top 10 holdings constitute 203.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Tradr 1X Short Innovation Daily ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Tradr 1X Short Innovation Daily ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 8.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Tradr 1X Short Innovation Daily ETF has 92.0% of the portfolio in cash.
Assets Under Management
The fund has $46 million in total assets, which is below the $75 million average for the Trading--Inverse Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SARK Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Tradr 1X Short Innovation Daily ETF expense ratio is high compared to funds in the Trading--Inverse Equity category. Tradr 1X Short Innovation Daily ETF has an expense ratio of 0.99%, which is 14% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Tradr 1X Short Innovation Daily ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 1085% for the Trading--Inverse Equity category.
Recently, in the month of July 2026, Tradr 1X Short Innovation Daily ETF returned 12.4%, which earned it a grade of B, as the Trading--Inverse Equity category had an average return of 7.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Tradr 1X Short Innovation Daily ETF has a trailing yield of 2.81%, which is below the 5.32% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Tradr 1X Short Innovation Daily ETF Grades
Year to date, the ETF has returned 0.3%, 26.1 percentage points better than the category, which translates into a grade of A. The fund has returned -6.1% over the past year (grade of A) and -24.1% over the past three years (grade of C).
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SARK Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SARK Return (NAV) | 12.4% | 3.6% | -6.1% | -24.1% | na | na |
| SARK Return (Price) | 12.4% | 3.9% | -6.0% | -24.1% | na | na |
| NAV +/- Price Return | -0.019% | -0.249% | -0.170% | -0.002% | na | na |
| Trading--Inverse Equity Avg | 7.3% | -12.0% | -29.4% | -28.2% | -22.9% | -29.6% |
| SARK Grade (NAV) | B | A | A | C | na | na |
| +/- Category (NAV) | 5.1% | 15.6% | 23.3% | 4.1% | na | na |
| SARK Tax-Cost Ratio | na | na | 1.2% | 3.9% | na | na |
SARK Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SARK Return (NAV) | 0.3% | -26.0% | -37.0% | -46.3% | 82.2% | na | na | na | na | na | na |
| SARK Return (Price) | 0.2% | -26.0% | -36.9% | -46.2% | 82.0% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.445% | -0.001% | -0.002% | -0.001% | -0.003% | na | na | na | na | na | na |
| Trading--Inverse Equity Avg | -25.8% | -35.3% | -26.4% | -26.2% | 15.2% | -33.5% | -52.3% | -39.8% | 9.5% | -34.8% | -33.2% |
| SARK Grade (NAV) | A | C | D | D | A | na | na | na | na | na | na |
| +/- Category | 26.1% | 9.3% | -10.6% | -20.0% | 67.0% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | -2.74 |
| R-Squared: | 56% |
| Standard Deviation: | 47.6% |
| Category Risk Index: | 1.23 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 3.88 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 2.8% |
| Total Assets: | $ 47 Mil |
| Share Class Assets: | $ 47 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.99% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Binion Parker (2022), Trampe Travis (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 203.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 8.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 92.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | AXS |
| Phone Number: | 303-623-2577 |
| Website: | |
| Inception Date: | November 5, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.99% (Rating: High) |
| Category Average Expense Ratio (%): | 1.15% |
