Cathie Wood's ARK Investment Management has experienced significant financial setbacks, with its actively managed exchange-traded funds losing investors a collective $14.3 billion over the past decade, marking the largest wealth destruction by any asset manager in that period. This year alone, investors have withdrawn a net $2.2 billion from these funds. The funds, which gained popularity by making bold bets on disruptive technologies like Tesla and Zoom, saw their biggest inflows around the peak of the innovation fund in February 2021, a timing that proved unfortunate for many investors.