The fund still exists, but it's a failure. Many funds lost far less money than ARKK.

ARKK was levered bet on growth stocks, and buys them at high multiples. There's no risk management. Good funds manage risk well so that it's harder for them to be cleaned up by a black swan.

Granted many fund managers don't very do well either, but at least Burry had a much better track record: https://stockcircle.com/portfolio/cathie-wood/performance https://stockcircle.com/portfolio/michael-burry/performance