The ARK DIET Q1 Buffer ETF (ARKD) is an actively managed fund designed to offer a modified return experience compared to the ARK Innovation ETF (ARKK). Each January, ARKD initiates a new annual cycle with the objective of mitigating ARKK's potential losses by roughly 50%. In exchange for this downside protection, ARKD's potential gains are capped once ARKK's performance exceeds a 5% threshold.