The discussion moves to the ARK Innovation ETF (ARKK), which Geraci says is down almost 60% from its highs in February 2021. Later, Michael Natale, head of intermediary distribution at Northern Trust Asset Management, talks about hedging portfolios for inflation and FlexShares ETFs. While almost all stocks and bonds are down year-to-date, the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is up 12%, and the SPDR Gold Shares (GLD) is up 4% as of Monday, February 21.