A new exchange traded fund debuted Thursday focusing on the theme of behavioral momentum as it pertains to investing.

The Aptus Behavioral Momentum ETF (BATS: BEMO) follows the Aptus Behavioral Momentum Index. That index “is designed to track the performance of 25 large US-traded equity securities. The proprietary index methodology developed by Aptus Captial Advisors quantitatively ranks large US companies based on a combination of momentum and irrational investor behavior and seeks to gain exposure to only the highest ranked stocks. The index has an added objective of capital protection during market downtrends, and is therefore risk managed in that it can vary between 100% long only exposure to stocks or 100% exposure to intermediate Treasury Bonds dependent on the overall market environment,” according to Aptus Capital Advisors.

Related: A new Momentum Bond ETF

BEMO is the first ETF from Alabama-based Aptus. Aptus is also the latest in a long line of issuers opting to list ETFs on the Bats ETF Marketplace.

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With Aptus in the fold, 11 providers currently list ETFs on the the Bats ETF Marketplace.

“Bats executed 24.5% of U.S. ETF trading in May and has been the #1 U.S. market for ETF trading and the #2 U.S. market for overall equities trading for every month of 2016,” according to a statement.

For more information on new fund products, visit our new ETFs category.