Exchange Traded Concepts, a boutique exchange traded fund provider, partnered with Toroso Investments to launch the first ETF that focuses on companies and fund providers directly participating in the growth of the ETF industry.

ETC and Toroso Investments recently rolled out the ETF Industry Exposure & Financial Services ETF (NYSEArca: TETF). TETF has a 0.64% expense ratio.

“We have deep roots in the ETF ecosystem and have created an Index that captures the dynamism of ETFs and the disruptive innovation they have brought to the financial services industry,” Mike Venuto, CIO of Toroso Investments, said in a note.

It is no big secret that the ETF industry itself is growing as investor interest increases for the cheap, cost-efficient and accessible ETF investment vehicle. As the ETF’s continue to attract huge inflows, the fund providers and financial companies that have launched these ETFs have also reaped the rewards.

Through TETF, investors can also gain broad exposure to those fund sponsors that have benefited from the huge growth in ETFs. Over the past five years, assets have grown to $2.7 trillion from $1.2 trillion, and the number of ETF sponsors increased from 45 to 78. Additionally, the average ownership of U.S. equities by ETFs has more than tripled.

TETF tries to reflect the performance of the Toroso ETF Industry Index, which tracks publicly-traded companies that directly or indirectly provide services or support to ETFs, including management, servicing, trading or sales of ETFs.

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