The first ETF to provide targeted exposure to companies linked to the ETF industry is scheduled to close.

The funds last day of trading will be 18 June 2019.

The ETF Industry Exposure & Financial Services ETF (TETF US) will have its last day of trading on 18 June.

The fund was launched in April 2017 through a partnership between US-based asset manager Toroso Investments and white label ETF platform Exchange Traded Concepts.

It tracks the proprietary Toroso ETF Industry Index which provides exposure to US publicly traded companies that derive revenue from the ETF industry including ETF sponsors, index and data companies, trading and custody providers, liquidity providers, and exchanges.

The ETF delivered a strong return of 36.0% in its first year, significantly beating both the S&P 500 and the S&P Financial Select Sector Index (which represents the performance of the financial sector within the S&P 500), which returned 14.4% and 17.6%, respectively, over the same period.

But despite the fund’s strong start, it failed to gain a significant following and currently has assets under management of just $6 million.

Recently, performance has backtracked – the fund is down 3.1% over the past year to 30 April 2019 compared to a 13.5% gain for the S&P 500 – which is likely to have played a role in the decision to liquidate the ETF.