When the ETF Industry Exposure & Financial Services ETF (TETF) launched in April 2017 it seemed like a “why-hasn’t-this-been-done-before” kind of product; namely, an ETF that tracks the fast-growing ETF industry.

The idea sounded great on paper but it evidently didn’t pan out in real life as the fund underwhelmed both in terms of asset gathering and performance. As such, the fund’s investment advisor, Exchange Traded Concepts LLC, and the index provider, Toroso Investments LLC, announced in a filing with the Securities and Exchange Commission that the product’s last trading day will be June 18.

The fund holds 45 companies that play a role in the process of taking ETFs from conception to investible product, and the underlying index is constructed based on the depth of their involvement in the space. Roughly half of the index is allocated toward ETF sponsors, while the rest is composed of the other four parts of the ETF ecosystem: liquidity providers; index and data providers; back office support and the exchanges.

TETF has garnered just $6.3 million in assets. While the fund’s 12.9 percent year-to-date return is slightly better than the returns on leading financial services ETFs such as the Financial Select Sector SPDR Fund (XLF) and Vanguard Financials ETF (VFH), along with the SPDR S&P 500 ETF (SPY), it has trailed all of them by a significant amount during the past year.

And since its inception, TETF’s total share price return of 19 percent has lagged the SPY fund’s 23.7 percent return during that time.

Part of the problem is that the stocks of many asset managers that sponsor ETFs have done poorly of late as fee pressure within the industry has spooked investors who no doubt like the lower expense ratios on their funds but don’t like what those lower fees mean to the bottom line of these companies.

Mike Venuto, co-founder and chief investment officer at Toroso Investments, couldn’t be reached for comment. But in an interview last summer, he noted that he was proud of the index that his firm created but disappointed with TETF’s asset growth. He said the fund faced a couple of problems. First, people didn’t view the ETF industry per se as an investible theme. Second, many investors thought the product is an ETF of all of the ETFs.

“That comes up over and over again,” he said. “I’m like, ‘No, it’s all of the companies that are making money off of this.’”