An ETF Purrs at the Pet-Care Trend

Sometimes investment ideas burst into fund managers’ minds, and other times they quietly scratch on the door until they are noticed.

Ten-month-old ProShares Pet Care ETF (PAWZ) was more the latter, says Simeon Hyman, head of investment strategy at Bethesda, Md.-based ProShares. The fund is a play on the pet-care business, which, quite without glamour, is a $130 billion industry that is growing faster than the general economy. It’s up about 18% this year, with $46.5 million in assets under management, without any help from…

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