After years of penny pinching that includes taking away former freebies such as checked luggage and meals, the airline industry doesn’t induce warm fuzzies among the flying public. But such penny pinching, along with other factors, have helped create a golden era of profitability for the airlines, and investment advisor U.S. Global Investors hopes to cash in with today’s launch of the U.S. Global Jets ETF (JETS).

The exchange-traded fund tracks the U.S. Global Jets Index comprised of global companies in the commercial airline, aircraft manufacturing, and airport and terminal services industries.

The ETF will be dominated by the top four U.S. domestic airlines based on market capitalization and load factor, with each slated to receive a portfolio weight of 12 percent after the fund’s quarterly rebalancing.

Currently, the underlying index’s top four spots comprise Delta Airlines (12.27 percent); American Airlines Group (11.34 percent); Southwest Airlines (11.32 percent) and United Continental Holdings (10.90 percent).

Domestic holdings will comprise about 80 percent of the fund, which will hold between 30 and 35 companies. Airline carriers will make up most of the constituents, along with a smattering of aviation-related companies including Boeing and General Dynamics.

The fund’s expense ratio is 0.60 percent.

The airline industry is notorious for its volatility and was close to crashing in the years after 9/11. According to fund literature for the U.S. Global Jets ETF, roughly 70 percent of U.S. carriers operated under Chapter 11 bankruptcy protection between 2005 and 2008.

But thanks to restructuring and mergers, cost cutting, new revenue sources (i.e., those hated baggage fees) and the recent dramatic drop in fuel prices, the airline industry has—pardon the obvious pun—soared.

The NYSE Arca Airline Index jumped 51 percent last year, though it’s down nearly 2.5 percent year-to-date. Which makes one wonder whether the fund is hitting the scene just as the party for airlines is about to end, particularly considering that fuel prices likely have more upside than downside potential at this point in the cycle. Airlines hedge their fuel costs, but that’s not always a panacea.

And an airline-centric fund might be too narrowly focused for investors. Two prior airline sector-related ETFs—the Direxion Airline Shares ETF and Guggenheim Arca Airline ETF—closed shop in 2011 and 2013, respectively, due to lack of interest.

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