In this episode of ETF Spotlight, I talk with Kieran Kirwan, Senior Investment Strategist at ProShares. ProShares is well known for its dividend growth, alternative, geared and volatility ETFs.In November last year, they launched the ProShares Pet Care ETF PAWZ which is the first ETF focused on the booming pet care industry. “Seven out of 10 U.S. households today have pets, more than have children, and owners are providing pets with premium foods, luxury services, state-of-the-art health care, insurance policies and more,” per ProShares.To start off, Kieran explains why ProShares decided to launch PAWZ.Rise in pet ownership is a global phenomenon. We talk about global growth trends. We also discuss the state of the pet care industry, which may continue to do well even if the economy weakens.PAWZ tracks the FactSet Pet Care Index, which consists of companies that provide broad exposure to potential growth within the pet care industry. These include companies from veterinary pharmaceuticals, pet and pet supply stores, veterinary diagnostics, pet supplies manufacturing, pet food manufacturing, veterinary product distributors and veterinary services industries.We discuss how constituents are selected and weighted in the index.We also look at some of the top holdings. Heska Corporation HSKA makes diagnostic and specialty products related to animal health. PetMed Express PETS provides prescription and non-prescription pet medications, health products and supplies for dogs and cats.Nestlé’s NSRGY’s subsidiary Purina Petcare produces and markets pet food, treats and litter. JM Smucker SJM recently acquired Rachel Ray’s Nutrish pet food.Finally, we discuss how investors should use these types of thematic strategies in their portfolio.Please visit proshares.com if you want to learn more about this ETF. Make sure to be on the lookout for the next edition of ETF Spotlight! If you have any comments or questions, please email podcast@zacks.com.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The J. M. Smucker Company (SJM): Free Stock Analysis Report Nestle SA (NSRGY): Free Stock Analysis Report Heska Corporation (HSKA): Free Stock Analysis Report PRO-SH PET CARE (PAWZ): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research