In what will likely be remembered as another ETF too gimmicky to survive, ProShares announced that it will be launching the ProShares Pet Care ETF in a recent SEC filing.In the filing, it says the fund's index, the FactSet Pet Care Index, consists of U.S. and international companies that potentially stand to benefit from interest in, and resources spent on, pet ownership. Such companies typically generate more than 50% of their respective revenues from the following industries: Pet Food Manufacturing, Pet Supplies Manufacturing, Pet and Pet Supply Stores, Veterinary Pharmaceuticals, Veterinary Diagnostics, Veterinary Product Distributors and Veterinary Services. The Index is equal-weighted and rebalanced on a monthly basis. As of April 30, 2018, there are 22 companies in the Index.It notes that "ProShares believes that investing in companies with a focus on the pet care industry may be beneficial as the pet care industry has historically seen steady growth and has been resilient to economic downturns."I get that consumers are spending more and more on their four-legged friends, whether it's on organic dog foods or doggy day spas or some other high-end product. But is there a demand for an ETF like this? We've seen similar niche products fail (the Restaurant ETF) or struggle (the Whiskey & Spirits ETF) despite the claim that they perform well during market downturns. But I can't see investors willing invest in pet-focused products in large numbers. I think the notion behind this fund will probably get some investors to notice, but I anticipate an overall lack of investor interest.