A startup launched in the wake of pushback against rules mandating environmental, social and governance investing has rolled out an exchange-traded fund proudly promoting fossil fuel investments, according to news reports.

Strive Asset Management’s first ETF, the Strive U.S. Energy ETF, started trading last week, tracking a subset of Solactive GBS United States 1000 Index — with Exxon Mobil, its largest holding, accounting for more than a fifth of the fund’s assets, FA-IQ sister publication Ignites writes, citing the fund’s website.

Other major holdings include Chevron, Conoco Phillips and EOG Resources, an energy firm focused on hydrocarbon exploration, according to the publication.

The fund, which has an expense ratio of 41 basis points, debuted with around $1 million in assets, Ignites writes, citing the website.

Strive — launched this spring and backed by Peter Thiel and Bill Ackman — says the aim of its ETF is to “unlock the value of the U.S. energy sector by mandating companies to focus on profits over politics,” the fund’s website says, according to the publication.

To that end, the fund will eschew “short-sighted political agendas that have caused companies to underinvest in American oil, natural gas and other promising forms of energy,” the company said, according to Ignites.

“The largest U.S. asset managers have shackled U.S. energy companies with so-called ‘Scope 3 emissions caps’ and other destructive mandates that contributed to the American energy crisis today,” said Vivek Ramaswamy, executive chairman and co-founder of Strive Asset Management, in a statement cited by the publication. “The right answer isn’t to complain about it, but to solve the problem.”

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