A small Virginia-based entrant to the exchange-traded fund market has raised eyebrows among industry veterans as it attempts to answer one of the most pressing questions for investors: how do you protect your money from the fallout of a trade war?

Investors have honed in on companies thought to be hardest hit by disputes over trade, as tensions between the US and China escalated last month and Washington opened up new lines of attack on Mexico and India last week. Semiconductor groups have suffered in particular, along with car companies, as their shares have lagged broader indices around the world.

MCAM International of Charlottesville is offering another way to play the tense environment, launching its debut ETF on Wednesday under the ticker “TWAR”. The new product aims to track an index of 120 companies selected for their ability to outperform competitors during an international trade war as a result of their “government patronage”, which could include state contracts or subsidies, according to regulatory filings.