(Bloomberg) -- Ark Investment Management, which runs the two best performing exchange-traded funds over the last three years, is planning a new thematic ETF focused on technology for finance firms.

The product, the ARK Fintech Innovation ETF, will invest in companies working to change the way the financial sector operates, according to a regulatory filing. Ark already manages a similar strategy in Japan, where the firm acts as a sub-adviser to several Nikko Asset Management Co. mutual funds.

The concept is right in the sweet spot for the New York-based $2.3 billion ETF issuer, which has made a name for itself running funds focused on innovation, the internet and genomics. As actively managed funds, they contrast with most ETFs, which typically track an index. But gathering assets could be more difficult now than when Ark started those funds in 2014 as more competition has entered the fray. Sales of so-called thematic ETFs have boomed from new products from BlackRock Inc. and State Street Corp.

“There are a bunch of fintech ETFs now,” said Mohit Bajaj, director of exchange-traded funds at WallachBeth Capital. “It might be hard.” Success could boil down to the fund’s fee, he said.

The ETF plans to charge $7.50 for every $1,000 invested, the filing shows. That’s more than the $5.76 charged by the average thematic fund but in line with the issuer’s other offerings, data compiled by Bloomberg show.

The costs seem to be paying off for investors. On an annualized basis, the firm’s ARK Web x.O ETF has returned more than all other unleveraged ETFs over the last three years, gaining 34 percent, while the ARK Innovation ETF, the second-best performer, has added more than 30 percent.

To contact the reporters on this story: Rachel Evans in New York at revans43@bloomberg.net;Vildana Hajric in New York at vhajric1@bloomberg.net

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Eric J. Weiner, Joanna Ossinger

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