If you’re nervous about the market, don’t turn to drinking, turn to drinkers.

That is the idea behind a newly launched exchange-traded fund that tracks the whiskey-and-spirits sector, a niche within the consumer discretionary space that has been seeing spirited growth. Whiskey, the fund’s managers argue, sees demand in good economic times—when people are celebrating—or bad—when they’re drowning losses.

The Spirited Funds/ETFMG Whiskey and Spirits exchange-traded fund US:WSKY, which made its debut on Wednesday, is primarily composed of companies that earn the majority of their revenue from making or marketing whiskey and other spirits, though it also includes names that derive a smaller portion of their revenue from the industry. The holdings are international, and include Brown-Forman Corp. BF.B, +0.40% —the maker of Jack Daniel's, among other brands—as well as France’s Pernod Ricard SA RI, +1.25% and Japan’s Kirin Holdings Co. 2503, -0.85%

The fund’s first day of trading was muted, with under 2,000 shares exchanging hands. It rose 0.1% to $24.96.

“We think we’re early on in a supercycle that could last 40 years, or at least 25 if you want to be conservative,” David Bolton, president and chief executive officer of Spirited Funds, said of the whiskey-and-spirits industry. “Even our most bearish analysts, who were drinking whiskey when they last drafted their commentary on the market, are optimistic.”

Bolton cited data from the Distilled Spirits Council of the U.S., which put total U.S. spirit sales at $72 billion in 2015, including exports, and calculated that U.S. revenue for “superpremium bourbon and Tennessee whiskey brands” grew 155% between 2010 and 2015. The “high end premium” category saw revenue growth of 50% over that period.

According to the Distilled Spirits Council’s 2015 report, which was released in February, annual revenue for spirits suppliers have risen every year since 2005. The only exception came in 2009, during the worst of the post-Financial Crisis recession, when revenue was flat at $18.7 billion.

“You see a shift in the brand or quality of product that consumers purchase in down markets, but people eat and drink whether the market goes up or down, and some studies show they drink more when markets fall,” Bolton said.

Since the start of 2009 as the market emerged from the financial crisis, Brown-Forman shares are up more than 180%, while Pernod Ricard has gained about 112%. The S&P 500 SPX, +1.05% is up 137% over that same period. So, it’s not clear if the ETF will be able to beat the S&P over the long term, but it may be fun for investors to try.

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