From floods in Kentucky to fires in California to hurricanes in Texas, there's never a shortage of natural disasters wreaking havoc on our country.

Over the past 42 years, the US government has spent $2.2 trillion in total to support the relief efforts of natural disasters. However, due to the economic toll that disasters take on the regions affected, that amount is likely far too little. And rather than just spending in response to weather-related events that have already happened, there is a more focused effort on proactive spending, to ensure power and resources are available in the case of a future disaster. In May, the White House issued a statement that it could spend an additional $25 billion to $128 billion each year on Federally-funded relief efforts that would minimize the disruption to the population and the economy.

Anyone who's been through a FEMA-declared disaster area knows how serious these problems can be. There needs to be support for the companies who are there to help.

Yet interestingly, there has never been a way to invest in a basket of these disaster-relief companies. Shouldn't there be a fund that supports these businesses?

Now, there is. In today's 7investing podcast, 7investing CEO Simon Erickson chats with Andrew Chanin, the co-founder and CEO of Procure Asset Management. Procure AM has created the Disaster Recovery Strategy ETF. With ticker "FEMA", it is the world's first disaster-relief themed ETF.

In the conversation, Andrew describes what led him to create the fund and how it is different than existing climate change funds. He looks for companies under contract with government organizations.

Publicly-traded companies mentioned in this interview include Clean Harbors, Generac Holdings, Home Depot, Lowe's, Maxar and Tetra Tech. 7investing’s advisors or its guests may have positions in the companies mentioned.

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