The UBS ETF MSCI World Select Factor Mix UCITS ETF (WOFM) was listed on exchanges across Europe including the London Stock Exchange, SIX Exchange, Xetra and Borsa Italiana with a total expense ratio (TER) of 0.46%.
However, WOFM only managed to capture $32m assets since launching on 27 June 2018.
UBS AM said in a statement: "Due to the low level of demand, and after careful consideration, UBS AM has decided to close the fund."
WOFM tracked the MSCI World Select Factor Mix index, offering investors exposure to six factors; momentum, value, quality, shareholder yield, volatility and size.
Earlier this year, Morningstar predicted there would be a spike in smart beta product closures as the market becomes more mature. Last year, there were just 132 smart beta ETP launches, down from 257 in 2017.
Smart beta ETPs did see inflows of $87bn in 2018, however, an organic growth rate of 11% and a sign there is still demand for these types of strategies.