Exchange traded fund (ETF) provider FocusShares apparently subscribes to the adage “If at first you don’t succeed, try, try again,” while Charles Schwab has filed for its first-ever ETF.

Last October, the provider opted to close its four ETFs focused on unusual segments of the market, including homeland security, Wal-Mart suppliers and so-called “sin” industries: tobacco, alcohol and gaming. They appear to be undeterred, and have filed with the Securities and Exchange Commission (SEC) for a line of target-date ETFs, says Heather Bell for Index Universe.

While FocusShares wouldn’t be a first-mover in the target-date area for ETFs, it’s still a relatively new space for the funds. Right now, there are two target-date ETF providers: iShares and XShares.

The six new funds would be:

  • Progressive Principal Protection 2015 Target Date Index
  • Progressive Principal Protection 2020 Target Date Index
  • Progressive Principal Protection 2025 Target Date Index
  • Progressive Principal Protection 2030 Target Date Index
  • Progressive Principal Protection 2035 Target Date Index
  • Progressive Principal Protection 2040 Target Date Index

They’ll track indexes from Mergent Inc.’s Indxis subsidiary. The underlying indexes will consist of U.S. Government STRIPS and equities, with weights varying according to the target date of each fund. Target-date ETFs adjust to be more conservative in their allocation as their date approaches.

Another financial industry player is gearing up to enter the ETF market place, too: Charles Schwab & Co. The company filed with the SEC for a fund that would track the Dow Jones U.S. Total Stock Market Index, which covers all publicly traded U.S. stocks with pricing information, Heather Bell for Index Universe reports.

Schwab has more than $1 trillion in client assets and about $24 billion in market capitalization.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.