First Trust has filed for two new actively managed exchange traded funds (ETFs), joining a growing list of providers and would-be ETF providers in launching such funds.

After getting off to a slow start, providers are quickly getting into a fast-growing line to launch their own actively managed ETFs. Add First Trust to the list.

The ETFs are:

  • First Trust Developed International Markets AlphaDEX Fund
  • First Trust Emerging Markets AlphaDEX Fund

The Developed International Markets fund invests in mid- to large-cap companies in non-U.S. developed markets, which include Japan, Hong Kong, Western Europe, Canada, New Zealand and Australia, says Active ETFs in Focus on Seeking Alpha. The Emerging Markets fund invests in mid- to large-cap companies in emerging countries that are in the early phase of the industrialization cycle.

The Developed Markets fund starts off with an initial universe of 300 securities, while the Emerging Markets fund uses a narrower universe of 150 highest ranking securities.

First Trust recently filed for equity-based platinum and copper ETFs, and this is their first step toward active management in ETFs.

For more stories about new ETFs, visit our new ETFs category.

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.