First Trust, the ninth-largest U.S. exchange traded funds issuer, expects to introduce two new ETFs on Wednesday. Both funds will trade on the NASDAQ Stock Market.

The new ETFs are the First Trust RBA American Industrial Renaissance ETF (NasdaqGM: AIRR) and the First Trust RBA Quality Income ETF (NasdaqGM: QINC).  Both funds track indexes developed by Richard Bernstein Advisors.

The First Trust RBA American Industrial Renaissance ETF will track the Richard Bernstein Advisors American Industrial Renaissance Index, which is comprised of mid- and small-cap industrial and community bank stocks.

“RBA believes there are increasing reasons to expect that the United States may regain industrial market share, based on a number of factors, including: access to cheap energy sources; the relative stability of the U.S. market compared to many emerging markets; and growing availability of bank financing for manufacturers,” according to a First Trust Statement.

“Smaller U.S. banks generally have strengthening balance sheets and continue to aid U.S. capital formation. Admittedly, traditional banking typically has lower profitability ratios, but smaller U.S. banks do not need massive trading infrastructures and unnecessary global risk-taking to be profitable,” according to First Trust.

First Trust has an ETF focused on mid- and small-cap banks, the First Trust NASDAQ ABA Community Bank Index Fund (NasdaqGM: QABA), which is up more than 30% in the past year. [Community Bank ETF Looks Strong]

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