First Trust Files for 2 New ETFs

First Trust, the eleventh-largest U.S. ETF issuer, has filed plans with the U.S. Securities and Exchange Commission to possibly introduce two new ETFs. The Illinois-based fund sponsor has filed plans for the First Trust Enhanced High Income ETF. That fund would track U.S. equities with a tilt dividend payers as well as write (or sell) call options on the S&P 500 to generate additional monthly income. S&P 500 calls to be sold would be out-of-the-money at various expiration dates, according to the filing. First Trust has also filed plans for the First Trust Enhanced Low Beta Income ETF. That ETF will also primarily track U.S. dividend payers and will also sell S&P 500 call option to provide additional income. Neither filing included tickers or expense ratios. First Trust introduced 13 new ETFs in 2012 including the First Trust North American Energy Infrastructure Fund EMLP, the First Trust NASDAQ Technology Dividend Index Fund TDIV and the First Trust Multi-Asset Dividen Income Index Fund MDIV. For more on ETFs, click here.