First Trust has just announced their filing with the SEC to launch a new ETF. If approved the fund would be called, the First Trust Indxx Aerospace & Defense ETF (MISL) and would be listed on the NYSE. MISL would consist of U.S. companies involved in the hypersonic warfare weapons technology, high power microwaves, electromagnetic weapons, and laser technology. The potential launch comes at a time of geopolitical tension as the Russian invasion of Ukraine continues.
If launched MISL will join a few other ETFs already in the space such as, the SPDR S&P Aerospace & Defense ETF (XAR) and the iShares U.S. Aerospace & Defense ETF (ITA).