The team at a $299-billion-AUMS, $212-billion-AUM* fund firm near Chicago are forging their 300th exchange-traded fund.

On Wednesday (November 5), Ryan Issakainen, senior vice president and ETF strategist at First Trust Advisors L.P. [profile], and Rahul Sen Sharma, president and co-CEO of Indxx, Inc., unveiled the launch of the First Trust Indxx Critical Metals ETF (FMTL on the NYSE Arca). Wheaton, Illinois-based First Trust serves as investment advisor and fund reporting agent to the new ETF.

FMTL's inception date was Tuesday (November 4). The new fund comes with an expense ratio of 65 basis points, and as of yesterday (November 6) FMTL had about $1.228 million in AUM.

Indxx serves as index provider to FMTL, which is designed to track the Indxx Global Critical Metals Index. The new ETF's PM team includes:

Jon Erickson, senior vice president;

Daniel Lindquist, managing director and chairman of the investment committee;

David McGarel, managing director, chief investment officer, and chief operating officer;

Chris Peterson, SVP;

Erik Russo, SVP;

Roger Testin, SVP; and

Stan Ueland, SVP.

Issakainen puts the launch of FMTL in the context of "major efforts ... underway to bolster the supply chains of technologies that many of us take for granted."

"This fund aligns with the increasing global focus on critical metals that enable clean energy, advanced manufacturing, and emerging technologies," Sen Sharma states.

FMTL is a passively managed, non-diversified series of First Trust Exchange-Traded Fund II. The new ETF's other service providers include:

the Bank of New York Mellon (BNY Mellon) as administrator, accounting agent, custodian, and transfer agent;

Chapman and Cutler LLP as counsel;

Deloitte & Touche LLP as independent accounting firm; and

First Trust Portfolios L.P. (FTP) as distributor.

*As of September 30, 2025. 

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