FaithShares Trust is completing its planned lineup of religious-based ETFs with the launch today of two additional funds.

The FaithShares Baptist Values Fund (NYSEArca: FZB) and the FaithShares Lutheran Values Fund (NYSEArca: FKL) join the company's other ETFs—the FaithShares Catholic Values Fund (NYSEArca: FCV), FaithShares Methodist Values Fund (NYSEArca: FMV) and FaithShares Christian Values Fund (NYSEArca: FOC)—launched last week.

All five ETFs track equally weighted indexes that invest in large-cap domestic names. The portfolios are similar in construction—roughly 70 percent of their individual portfolios are pretty much identical to each other. The real differences in allocations lie in the remaining 30 percent of each portfolio.

Companies included in the portfolios are evaluated through a rules-based screening methodology that seeks to eliminate those that operate in industries prohibited by each denomination, such as alcohol production and sale, tobacco, gambling, pornography and weaponry.

Sectorwise, the portfolios are constructed to approximate the sector breakdown of the S&P 500.

You can read IndexUniverse's additional coverage of the funds here.