First Trust, an ETF provider focused mostly on niche funds, launched two equity ETFs on Tuesday targeting copper and platinum companies, respectively, joining a growing field of competing ETFs seeking to take advantage of a global boom in commodities.

The First Trust ISE Global Copper Index Fund (NasdaqGM: CU) and the First Trust ISE Global Platinum Index Fund (NasdaqGM: PLTM) are built on benchmarks comprising companies whose revenues come from the mining, refining or exploration of copper and platinum, respectively.

Commodities prices have resumed their sharp rally of the past decade following the market collapse in 2008, fueled by demand from emerging market countries such as China and India. The ISC Copper Index has more than tripled since the crash, according to data compiled by Bloomberg. New York-based Van Eck Global is widely considered the leading ETF provider focused on commodities, with a lineup of almost 10 products targeting the space.

“These are companies that are really going to rally when the economy picks up,” Eric Anderson, an ETF analyst at Wheaton, Ill.-based First Trust, said about the holdings of the two ETFs. He emphasized that copper is indispensible in houses, cars and airplanes.

Platinum is more like gold, Anderson says, with uses in the jewelry business and a growing role in portfolios as an inflation hedge. He also says that immediately available global platinum stocks would last about a year, suggesting that the price of the metal is on a solidly upward trajectory.

First Trust will charge a 0.70 percent annual management fee on its two new funds.

Anderson says some of the expense ratio is linked to the presence in the ETFs of smaller companies located in remote parts of the world whose shares change hands less frequently, adding to trading costs.

First Trust’s most popular ETF to date is the First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG), a collection of natural gas drillers. It has gathered $507 million since its rollout in May 2008.