A renaissance of American industry is underway, in our opinion, arising from elevated risks to global supply chains, increased trade protectionism, and U.S. industrial policies offering substantial incentives to shift manufacturing onshore. While small- and mid-capitalization (“cap”) U.S. industrial stocks have performed relatively well recently, we view U.S. reindustrialization as a largely untapped secular growth opportunity that may continue to flourish over the next decade. Below, we unpack several key drivers for the return of American manufacturing, followed by a brief discussion of why we believe the First Trust RBA American Industrial Renaissance® ETF (AIRR) is well-positioned to benefit.

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