A specialized dividend ETF that’s beating the S&P 500 this year saw record trading volume on Tuesday and what appears to be a rather large inflow.

Over 650,000 shares of ALPS Sector Dividend Dogs ETF (NYSEArca: SDOG) traded on Tuesday, nearly double the previous volume record.

Buyers were “picking away” at the ETF on Monday, according to a note from WallachBeth Capital. “That is [a] great inflow for this one.”

SDOG follows the S-Network Sector Dividend Dogs Index.

The benchmark selects stocks from the S&P 500. At the annual reconstitution, the index identifies the five highest-yielding stocks in each of the 10 sectors of the S&P 500. It is rebalanced on a quarterly basis to maintain 10% in each sector, and 2% in each of the 50 stocks.

The fund is up 25.9% year to date, compared with a gain of 20.9% for the S&P 500, according to Morningstar.

SDOG charges an expense ratio of 0.40%.

ALPS Sector Dividend Dogs ETF

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