On the other hand, those that are seeking a steady, consistent dividend payout based on the historical track records of the underlying securities can consider DVY (iShares DJ Select Dividend), PFM (PowerShares Dividend Achievers), PEY (PowerShares High Yield Equity Dividend Achievers) and VIG (Vanguard Dividend Appreciation).

Other potential plays that are focused on a dividend based strategy include FVD (First Trust Value Line Dividend), FDL (First Trust Morningstar Dividend Leaders), as well as dividend weighted ETFs from WisdomTree such as DEM (Emerging Markets High Yielding Equity), DGS (Emerging Markets SmallCap Dividend), DTN (Dividend Top 100), DLS (International SmallCap Dividend), DFJ (Japan SmallCap Dividend), DON (MidCap Dividend), DES (SmallCap Dividend), DTD (Total Dividend), DOO (International Dividend ex-Financials), DIM (International MidCap Dividend), DOL (International Large Cap Dividend), DTH (DEFA High Yielding Equity), DFE (Europe SmallCap Dividend) and GULF (Middle East Dividend).

Each one of the ETFs mentioned above has a unique investment methodology and thus different risk characteristics and sector exposures, so it is prudent for the investment manager to delve into the nuances of these products in determining which ones are a potential fit. [Emerging Markets Dividend Funds]

iShares High Dividend Equity

Chart source: StockCharts.com.