Exchange traded funds are one of the best tools to access dividend-paying stocks. They can help mitigate the risk of a single company while offering a decent yield.

“Chasing high-dividend-yielding stocks can skew a portfolio toward distressed companies that have high yields only because their fundamentals have deteriorated. Because these stocks may underperform during market downturns and remain out of favor for several years at a time, diversified dividend funds that balance yield with quality can provide a better way to gain access to equity income,” Michael Rawson wrote for Morningstar.

Yield-chasing is a dangerous sport. However, ETFs manage to give investors exposure to high quality companies, while cutting out the risk of a single stock, reports Jeff Reeves for InvestorPlace. The following ETFs give a yield over 6% and can bring much needed diversification to the table:

Market Vectors Preferred Securities ex Financials (NYSEArca: PFXF) yields 6.1%; For those investors who are not convinced that the financial sector is safe yet, this ETF covers most areas of the market, minus the financial sector. Preferred stocks are known for decent payouts, and top holdings such as General Motors (NYSE: GM) are a great bargain at the low prices of 0.4% for PFXF. [Preferred Stock ETFs with High Yields]

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