For those investors willing to take on more risk for a higher yield, the WisdomTree Emerging Markets High Yielding Equity ETF (NYSEArca: DEM) pays out 3.4% and focuses in on income paying companies strictly from companies in emerging economies. The size of the companies differs, from small to large-caps which gives investors another source of diversification.

Another overseas option is the SPDR S&P International Dividend ETF (NYSEArca: DWX) which gives exposure to both developed and emerging markets. There are higher risk levels evident in this ETF, as Spain, Italy and other parts of Europe are represented. However, the 7% yield rewards those investors who are willing to take the risk. [International Dividend ETFs for Income, Diversification]

For the highest yield yet, there is the REIT category, or real estate investment trusts. The iShares Mortgage REIT ETF (NYSEArca: REM) owns real estate investment trusts that invest in mortgage securities and use highly leveraged strategies to produce double-digit percentage payouts. The current low yield climate has been favorable for this sector. The 11% yield is well worth watching for a possible rise in interest rates, which would negatively impact the REIT sector. [Special Report: Alternative ETFs]

Tisha Guerrero contributed to this article.