“It gives the most portfolio weight to the companies with the highest yield, which boosts income but can be risky during times of market distress,” according to Morningstar analyst Abby Woodham. “During such periods, high-yielding companies are the unloved bunch, and can trade at a significant discount to their fundamental fair value.”

DWX has a significant tilt toward Australia at 28.3% of the overall portfolio, followed by Spain 6.9%, Finland 5.7%, U.K. 5.4%, Sweden 4.8%, Canada 4.8%, Turkey 3.9%, France 3.9%, Thailand 3.6%, Israel 3.5%, Italy 3.4%, Norway 3.0%, Switzerland 3.0%, South Africa 2.6%, Netherlands 2.5%., Belgium 2.4%, Czech Republic 2.0%, Germany 1.8%, Brazil 1.5%, Portugal 1.5%, Denmark 1.5%, and China 1.4%. The ETF has a 15.3% exposure to emerging markets and 84.7% to developed markets.

Sector allocations include financials 21.6%, telecom services 18.3%, utilities 15.3%, energy 11.5%, materials 9.4%, industrials 7.7%, information technology 4.9%, consumer discretionary 4.3%, health care 3.2% and consumer staples 3.0%.

The Guggenheim S&P Global Dividend Opportunities Index ETF (NYSEArca: LVL) offers a 7.12% 12-month yield. The ETF is comprised of American depositary receipts, or “ADRs,” that offer high dividend yields. LVL has a 0.60% expense ratio. The ETF is up 5.3% year-to-date.

Country allocations include U.S. 19.6%, Australia 16.0%, Sweden 7.1%, Israel 6.5%, Belgium 5.6%, Canada 5.1%, France 4.4%, South Africa 3.9%, Thailand 3.7% and Turkey 3.3%. About 85.1% of the portfolio is allocated toward developed economies and 14.9% in emerging markets.

Sector allocations include telecom services 20.7%, financials 19.3%, energy 11.0%, utilities 11.0%, industrials 9.6%, consumer staples 9.1%, materials 9.0%, consumer discretionary 8.4% and information technology 1.7%.

For more information on dividend funds, visit our dividend ETFs category.

Max Chen contributed to this article.