First Trust, the ninth-largest U.S. ETF issuer, has filed plans with the U.S. Securities and Exchange Commission to possibly introduce a new dividend ETF, the First Trust NASDAQ Rising Dividend Achievers Index ETF. The filing did not include a ticker or expense ratio, indicating a launch date is not imminent.

Assuming the ETF comes to market, it will track the NASDAQ Rising Dividend Achievers Index. That index “is designed to provide access to a diversified portfolio of companies with a history of paying dividends. The Index methodology also considers each company’s earnings growth and compares the level of cash held by the company with its debt profile,” according to the SEC filing.

The Index focuses on large-cap dividend stocks and rebalances quarterly. NASDAQ is the index provider for other dividend ETFs, including the PowerShares Dividend Achievers Portfolio (NYSEArca: PFM) and the PowerShares High Yield Equity Dividend Achievers Portfolio (NYSEArca: PEY), among others. [ETFs With Above Average Dividend Yields

Popular First Trust Dividend ETFs include the $217 million First Trust NASDAQ Technology Dividend Index Fund (NasdaqGS: TDIV), which tracks a NASDAQ Index, and the $383.1 million First Trust Dow Jones Global Select Dividend Index Fund (NYSEArca: FGD). [Investors Revisit Dividend ETFs]

First Trust Dow Jones Global Select Dividend Index Fund

ETF Trends editorial team contributed to this post.

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