Exchange traded funds issuer ALPS will add to its lineup of dividend ETFs today with the launch of the ALPS Emerging Market Sector Dividend Dogs ETF (NYSEArca: EDOG).

With an annual expense ratio of 0.6%, EDOG will try to reflect the performance of the S-Network Emerging Sector Dividend Dogs Index. The index is comprised of the highest paying stocks, or “Dividend Dogs,” from the S-Network emerging Markets Index, which holds large-cap, emerging market stocks. The Dividend Dogs include the five stocks in each of the ten Global Industry Classification Standard sectors that make up the S-Network Emerging Markets. [ALPS Eyes EM Dividend Dog ETF]

EDOG will be the third member of the ALPS “dividend dogs” ETF lineup, a group that also includes the ALPS Sector Dividend Dogs ETF (NYSEArca: SDOG) and the ALPS International Sector Dividend Dogs ETF (NYSEArca: IDOG). ALPS identifies the five highest-yielding securities in the 10 GICS sectors on the last trading day of November. From there, IDOG and SDOG rebalanced quarterly in an effort to keep sector weights in the area of 10% and individual holdings at around 2%. [Don’t Miss These Global Dividend ETFs]

The timing of the new emerging markets dividend ETF appears sound as developing world payouts are on the upswing.

Global dividends reached $1.03 trillion last year with $1 of every $7 of that total coming courtesy of developing world companies, according to Henderson Global Investors. Emerging markets payouts have jumped almost 110% over the past five years, Reuters reported.  [Emerging Markets Dividends are Rising]

EDOG will face competition from the likes of the WisdomTree Emerging Markets Equity Income Fund (NYSEArca: DEM), the Shares Emerging Markets Dividend ETF (NYSEArca: DVYE) and the SPDR S&P Emerging Markets Dividend ETF (NYSEArca: EDIV), among others.

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DEM.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.