True to its dividend growth roots, DGRW allocates almost 40% of its combined weight to consumer discretionary and technology names. In recent years, the tech sector has been a major driver of S&P 500 dividend growth while discretionary is expected to be one of just two sectors to post double-digit payout growth this year. [A Dividend ETF Buffett Would Like]

The $664.2 million FlexShares Quality Dividend Index Fund (NYSEArca: QDF) features Apple as its third-largest holding with a weight of 3.4%.

The fund emphasizes the quality factor, of which a company’s ability to generate free cash and dividend growth and stability are integral tenants. QDF tries to reflect the performance of the Northern Trust Quality Dividend Index, which holds high-quality income-oriented U.S. companies with a targeted overall beta similar to the Northern Trust 1250 Index. QDF’s quality emphasis implies a safer payout and more room for potential dividend growth. [Newer Dividend ETFs Offer Opportunity]

Over the past two years, QDF is up 29.5% compared to an average gain of 21.4% for the four largest U.S. dividend ETFs over that period.

FlexShares Quality Dividend Index Fund

Tom Lydon’s clients own shares of Apple. Todd Shriber owns shares of DGRW.