FVD follows the Value Line Dividend Index, which equally weights components and utilizes the proprietary Value Line research to select components. Specifically, stocks are ranked by the Value Line Safety Ranking of 1 or 2 out of 5, which are based on price stability and financial strength. Additionally, the index excludes stocks with a dividend yield lower than the S&P 500. FVD has a 2.18% 12-month yield.

SDY reflects the performance of the S&P High Yield Aristocrats Index, which includes a group of so-called dividend aristocrats, or companies that have increased yields for the past 20 years. The ETF has a 2.25% 12-month yield. [Dividend Royalty With ETFs]

Lastly, DHS tracks the WisdomTree Equity Income Index, which includes the highest-yielding 30% companies taken from all dividend-paying U.S. stocks that meet minimum size and liquidity requirements. Unlike other dividend ETFs, components are weighted by their total cash dividends projected to pay in the coming year. The fund has a 2.99% 12-month yield.

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

Max Chen contributed to this article.