However, potential investors should be aware that dividend stocks usually underperform in a rising rate environment. Interest rates typically rise during an economic expansion, and dividend-paying companies experience less earnings growth than other areas of the market.

Along with DHS, yield-hungry investors also have a number of other dividend-related ETFs available. For instance, the WisdomTree LargeCap Dividend Fund (NYSEArca: DLN) includes more growth stocks and weights holdings by its proportionate share of aggregate dollar dividends paid. DLN shows a 2.77% 12-month yield.

The Schwab US Dividend Equity ETF (NYSEArca: SCHD) includes 100 stocks that showed consistent dividend payouts for at least 10 consecutive years and targets stocks with high return on equity, high cash flow to debt, high dividend yields and strong dividend growth. SCHD is the cheapest dividend ETF at a 0.07% expense ratio and comes with a 3.03% 12-month yield.

The Vanguard Dividend Appreciation ETF (NYSEArca: VIG) tracks U.S. stocks that have increased dividends for at least 10 consecutive years, and components typically enjoy durable competitive advantages. VIG has a 2.31% 12-month yield.

The Vanguard High Dividend Yield ETF (NYSEArca: VYM) focuses on companies in the the highest-yielding third of the U.S. market and includes a value tilt. VYM has a 3.20% 12-month yield.

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

Max Chen contributed to this article.

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