Additionally, the dividend theme may be seen as an evergreen strategy that may withstand various market environments. For instance, as the Federal Reserve looks to tighten its monetary policy, Hyman pointed out that there is some evidence that suggests dividend growth stocks can outperform during periods of rising rates.

Dividend investors also have other dividend growth ETF options to track various asset categories. For instance, investors can take a look at the ProShares Russell 2000 Dividend Growers ETF (NYSEArca: SMDV) and the ProShares S&P MidCap 400 Dividend Aristocrats ETF (NYSEArca: REGL). [ProShares Doubles Dividend Growth ETF Lineup]

Like, NOBL, the ProShares S&P MidCap 400 Dividend Aristocrats ETF tracks a dividend aristocrats index. The midcap dividend aristocrats index, though, only requires 15 consecutive years of increased dividends for inclusion.

The ProShares Russell 2000 Dividend Growers ETF, a dividend spin on the Russell 2000, the benchmark U.S. small-cap index, tracks the Russell 2000 Dividend Growth Index. That index includes small-cap firms with dividend increase streaks of at least a decade. Index constituents are screened for liquidity and dividend status, then selected and equal weighted subject to a maximum sector weight of 30%.

“If your focus is on dividend income, a prudent path to higher yields may lie outside of the United States,” Kirwan added. “Stocks in Europe and in international developed markets often have higher yields than those in the United States. That means it’s possible to pursue the advantages of a dividend growth strategy and relatively high dividend yields. Plus, international dividend growth stocks come without the added U.S. interest rate sensitivity of high dividend paying stocks.”

Investors can also diversify into international markets while tracking similar dividend growth strategies. For instance, the ProShares MSCI EAFE Dividend Growers ETF (NYSEArca: EFAD) tracks developed market Europe, Australasia and Far East companies that exhibit a minimum dividend increase streak of 10 years.

More recently, ProShares came out with the targeted ProShares MSCI Europe Dividend Growers ETF (NYSEArca: EUDV) for exposure to European dividend stock exposure. EUDV tries to reflect the performance of the MSCI Europe Dividend Masters Index, which consists of at least 25 European companies that have consistently increased their dividends for at least 10 consecutive years.

Financial advisors who are interested in learning more about dividend strategies can listen to the webcast here on demand.