“REGL is the only ETF that is centered on the dividend growth strategy, while the rest use other growth-oriented factors with less focus on consecutively rising dividends,” according to a Seeking Alpha analysis of the ETF.

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, there is some evidence that suggests dividend growth stocks can outperform during periods of rising rates.

Last week, Maryland-based ProShares introduced the ProShares MSCI Emerging Markets Dividend Growers ETF (BATS: EMDV), the sixth ETF in the ProShares lineup of dividend growers funds, which includes NOBL and REGL.

The ProShares MSCI Emerging Markets Dividend Growers ETF follows the MSCI Emerging Markets Dividend Masters Index, which “targets companies that are currently members of MSCI Emerging Markets and have increased dividend payments each year for at least seven consecutive years. The index contains a minimum of 40 stocks, which are equally weighted. No single sector may compose more than 30% of the index, and no single country may compose more than 50% of the index. If there are fewer than 40 stocks with at least seven consecutive years of dividend growth, or if sector or country caps are breached, the index will include companies with shorter dividend growth histories,” according to a statement issued by ProShares.