Expanding on its line of so-called SuperDividend exchange traded fund strategies, Global X Funds has launched a region-specific dividend ETF that targets developed markets in Europe, Australasia and Far East, or EAFE, countries.

Global X has rolled out the Global X MSCI SuperDividend EAFE ETF (NasdaqGM: EFAS). EFAS comes with a 0.55% expense ratio.

The new ETF is part of a SuperDividend suite that targets the highest yielding securities across a variety of geographies and asset classes. EFAS helps round out the series, tracking the 50 highest dividend stocks present in the MSCI EAFE Index. Income-minded investors will also like to know that the fund will have a monthly distribution.

“Amidst a persistently low interest rate environment, investors are continually searching for sources of income,” Jay Jacobs, director of research of Global X, said in a press release. “We see tremendous value in the high dividend segment of developed international markets and we’re proud to offer investors EFAS, which provides efficient exposure to these equities. We see additional value in investors utilizing the fund to help diversify their geographic, currency and interest rate exposures.”

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Specifically, EFAS’s country exposure includes the United Kingdom 24.7%, Australia 23.9%, France 11.7%, Sweden 9.2%, Spain 6.4%, Hong Kong 4.4%, Singapore 4.0%, Finland 2.2% and Switzerland 2.1%.

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