Just 18 months after coming to market, the WBI Power Factor High Dividend ETF (NYSEArca: WBIY), a multi-factor smart beta ETF, topped $50 million in assets under management.

WBIY, which tries to reflect the performance of the Solactive Power Factor High Dividend Index, selects securities from the broader Solactive US Broad Market Index that exhibit certain yield and fundamental value characteristics.

“WBIY is an advanced multi-factor Smart Beta ETF providing investors with a powerful combination of high dividend yield and high-quality fundamentals,” according to a statement from New Jersey-based WBI Investments, Inc.

As of June 22, WBIY had $51.18 million in assets, according to issuer data.

Inside WBIY

WBIY’s underlying index screens for equity securities with an above-average forecasted dividend yield and further scores components based on three fundamental value characteristics, including price to trailing 12-month diluted earnings from continuing operations ratio, price to trailing 12-month free cash flow and price to trailing 12-month sales ratio.

None of the ETF’s holdings account for more than 5.07% of the fund. Top 10 holdings include Williams Cos. (NYSE: WMB), For Motor Co. (NYSE: F) and Dow components Exxon Mobil Corp. (NYSE: XOM), Intel Corp. (NYSE: INTC) and Pfizer Inc. (NYSE: PFE).