New SuperDividend ETF

Tomorrow Global X will be launching a new "Super Dividend" ETF that will focus on the highest yielding US-based stocks.

The Global X SuperDividend US ETF ($DIV) will provide exposure to 50 companies that rank among the highest dividend yielding equity securities in the US. The ETF will have equal weighting across the 50 stocks and therefore will eliminate concentration risk into a small number of holdings. There are also filters that are used to lower the volatility of the stocks in the portfolio and to attempt to eliminate any stocks that may be at risk of lowering their dividend payments.

The ETF will compete with the PowerShares S&P 500 High Dividend ETF ($SPHD), which was launched late last year. The ETF is up 9.4% in 2013 and pays a dividend yield of 3.8%.