Daily ETF Watch: New Dividend Fund Planned

Global X has filed for the latest addition to its growing family of SuperDividend ETFs, this one focused on a variety of sectors that each serve up the promise of decent income.

The Global X SuperDividend Alternatives ETF will target infrastructure investments, MLPs, REITs, convertibles and preferred stocks, senior loans, currencies, long/short credit, private equity, business development companies, option-writing and long/short credit, among other securities. The fund can also invest in other ETFs and closed-end funds, according to the prospectus.

Global X already includes five funds in this family covering U.S. equities, global equities, emerging market equities, preferred securities and REITS. The largest of these funds by far is the Global X SuperDividend ETF (SDIV | B-47), which has more than $1 billion in assets under management.

Essentially, each fund’s index follows the same basic methodology: It selects a certain number of the securities with the highest dividend yields that also meet certain stability and liquidity requirements, and then equally weights them.

The latest filing detailing the Global X SuperDividend Alternatives ETF didn’t mention an exchange, ticker or expense ratio.