Guggenheim Investments, an asset management and investment advisory business of Guggenheim Partners, has introduced a new Guggenheim Dow Jones Industrial Average Dividend ETF.
The new fund will provide investors with access to some of the highest-yielding securities in the Dow Jones Industrial Average (DJIA), which includes 30 mega-cap US companies.
Guggenheim Investments managing director and head of ETF business development William Belden said: "DJD will track the DJIA Yield Weighted index, which is calculated using a yield-weighted methodology that weights all securities of the DJIA by their 12-month dividend yield.
"All 30 companies in the DJIA must meet certain size, listing and liquidity requirements. Only those companies among them with a track record of consistent dividend payments over the previous 12 months are eligible for inclusion in the DJIA Yield Weighted index.
"This strategic beta approach to the DJIA should be of interest to investors as reinvested dividends historically have been a significant source of the DJIA’s total return."