Global X Goes Big With New Dividend ETF

After its first foray into the world of dividend ETFs last month with the introduction of the Global X Canada Preferred ETF

, New York-based Global X is offering up a massive dividend fund in the form of the Global X SuperDividend ETF (

, which made its debut today. SDIV consists of 100 equally-weighted companies that are among the world's highest yielders. SDIV will track the Solactive Global SuperDividend Index with an expense ratio of 0.58%. Each stock in the fund receives a weight of 1%. In terms of country weights, SDIV has a developed market bias as the U.S. accounts for 32% of the fund's country allocation. Australia receives a weight of 24% while Great Britain chimes in at 10%. Canada and Singapore combine for another 10% while Bermuda, Brazil, Czech Republic, France and Germany each receive allocations of 2%. As a dividend play, it's no surprise to see REITs lead SDIV's sector allocation at 22%. Consumer discretionary and telecom names each receive weights of 16% while financials account for 10%. Utilities account for 8% of SDIV's sector weight. “In an environment where people are seeking monthly income, the SuperDividend ETF offers convenient access to 100 high yielding companies around the globe through one security,” said Bruno del Ama, chief executive officer of Global X Funds, in a statement. “We are very proud of bringing to market our most innovative addition to our suite of income generating funds.” SDIV does hold plenty of names dividend seekers and yield lovers may already be familiar with including Annaly Capital Management

, Prospect Capital

, France Telecom

, Ares Capital

and Telefonica

. SDIV is the second ETF Global X has introduced this month and the eighth since the start of May. Global X now has 35 ETFs in its lineup and the firm had $1.7 billion in assets under management as of May 31.