ALPS Files For New Dividend ETF

With dividend ETFs continuing to soar in popularity, issuers are scrambling to bring to new funds to market. Add ALPS Advisors to that list as the firm has filed plans with the Securities and Exchange Commission to possibly list the ALPS Sector Dividend Dogs ETF. The filing did not include a ticker or expense ratio. The ETF will track the Sector Dividend Dogs Index, which was introduced in 1997. The Underlying Index has a fixed number of 50 constituents on each annual reconstitution date, which is the third Friday of December each year. Constituent stocks must be constituents of the S&P 500 Index, the leading benchmark index for US large capitalization stocks. The Underlying Index methodology selects the five stocks in each of the ten Global Industry Classification Standard (“GICS”) sectors that make up the S&P 500 which offer the highest dividend yields as of the last business day of November. Dividend yield is computed based on the regular cash dividends paid by the company over the previous twelve month period, divided by the share price. The fifty stocks that are selected for inclusion in the Underlying Index's portfolio are equally weighted. The Underlying Index is rebalanced quarterly, according to

. ALPS had four ETFs with over $3 billion in assets under management at the end of March, according to data from the ETF Industry Association. For more on dividend ETFs, please click

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