Two things investors should consider doing in the stock market right now are to diversify and invest in dividend stocks. Both of those goals can be achieved by investing in a single exchange-traded fund (ETF) -- the Invesco International Dividend Achievers ETF (NASDAQ:PID). With this fund, investors get exposure to some top dividend stocks, and plenty of diversification.
The ETF pays a yield of around 4.5% and its focus is on investing in stocks that have been increasing their dividends for at least five-plus years. That means that not only do investors earn a top dividend right now, but over time, you can be collecting more in dividends as the companies within the fund increase their payouts.
Many top Canadian-based companies are in the fund, including Enbridge (TSX:ENB)(NYSE:ENB), BCE Inc (TSX:BCE)(NYSE:BCE), and TC Energy (TSX:TRP)(NYSE:TRP), each accounting for more than 3% of the fund's total weight. In total, Canadian stocks account for 53% of the ETF's weight, followed by stocks in the United Kingdom which represent more than 10%. Stocks from Germany, Switzerland, Japan, and Brazil each account for more than 4% of the ETF.
The ETF also provides plenty of diversification across industries as well, with stocks from the financials sector representing 19% of holdings, followed by utilities at 16%, energy at 12%, and materials at 11% is the only other sector above the 10% mark.
The fund has a total of 50 holdings and its expense ratio is 0.53%. For investors who want a safe place to invest in amid challenging economic conditions, the International Dividend Achievers ETF makes for a great option today.
