Diversify and Collect a High Yield With This ETF

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.