Connecticut-based Source Asset Management (not to be confused with the former European ETF issuer since acquired by Invesco) has introduced its first ETF: the Source Dividend Opportunity ETF (DVOP US).

The fund focuses on US equities with attractive dividend yields.

Listed on Cboe BZX, the fund is actively managed and provides exposure to high dividend-yielding US equities.

The fund will hold a relatively concentrated portfolio of approximately 25 to 40 constituents.

Its initial focus will be on large-cap stocks and will typically include the top ten highest yielding firms from the S&P 500 Value Index.

The remaining stocks will be drawn from across the market cap spectrum, and fund’s managers may invest a small proportion of the fund’s assets in equities listed in international developed markets.

Stocks are selected based on proprietary quantitative and fundamental analyses that seek to identify securities with attractive dividend yields and potential for long-term capital appreciation. Industry exposure will be capped at 25%.

The fund comes with an expense ratio of 0.50%.