While not the only ETF to offer access to the Brazilian equity market, it’s the only one to hedge against exposure to the Brazilian real—a feature that impacts the pattern of returns of the fund as the currency fluctuates against the dollar.

DBBR tracks a market-cap-weighted index of Brazilian firms covering the entire market-cap spectrum, hedging out currency exposure. Year-to-date, the fund has struggled to break to the upside, tallying losses of 4.7 percent.

Quarterly paying dividend stock
Most recent closing price $38.40
Current yield approximately 8.75%
Has increased its dividend payout every year since 2009
Reached a stock price over $40 three different times in 2012
2. StoneMor Partners L.P. (STON): Owner and operator of cemeteries in the United States.

Quarterly paying dividend stock
Most recent closing price $25.08
Current yield approximately 9.41%
Has increased its dividend payout every year since 2008
Reached a stock price over $26 three different times in 2012
3. Suburban Propane Partners L.P. (SPH): Distributes a range of products for energy needs.

Quarterly paying dividend stock
Most recent closing price $41.43
Current yield approximately 8.45%
Has maintained or increased its dividend payout every year since 1997
Reached a stock price over $45 three different times in 2012
4. BreitBurn Energy Partners L.P. (BBEP): Is an independent oil and gas partnership focused on properties in the United States.

Quarterly paying dividend stock
Most recent closing price $19.80
Current yield approximately 9.39%
Has increased its dividend payout every year since 2010
Reached a stock price over $20 two times during 2012-13
5. Consolidated Communications Holdings Inc (CNSL): Offers telecommunications services.
Quarterly paying dividend stock
Most recent closing price $17.48
Current yield approximately 8.87%
Has maintained its dividend payout every year since 2006
Reached a stock price over $19 twice in 2012

For investors searching for the cheapest option in the mREIT space, look no further than MORT. This product tracks the Market Vectors Global Mortgage REITs Index, which looks to give investors exposure to the overall performance of publically traded mortgage REITs (also see Time for a Commercial Real Estate ETF?).

In total, the ETF holds about 25 securities in its basket, with a heavy focus on Annaly Capital (NLY) which makes up nearly 20% of assets and then American Capital Agency Corp (AGNC) which accounts for roughly 15% of the fund. Still, the fund offers a nice mix of capitalization levels, as large caps make up roughly one-third of the portfolio while small and micro caps comprise just over 60% of the assets as well.

As we alluded to earlier, MORT is the cheaper of the two on this list, charging just 0.40% after waivers, while volume is at a reasonable 35,000 shares a day. Meanwhile, from a yield perspective, the product is hard to beat coming in at 11% in 30 Day SEC Yield terms.

iShares FTSE NAREIT Mortgage REIT ETF (REM)

The original ETF in the mREIT market comes to us from iShares in its REM which tracks the FTSE NAREIT All Mortgage Capped Index. This benchmark follows the residential and commercial mortgage real estate sector of the U.S. market, holding about 30 securities in total.

Despite holdings more securities in its basket, REM is arguably more concentrated as it puts 22.6% in NLY and then 16.85% in AGNC. Much like its Market Vectors counterpart, REM is skewed towards pint sized securities as large caps account for roughly 40% of assets with mid caps making up another 5% as well (read Is ROOF A Better Real Estate ETF?).

While REM might not be as cheap as its MORT cousin—charging eight basis points more a year—it does have a much higher volume suggesting tighter bid ask spreads for this product. Additionally, it does slightly beat out the other fund on yield, paying out just over 12.4% in 30 Day SEC terms, although it is more focused on its top few holdings.

(ETJ) is currently trading at $10.34, a 15.59% discount

to its net asset value of $12.25. The fund focuses on

investments in dividend paying common stock as well as

covered call and options strategies and offers a 10.79%

annual distribution rate, with distributions occurring on

a quarterly basis. It is also worth noting that the most

recent distribution amount of $0.2790, which occurred on

April 30th, 2012, was a reduction from previous

distributions of $0.3195.

Eaton Vance Tax-Managed Premium & Dividend Income Fund

(ETY) is currently trading at $9.46, a 13.92% discount to

its net asset value of $10.99. The fund focuses on

dividend paying common stocks whose income is exempt from

Federal income tax and also utilizes options strategies

for capital appreciation. ETY offers a 10.70% annual

distribution rate, with distributions occurring on a

quarterly basis. As with ETJ, it is worth noting that

ETY”s next distribution amount of $0.2530, which will

occur on May 31st, 2012, is a reduction from previous

distributions of $0.2895.

Eaton Vance Tax Managed Global Buy Write Opportunities

Fund (ETW) is currently trading at $10.88, a 13.86%

discount to its net asset value of $12.63. The fund

focuses on investments in global common stock and through

covered call and options strategies. ETW offers a 10.74%

annual distribution rate, with distributions occurring on

a quarterly basis. Like the funds above, ETW”s most

recent distribution amount of $0.2920, which occurred on

March 30th, 2012, was a reduction from previous

distributions of $0.3024.

Eaton Vance Tax-Managed Global Diversified Equity Income

Fund (EXG) is currently trading at $8.79, a 13.57%

discount to its net asset value of $10.17. The fund

focuses on investments in global common stock and through

options strategies. EXG offers an 11.10% annual

distribution rate, with distributions occurring on a

quarterly basis. This fund will also experience a

distribution reduction, from its previous distribution of

$0.2843 to its next distribution, occurring on May 31st,

2012, of $0.2440.

GDL Fund, Common Shares (GDL) is currently trading at

$12.25, a 12.12% discount to its net asset value of

$13.94. The fund focuses on investments in merger

arbitrage transactions, corporate reorganizations

involving stubs, spin offs, and liquidations. GDL offers

a 10.45% annual distribution rate, with distributions

occurring on a quarterly basis.

Dividend and Income Fund, Inc. (DNI) is currently trading

at $3.55, an 11.47% discount to its net asset value of

$4.01. The fund focuses on high income with capital

appreciation through investments in income-generating

equity, dividend-paying common stocks, convertible

securities, preferred stocks, and as well as an options

strategy. DNI offers an 11.49% annual distribution rate,

with distributions occurring on a quarterly basis. It is

worth noting that on September 30th, 2011, the fund

increased its distribution from $0.0340 to its current

distribution of $0.1020.

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

(ETV) is currently trading at $12.74, an 11.47% discount

to its net asset value of $14.39. The fund uses a covered

call and options strategy and focuses on investments in

common stocks that seek to exceed the total return

performance of either the S&P 500 or the NASDAQ-1100

Index. ETV offers a 10.43% annual distribution rate, with

distributions occurring on a quarterly basis.

Gabelli Global Multimedia Trust, Inc. (GGT) is currently

trading at $7.08, a 9.81% discount to its net asset value

of $7.85. The fund focuses on long-term investments in

companies that create and distribute intellectual

property rights. GGT offers an 11.30% annual distribution

rate, with distributions occurring on a quarterly basis.

BlackRock International Growth & Income Trust (BGY) is

currently trading at $7.53, a 9.39% discount to its net

asset value of $8.31. The fund uses an option strategy

and focuses on investments in equity securities, up to

half of which are in emerging markets. BGY offers an

11.69% annual distribution rate, with distributions

occurring on a quarterly basis. It is worth noting that

the fund”s most recent distribution of $0.2200, which

occurred on March 13th, 2012, was a decrease from

previous distributions of $0.3400.

Oxford Lane Capital Corp (OXLC) is currently trading at

$13.75, a 9.18% discount to its net asset value of

$15.14. The fund focuses on high risk investments in

senior, secured loans made to companies whose debt is

unrated or rated below investment grade. OXLC offers a

16.00% annual distribution rate, with distributions

occurring on a quarterly basis. It is worth noting that

the fund”s most recent distribution of $0.5500, which

occurred on March 30th, 2012, was an increase from

previous distributions of $0.5000.

Cohen & Steers Global Income Builder, Inc. (INB) is

currently trading at $10.38, an 8.87% discount to its net

asset value of $11.39. The fund uses a covered call and

options strategy that focuses on investments in large-cap

common stocks, real estate securities, utility companies,

and MLPs issued equity securities. INB offers a 10.79%

annual distribution rate, with distributions occurring on

a quarterly basis.

BlackRock Enhanced Capital & Income Fund, Inc. (CII) is

currently trading at $13.19, a 7.63% discount to its net

asset value of $14.28. The fund utilizes covered call and

options strategies and focuses on income and capital

gains obtained through investments in equity securities.

CII offers a 10.92% annual distribution rate, with

distributions occurring on a quarterly basis.

ING Global Advantage & Premium Opportunity Fund (IGA) is

currently trading at $11.34, a 7.13% discount to its net

asset value of $12.21. The fund utilizes covered call and

options strategies and focuses on high current income

with capital appreciation through investment in global

common stocks. IGA offers an 11.01% annual distribution

rate, with distributions occurring on a quarterly basis.

It is worth noting that on January 16th, 2012, the fund

decreased its distribution from $0.3350 to its current

$0.3120.

BlackRock Global Opportunities Equity Trust (BOE) is

currently trading at $14.37, a 6.69% discount to its net

asset value of $15.40. The fund utilizes covered call and

options strategies and focuses on investments in equity

securities or on related options, indices, and sectors.

BOE offers an 11.41% annual distribution rate, with

distributions occurring on a quarterly basis. It is also

worth noting that the fund”s next distribution of

$0.4100, which will occur on May 31st, 2012, will be a

decrease from previous distributions of $0.5688.

Alpine Total Dynamic Dividend Fund (AOD) is currently

trading at $4.55, a 6.57% discount to its net asset value

of $4.87. The fund utilizes a strategy of investing in

global equity securities. AOD offers a 14.51% annual

distribution rate, with distributions occurring on a

monthly basis.

ING Risk Managed Natural Resources Fund (IRR) is

currently trading at $11.46, a 4.74% discount to its net

asset value of $12.03. The fund uses covered call and

options strategies and focuses on investment in equities

securities of energy, natural resources, and basic

material industry companies. IRR offers an 11.52% annual

distribution rate, with distributions occurring on a

quarterly basis. It is worth noting that on January 16th,

2012, the fund decreased its distribution from $0.3630 to

its current $0.3300.

NFJ Dividend Interest & Premium Strategy Fund (NFJ) is

currently trading at $17.02, a 3.79% discount to its net

asset value of $17.69. The fund uses covered call and

options strategies, seeking income through investments in

dividend-paying common stocks and income producing

convertible securities. NFJ offers a 10.58% annual

distribution rate, with distributions occurring on a

quarterly basis.

ING Global Equity Dividend & Premium Opportunity Fund

(IGD) is currently trading at $9.24, a 3.45% discount to

its net asset value of $9.57. The fund uses an options

strategy and focuses on investments in global, dividend-

paying common stocks. IGD offers a 12.08% annual

distribution rate, with distributions occurring on a

monthly basis. It is worth noting that on January 16th,

2012, the fund decreased its distribution from $0.1000 to

its current $0.0930.

Wells Fargo Advantage Global Dividend Opportunity Fund

(EOD) is currently trading at $8.21, a 2.96% discount to

its net asset value of $8.46. The fund uses an options

strategy and focuses on investments in common stocks of

global companies, preferred stocks, convertible preferred

stocks, and convertible debt. EOD offers a 13.64% annual

distribution rate, with distributions occurring on a

quarterly basis.

ING Emerging Markets High Dividend Equity Fund Common

Shares of Beneficial Interest (IHD) is currently trading

at $14.79, a 2.50% discount to its net asset value of

$15.17. The fund focuses on investments in equity

securities, primarily of issuers in emerging markets. IHD

offers a 10.82% annual distribution rate, with

distributions occurring on a quarterly basis.

Gabelli Equity Trust, Inc. (GAB) is currently trading at

$5.47, a 1.44% discount to its net asset value of $5.55.

The fund focuses on long-term capital growth and income

through a broad investment strategy in equity securities.

GAB offers a 10.24% annual distribution rate, with

distributions occurring on a quarterly basis.

Guggenheim Enhanced Equity Income Fund (GPM) is currently

trading at $9.45, a 0.74% discount to its net asset value

of $9.52. The fund primarily focuses on high income and

gains with a secondary objective of long-term capital

appreciation. GPM offers a 10.16% annual distribution

rate, with distributions occurring on a quarterly basis.

AGIC International & Premium Strategy Fund (NAI) is

currently trading at $10.55, a 0.57% discount to its net

asset value of $10.61. The fund uses covered call and

options strategies and focuses on investments in foreign

equity securities. NAI offers a 15.17% annual

distribution rate, with distributions occurring on a

quarterly basis.

ING Asia Pacific High Dividend Equity Income Fund (IAE)

is currently trading at $15.59, a 0.13% discount to its

net asset value of $15.61. The fund uses an options

strategy and focuses on investments in dividend yielding

equity securities of Asia Pacific companies. IAE offers a

10.16% annual distribution rate, with distributions

occurring on a quarterly basis. It is worth noting that

on January 16th, 2012, the fund decreased its

distribution from $0.4260 to its current $0.3960.

Other Alternatives
In the mutual fund space, the two highest-rated funds are Eaton Vance Floating Rate (EIBLX) and Fidelity Advisor Floating Rate High Income (FFRAX). For investors interested in higher yields and added leverage, ING Prime Rate (PPR) and Eaton Vance Floating-Rate Income (EFT) could make sense in the closed-end market. I would caution investors that PPR and EFT both currently trade at a premium to their net asset values and are currently leveraged over 30%.