Both VIG and VYM, however, are still solid funds individually. They’re cheap and do the job they set out to accomplish even though their selection criteria are a little loose and bland. For investors simply looking for exposure to these strategies, there are certainly worse options out there.

The Vanguard High Dividend Yield ETF (NYSE: VYM) is an exchange-traded fund that tracks the FTSE High Dividend Yield Index. The index is comprised of U.S. stocks with above average dividend yields, giving investors a low cost way to basket the highest paying dividend stocks in one equity.

Both VIG and SCHD offer defensive, high-quality dividend growth with low expense ratios, ideal for uncertain times. Click here for a detailed analysis.