DIV combines a low-volatility strategy with a high-dividend-yield mandate. The fund's index pulls from the entire US equity space and screens for firms with large, consistent dividends and low volatility to Indxx's market benchmark. Companies should have paid consistent dividends over the last two years and are perceived to have lower relative volatility, as measured by their beta. Stocks are ranked and those with the highest dividend yields are selected. The equally weighted, 50-firm portfolio includes MLPs and REITs, two pass-through structures with unique tax implications. This gives DIV pumped-up exposure to financials and energy, while the low-volatility strategy helps explain exposure to utilities. The index is reconstituted annually, subject to quarterly reviews.