The correct answer is      (A.)  Alpine Global Dividend (AGD)

At a whopping 15.9%, AGD's yield is one of the largest around. And because management doesn't use leverage or options, it's also one of the most pure.

The overriding goal of AGD is to generate maximum current income from dividend-paying stocks -- preferably those qualifying for favorable tax treatment. Whereas many equity-income funds hold a lot of financial stocks, AGD dives instead into industrial, energy, telecom, and consumer-oriented stocks. The portfolio also gravitates heavily toward higher-yielding markets in Western Europe, which accounts for about 60% of the fund's assets, because the region carries an average yield of nearly 5.0% -- more than double that offered by U.S. firms.

In the end, however, the portfolio is the end result of a unique three-pronged attack. First, there is the core mission of seeking undervalued high-yield companies with identifiable turnaround catalysts. Next, management dabbles in the occasional growth stock with the potential for both dividend hikes and significant capital appreciation. Finally, the fund's managers employ a dividend capture strategy, involving precise timing to rotate in and out of companies about to pay dividends to "capture" more than the standard four quarterly payouts per year with the same investment dollars.

AGD is a great example of why investors are sitting on a potential goldmine of dividend yields... and hardly anyone knows about it. The precipitous decline that has rattled the global markets and forced many to duck for cover isn't a punishing blow -- but an exceedingly rare gift that falls in income investors' laps just once or twice per decade.

The multitude of ETF choices now on the scene provides the perfect ammunition for those looking to bag these high-flying payouts. In a recent issue of The ETF Authority newsletter, editor Nathan Slaughter profiled AGD along with some of his other favorite high-yielding ETFs. Income investors who want to know the names of these funds and learn more about The ETF Authority should be sure to visit this link.