If you own an S&P 500 fund, you might want to consider replacing it with this better-performing dividend-stock fund

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The First Trust Rising Dividend Achievers ETF selects quality dividend stocks while spreading risk evenly

Shares of Apple and Microsoft are owned by the First Trust Rising Dividend Achievers ETF. (Getty Images)

Most investors are aware that active money managers are hard-pressed to match the performance of broad — and inexpensive — index funds. But what would you say if you were offered an exchange traded fund that takes less risk than the S&P 500 but has outperformed it?

The First Trust Rising Dividend Achievers ETF RDVY holds 50 stocks — it is equally weighted, with the portfolio reconstituted annually and rebalanced each quarter.