5 ETFs With Attractive Yields

NEW YORK (TheStreet) -- Although the U.S. markets have enjoyed some small doses of strength over the course of the week, caution remains warranted as we look ahead.

With Greece's debt woes still dominating headlines and weighing on sentiment, the need for protection is essential. There are a number of ways investors can use ETFs in order to both defend against the market's current shakiness and prepare for strength on the horizon.

Dividend-paying equities and other income-oriented investing options, for instance, may appeal to investors looking to construct such an all-weather portfolio. Here are five ETF options investors may want to consider when attempting to target yield.

iShares Dow Jones Select Dividend Index Fund (DVY)

DVY is dedicated to providing investors with expansive and well-balanced exposure to some of the most recognizable dividend-paying companies available. Top holdings include Lorillard (LO), Chevron (CVX), McDonald's (MCD) and Kimberly Clark (KMB).

Although the fund's dedication to large, stable firms makes it an attractive option for conservative-minded investors looking to track economic strength, DVY also benefits during periods of economic commotion. The fund's yield, which currently tops 3%, will provide some welcomed comfort when headwinds loom.

JPMorgan Alerian MLP Index ETN (AMJ)

Natural gas is a consistently popular corner of the energy markets. By using AMJ retail investors can target a collection of companies responsible for storing and transporting the fuel. As an added bonus, AMJ provides investors with a nearly 5% yield.

The ample distribution associated with AMJ stems from the fund's dedicated exposure to the master-limited partnership industry. MLPs pass through a major percentage of their profits to shareholders in the form of distributions. Therefore, it is not surprising that companies like Kinder Morgan Energy Partners (KMP) have become a popular destinations for investors looking to pad their portfolios with stable income.

While it is possible to directly invest in companies like KMP, it is crucial to note that investors doing so will receive a K-1 form at tax time.

Because of AMJ's ETN structure, investors needn't worry about any additional tax-related headaches. Distributions from this product are reported as ordinary income and therefore require no extra paperwork.

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