Building upon its successful line of “Quality Dividend” index funds as investors leaned toward income-generating investment options, Northern Trust’s FlexShares is planning to add three internationally focused dividend exchange traded funds.

According to the provider, the FlexShares International Quality Dividend Index Fund (IQDF) , FlexShares International Quality Dividend Dynamic Index Fund (IQDY) and FlexShares International Quality Dividend Defensive Index Fund (IQDE) will begin trading Tuesday, April 16.

According to a Securities and Exchange Commission filing, the three funds will each have a 0.47% expense ratio.

The funds are part of a new breed of “intelligent,” or “smart”-beta indexing where the indices are based on fundamental factors, such as profitability, solid management and reliable cash flow to, similar to actively managed styles. Consequently, the fundamental indices are designed to outperform the Parent Index on a risk-adjusted basis.

Beta is a measure of volatility, or systematic risk, of a portfolio compared to the overall market.

IQDF will try to reflect the performance of the Northern Trust International Quality Dividend Index, which provides exposure to high-quality, income-oriented portfolio of non-U.S. based international equities that are weighted by dividend yield, quality factors and lower total risk.

IQDY will try to reflect the performance of the Northern Trust International Quality Dividend Dynamic Index, which provides exposure to high-quality, income-oriented non-U.S. international equities that are weighted by target overall beta between 1.0 to 1.5 times that of the Parent Index, dividend yield, quality factors and lower total risk. This ETF appears to tilt toward riskier but potentially more lucrative international dividend stocks.

IQDE will try to reflect the performance of the Northern Trust International Quality Dividend Defensive Index, which provides exposure to high-quality, income-monitored portfolio of non-U.S. international equities that are weighted by targeted overall beta between 0.5 and 1.0 times that of the Parnet Index, dividend yield, quality factors and lower total risk.

The fund provider launched the FlexShares Quality Dividend Index Fund (QDF) , which has a 3.09% 30-day SEC yield, FlexShares Quality Dividend Dynamic Index Fund (QDYN) , which has a 3.01% 30-day SEC yield, and FlexShares Quality Dividend Defensive Index Fund (QDEF) , which has a 3.12% 30-day SEC yield, late last year.[FlexShares Adds New Line of Dividend ETFs]

For more information on new fund products, visit our new ETFs category.