There are some excellent index funds that focus on dividend stocks, and thanks to the current interest rate environment, dividend yields are generally higher than they've been in years. But while investors pay the most attention to dividend stock index funds focused on high-yield stocks, I'd suggest an alternative approach, especially if you're decades away from relying on your portfolio for income.

Specifically, the Vanguard Dividend Appreciation ETF (NYSEMKT: VIG) focuses on companies that have a strong track record of growing their dividends. Here's a rundown of what the ETF invests in and why it could be a smart index fund to consider if you have $1,000 (or more) to invest today.

The Vanguard Dividend Appreciation ETF is an index fund that tracks the S U.S. Dividend Growers Index. Unlike many other Dividend stock indexes, this one doesn't focus on each of its components' yield.

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Source Fool.com