Exchange-traded funds (ETFs) designed to maximize dividend income are among the most popular these days, given the bear market conditions. Not only do they generate income; dividend ETFs are also generating higher returns than most other funds right now, because they typically consist of stable, value-oriented stocks, which tend to perform better in down markets.

Retirees may find them particularly attractive right now, for both their income and their ability to maintain solid returns and mitigate portfolio losses. Here are two of the best dividend ETFs for retirees right now.

The First Trust Morningstar Dividend Leaders Index ETF (NYSEMKT: FDL) tracks the Morningstar Dividend Leaders Index, which employs a proprietary model to find the 100 highest-yielding stocks out there -- with screens for companies that have maintained stable, consistent dividends. The stocks within the index are weighted based upon the amount of the dividend payments, but no one stock can exceed 10% of the portfolio. The three largest holdings are ExxonMobil, AbbVie, and Verizon Communications.

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Source Fool.com