While we are all for choice, the proliferation of exchange traded funds has made previously simple asset allocation decisions ever more difficult. One area that has seen a boom is the number and variety of dividend-focused ETFs (with more on the way).

John Spence at Marketwatch.com looks at a handful of dividend-related ETFs. Although all of the providers use different screening criteria they all have the common problem of having sector weightings that are substantially different that the overall market.

IndexUniverse.com noted the news that Morningstar (MORN) was jumping into the dividend ETF fray. While decrying the rush of dividend ETFs they did have some kind words for Morningstar’s unique weighting scheme based on “available dividends.”

In any event it will be interesting to see how much headway these upstarts will be able to make against the dividend heavyweight, the iShares Dow Jones Select Dividend (DVY) fund.