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By Christine Benz | 04-06-2010 08:00 AM

Two Dividend ETF Picks for Your IRA

Day 2: Morningstar's Christine Benz taps Morningstar experts for top picks for funding an IRA before the April 15 deadline.

Christine Benz: Hi, I'm Christine Benz from Morningstar. You have until April 15 to fund an IRA for the 2009 tax year, so this week I'm talking to some of Morningstar's investment experts to get their best ideas for funding an IRA. I'm here today with Scott Burns. Scott is director of exchange-traded fund research for Morningstar. Scott, thanks for being here.

Scott Burns: Christine, thanks for having me, as always.

Benz: Well, it sounds like you've got a couple picks. One you've got is for people who are nearing retirement or perhaps in retirement, it's an income-rich fund. What is it?

Burns: Right now what we are really looking at is the utility sector, and we think the best bet in there is actually the Utilities Sector SPDR. The ticker is XLU. It's a low-cost ETF. It charges 21 basis points, and it's going to give you the utility portion of the S&P 500.

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