3 Good Under-the-Radar Dividend Stock Funds

Many of the top funds for dividends live in the large-value category and have names like "equity-income." But there are actually places where you can find good funds with a decent yield outside of that area.

When you look for a good dividend fund, remember not to put the cart before the horse. You need a well-run strategy with low costs and strong return potential. If you narrow your search to funds that pass those tests, then it's OK to start looking for a decent yield. And you'll find some good ones outside of large value.

Vanguard index funds often have attractive yields because a portfolio's yield has to pay off a fund's expenses first before you get the income. With super low fees, Vanguard index funds naturally have plenty of income left for the investor. Consider Gold-rated Vanguard Small Cap Value Index. It charges only 7 basis points, leaving a yield of about 1.75% for you.

Another interesting option is Lazard Global Listed Infrastructure. Infrastructure stocks often have a good yield, and Lazard has proven a savvy investor in that space. The fund currently has a robust yield, but I should note that the fund's yield has bounced around a lot as management sometimes favors lower-dividend names and sometimes higher-dividend stocks.

Emerging markets also have some decent dividends when you buy stocks in more-staid industries. I like Silver-rated Matthews Asia Dividend. The fund has a modest yield of around 1%, but that dividend discipline also serves to moderate risk in a category where results can be pretty extreme.