Buy these excellent ASX ETFs for your income portfolio in May

These ETFs could be top options for income investors.

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If you're an income investor who isn't a fan of stock picking, then exchange-traded funds (ETFs) could be the solution.

There are a number of funds out there that allow investors to buy groups of dividend-paying shares through a single click of a button.

This means that you can diversify a portfolio easily, pay significantly less brokerage costs, and avoid the hassle of picking which stocks to buy.

For example, three ASX ETFs that provide investors with a good source of income and could be worth considering in May are listed below.

Here's what you need to know about these funds:

BetaShares S&P 500 Yield Maximiser (ASX: UMAX)

The BetaShares S&P 500 Yield Maximiser could be a great option if you don't already have exposure to the United States.

It provides investors with access to the top 500 companies listed on Wall Street with a 'covered call' strategy. The strategy allows the actively managed fund to potentially earn quarterly income that is significantly greater than what you would expect to receive from the underlying share portfolio.

For example, the S&P 500 currently trades with a 1.4% dividend yield. However, at the last count, this ETF's units were providing investors with a trailing 4.7% yield.

Vanguard Australian Shares Index ETF (ASX: VAS)

Another ASX ETF for income investors to look at buying is the Vanguard Australian Shares Index ETF.

Unlike the first option, this is a more traditional ETF that aims to track the ASX 300 index.

The ASX 300 index is home to Australia's leading 300 listed companies. This includes shares as large as BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), and Telstra Group Ltd (ASX: TLS), and as small as Adairs Ltd (ASX: ADH), GDI Property Group Ltd (ASX: GDI), and Australian Ethical Investment Ltd (ASX: AEF).

And while not all members of the ASX 300 index pay dividends to the shareholders, collectively the ETF still trades with an attractive dividend yield of 3.7%.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

A final ASX ETF for income investors to look at buying is the popular Vanguard Australian Shares High Yield ETF.

This fund gives investors low-cost exposure to a group of 70+ ASX shares that brokers are forecasting to have dividend yields that are larger than the market average.

This includes all the big names such as companies like BHP and CBA, as well as smaller players such as Dicker Data Ltd (ASX: DDR) and Inghams Group Ltd (ASX: ING).

One big positive with this ASX ETF is that it operates with diversity in mind to ensure that you are not just buying banks and miners.

The Vanguard Australian Shares High Yield ETF currently trades with a dividend yield of 4.85%.

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs and Australian Ethical Investment. The Motley Fool Australia has positions in and has recommended Adairs, BetaShares S&P 500 Yield Maximiser Fund, Dicker Data, and Telstra Group. The Motley Fool Australia has recommended Australian Ethical Investment and Vanguard Australian Shares High Yield ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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