Investors can find plenty of great exchange-traded funds (ETFs) to generate income. Which Vanguard ETFs offer the highest dividend yields? The SEC yield, by the way, is a metric developed by the SEC to help investors compare funds.

While all ETFs are different, there are two Vanguard funds I personally own and plan to continue buying for decades. An S&P 500 ETF tracks the S&P 500 ( ^GSPC 1.00%), meaning it includes all the stocks within the index. These stocks come from 500 of the largest companies in the U.S. across all corners of the market.

With such a wide range of potential outcomes this year, risk management and value capture will be important themes.

Its smart to seek income from your investments -- whether it's because you need that income to support yourself in retirement, or whether you want to use it to invest in more stocks. It's also a fine idea to seek that passive income from exchange-traded funds (ETFs) that are focused on dividend-paying shares.

Creating a well-diversified portfolio through individual stock selection requires extensive research, constant monitoring, and significant time commitment. Low-cost exchange-traded funds (ETFs) offer a simpler path to diversification and staying invested for the long term.