Investing in dividend exchange-traded funds (ETFs) can be a simple way to earn passive income on a relatively risk-adjusted basis. During recessions, blue chip dividend stocks with strong fundamentals tend to fare well compared to growth investments.

Another relatively safe investment is U.S. treasury yields which will most likely continue to rise throughout the end of the year as the Fed has two meetings left. The Fed could hike interest rates in its November and December meetings as it has not seen inflation drop at a steady pace.

All three of these ETFs are down year-to-date but could offer an attractive buy to hedge against inflation and a looming recession.

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Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares (NASDAQ:VTIP) has an estimated dividend of $3.034 or per share annually with a yield of 6.35%, making quarterly payments, with an infrequent track record of increasing its dividends.

Vanguard Short-Term Inflation ETF seeks to track the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0- to 5-Year Index.

The fund was designed to generate returns more closely correlated with realized inflation over the near term and to offer investors the potential for less volatility of returns relative to a longer-duration TIPS fund.

Global X Funds S&P 500 Covered Call ETF (NYSE:XYLD) has an estimated dividend of $5.21 per share annually with a yield of 13.09%, conducting monthly payments, with a track record of paying its dividends for nine years.

Global X Funds ETF follows a "buy-write" strategy, in which the fund buys the stocks in the S&P 500 Index and "writes" or "sells" corresponding call options on the same index.

The Global X Funds' top three holdings include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN).

Amplify CWP Enhanced Dividend Income ETF (NYSE:DIVO) has an estimated dividend of $1.73 per share annually and a dividend yield of 4.97%, through monthly payments, with a track record of increasing its dividends once in the past year.

Amplify CWP ETFs top three holdings include Chevron Corporation (NYSE:CVX), UnitedHealth Group Inc. (NYSE:UNH), McDonald's Corp (NYSE:MCD)

DIVO is an actively managed ETF of high-quality large-cap companies with a history of dividend growth, along with a tactical covered call strategy on individual stocks.

The estimated dividend is typically calculated by first annualizing the most recent distribution and then dividing that by the most recent close price. Estimated dividend rates were calculated from Fidelity.

What's going on with other companies' dividends? Click here to check out Benzinga's Dividend Calendar.

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