ASX dividend shares are popular with savvy Australian investors looking for a regular stream of income and long-term capital growth.
Most ASX dividend-paying stocks pay their investors every quarter, six months or 12 months. And then there are the select few which pay dividends on a monthly-basis.
Here are three of my favorite monthly-paying dividend superstars. And they all pay a yield over 5%.
BetaShares Australian Top 20 Equity Yield Maximiser Fund (ASX: YMAX)
The Betashares YMAX is an ASX-listed exchange-traded fund (ETF) which targets the 20 largest Australian shares on the ASX.
It's a relative newcomer as a monthly-paying dividend stock. Since its inception in April 2013, the fund has been paying quarterly dividends to its shareholders. But effective from January 2026, it was amended to pay out on a monthly basis.
As at 30 January 2026, YMAX ETF has a 12-month gross distribution yield of 8.8% and a 12-month distribution yield of 7.4%. The total 12-month franking level is 42.7%.
Its first-ever monthly dividend payment was paid on the 17th of February, where it handed investors $0.035221 per unit. Another $0.050699 per unit dividend will be paid next week.
BetaShares Dividend Harvester Active ETF (ASX: HVST)
HVST ETF is an ASX-listed exchange-traded fund (ETF) that gives its investors exposure to a large portfolio of up to 60 dividend-paying shares. They're drawn from the 100 largest ASX-listed companies and selected based on forecasts of high dividends and franking credits, and expected future gross dividend payments.
The fund is created in a way that it allows it to own a dividend share until it trades ex-dividend. At this point, the fund sells the shares and reinvests the proceeds into its next passive income-generating shares.
HVST ETF pays investors a regular, franked dividend income that is around double the annual income yield of the broader ASX. As of the 30th of January 2026, its 12-month gross distribution (dividend) yield is 7.3%, and the net yield is 5.7%. The franking level is 65.7%. The fund's annual management fee and costs are 0.72%.
The fund paid out $0.06 per share to investors in late February with another $0.06 per share due to be paid next week.
Metrics Master Income Trust (ASX: MXT)
The Metrics Master Income Trust is a listed investment trust (LIT). The trust has a portfolio of corporate loans and private credit investments rather than a portfolio of other ASX dividend shares.
This means it can give its investors direct exposure to the Australian corporate loan market, a space which is currently dominated by regulated banks. The trust targets a return of the Reserve Bank cash rate plus 3.25% p.a. (net of fees) through the economic cycle.
Its latest payout was 1.17 cents per share unfranked in late-February and is, which is payable next week. At the time of writing, MXT ETF has a dividend yield of 7.97%.
The post 3 ASX monthly dividend stocks yielding over 5% appeared first on The Motley Fool Australia.
Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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