I have invested in a Dividend Harvester ETF. (BetaShares HVST , but I'm sure there are many others out there) Since I have it, it payed me a dividend every month.
The ETF price itself, tracks pretty much the share price of the underlying (AU) companies. So it looks you have a similar investment risk, as in the underlying shares.
I choose it for the convenience and so far it works for me. Next step for me it to look in a similar ETF, that has global exposure to diversify further.