The dividend yield from the S&P 500, as distributed by index funds such as "SPY", is around 1.9% right now. But simply buying those index funds for the dividend yield alone can be very risky.
In early 2020, the S&P 500 dropped 34% in 1 MONTH, taking everything including index funds down with it.
In 2000 and 2008-2009, the S&P suffered even greater hits and it took many YEARS for investors to recover!
However, there is a better way to use the S&P 500 to generate income rates of 5% or better, and it entails little or no risk.