With interest rates tipped to fall further this year, the share market is quickly becoming the place to be for passive income.

But if you're not a fan of stock-picking, don't worry. That's because there are exchange traded funds (ETFs) out there to save the day.

The beauty of ETFs is that they provide instant diversification through access to large number of quality dividend payers with a single click of the button.

With that in mind, here are three top ASX ETFs to consider for passive income this May. They are as follows:

Vanguard Australian Shares High Yield ETF (ASX: VHY)

If you're looking for consistent income from homegrown companies, the Vanguard Australian Shares High Yield ETF is hard to ignore.

This ETF tracks an index of quality Australian companies with above-average dividend yields, drawing from sectors like financials, energy, and consumer staples. It includes household names like Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP), and pays distributions quarterly — a big plus for income-focused investors.

While it won't shoot the lights out on capital growth, this fund is designed to deliver strong, reliable income, making it a strong foundation for any passive income strategy. It currently trades with a 5.1% dividend yield.

BetaShares S&P 500 Yield Maximiser (ASX: UMAX)

For income investors wanting to diversify their income streams beyond the ASX, the BetaShares S&P 500 Yield Maximiser ETF could be worth considering.

This fund has been designed to generate as much income as possible from the top 500 companies listed on Wall Street through a covered call strategy. This includes giants such as Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Walmart (NYSE: WMT).

This strategy means the ASX ETF has been able to provide investors with significantly better dividend yields than you would get by just investing in the 500 companies individually. For example, at present, the ETF offers a 12-month trailing distribution yield of 4.7%.

Betashares Australian Cash Plus Fund (ASX: MMKT)

Finally, a very different option for income investors to consider. It is the Betashares Australian Cash Plus Fund.

Betashares believes that this ASX ETF could be a top pick for investors that are seeking an enhanced yield from their core cash allocation.

The fund manager recently highlighted that "MMKT provides monthly income to investors by offering diversified exposure to not only Australian bank deposits, but also a range of more sophisticated money market securities usually only available to institutional investors."

The fund currently trades with a trailing dividend yield of 4.5%.