PowerShares High Yield Equity Dividend Achievers Portfolio ETF
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  • Apr. 9, 2014, 12:14 PM
    • According to S&P Dow Jones, 1,078 companies boosted dividends in Q1, 14.2% more than a year ago, and besting the previous record of 1.069 set in 1979. The dollar amount of increases foots to $17.8B, 22.9% higher than a year ago. A few cut payouts - 102 out of roughly 10K traded issues, and down from 139 a year ago.
    • The weighted dividend yield grew 4 basis points during the quarter to 2.48%, says S&P's Howard Silverblatt. Room to grow even more? Payout ratios continue to scrape by at 36% vs. their historic average of 52%.
    • Dividend ETFs: DVY, VIG, SDY, VYM, SCHD, HDV, KBWD, DES, NOBL, PEY, DIV, SPHD, DLN, DHS, DTD, DON, FDL, DGRW, FVD, PFM, SDYL, DVYL, DGRS, RDIV, RDVY, QDF, QDEF, QDYN, QINC
    | Apr. 9, 2014, 12:14 PM | 6 Comments
  • Mar. 14, 2014, 11:39 AM
    • The First Trust Value Line Dividend Index ETF (FVD +0.2%) has done its job well, writes Morningstar's Abby Woodham, but the 70 basis point expense ratio is "a relic of the days before the ETF price wars." It may have been acceptable a decade ago, but is "unjustifiable" when similar ETFs are available for just a handful of basis points per year.
    • FVD's portfolio looks like a low-vol strategy that emphasizes yield, she writes, and the 5-year standard deviation is one of the lowest among dividend ETFs.
    • Possible alternatives: Vanguard Dividend Appreciation (VIG +0.1%) with 0.10% expenses, Vanguard High Dividend Yield Index (VYM -0.1%) also charging 10 bps, Schwab U.S. Dividend Equity ETF (SCHD +0.1%) - the cheapest in the category at 0.07% - SPDR S&P Dividend (SDY +0.1%) with 0.35% expenses, WisdomTree Equity Income (DHS) with 0.38% expenses, and iShares Select Dividend (DVY +0.3%) charging 0.40%.
    • ETFs: DVY, VIG, SDY, VYM, SCHD, HDV, KBWD, DES, PEY, DIV, SPHD, DLN, DHS, DTD, DON, DGRW, FDL, NOBL, FVD, PFM, SDYL, DVYL, DGRS, RDIV, RDVY, QDF, QDYN, QDEF
    | Mar. 14, 2014, 11:39 AM
  • Mar. 11, 2014, 12:54 PM
    • The First Trust RBA Quality Income ETF (QINC) and RBA American Industrial Renaissance ETF (AIRR) will track their respective Richard Bernstein Advisors indexes; QINC will focus on total return through global firms with strong dividends and capital appreciation potential, while AIRR will invest in both small and mid-cap domestic firms in the industrial and community banking sectors.
    • High dividend ETFs and capital strength ETFs: VYM, HDV, KBWD, PEY, DIV, RDIV, FTCS
    • Regional banking ETFs: KRE, KBE, IAT, RKH, QABA, KRU, KBWR, KRS
    • The Global X Guru Small Cap Index ETF (GURX) and Guru International Index ETF (GURI) are hoping to capitalize on the success of GURU by offering exposure to small-cap and international (respectively) stocks that large hedge fund managers hold.
    • Broad hedge fund replication ETFs: QAI, MCRO, HDG, QEH
    | Mar. 11, 2014, 12:54 PM
  • Feb. 24, 2014, 3:35 PM
    | Feb. 24, 2014, 3:35 PM | 10 Comments
  • Jan. 11, 2014, 9:00 AM
    | Jan. 11, 2014, 9:00 AM | 19 Comments
  • Jan. 7, 2014, 12:05 PM
    • Q4 net dividend increases of $12.7B compared to $8.4B in 2012 Q4, according to S&P. The number of increases (885), however, pales in comparison to the 1,266 "tax-incentivized" hikes from a year ago (there were 649 in 2011).
    • Of roughly 10K traded stocks, 51 companies cut payouts in Q4 compared to 154 in the year-earlier quarter.
    • Room for more hikes? S&P's Howard Silverblatt notes payout rates - which historically average 52% - continue to remain near their low of 36%. "At this point, we expect Q1 to be a very busy positive period for dividends, with 2014 setting another record for payments."
    • The weighted dividend yield off 2.44% compares to 2.6% in Q3 and 2.8% in Q4 of 2012 as boosted payouts aren't quite keeping pace with the strong advance in equity prices.
    • Dividend ETFs: DVY, IDV, VIG, SDY, VYM, SDIV, HDV, SCHD, DWX, KBWD, PID, DES, DTN, PEY, SPHD, DIV, DHS, DLN, LVL, DTD, DGRW, DON, FDL, FVD, PFM, FGD, DOO, NOBL, DOL, SDYL, DVYL, DEW, IDOG, HGI, DGRS, DNL, DGRE, DVYA, RDIV, QDF, QDEF, QDYN, EMDG, IQDF, IQDY, IQDE, WDIV, FIEG
    | Jan. 7, 2014, 12:05 PM | 6 Comments
  • Jan. 2, 2014, 3:03 PM
    | Jan. 2, 2014, 3:03 PM
  • Nov. 26, 2013, 11:22 AM
    | Nov. 26, 2013, 11:22 AM | 6 Comments
  • Nov. 15, 2013, 9:22 AM
    | Nov. 15, 2013, 9:22 AM | 1 Comment
  • Oct. 23, 2013, 2:58 PM
    | Oct. 23, 2013, 2:58 PM | 2 Comments
  • Oct. 21, 2013, 3:05 PM
    • Dividend stocks have historically worked because of their value tilt, says ace researcher and portfolio manager Mebane Faber. A rash of fund offerings have distorted the asset class though - typically trading at a 20-40% valuation discount to the broad market, high yielders from defensive sectors are now at premiums, and record premiums at that. Buyer beware.
    • Faber himself runs the actively-managed Cambria Shareholder Yield ETF (SYLD), which adds buybacks and debt repayments to dividends to create a "shareholder yield" from which selections are made.
    • Dividend ETFs: VIG, FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
    | Oct. 21, 2013, 3:05 PM | 3 Comments
  • Oct. 13, 2013, 9:01 AM
    • ETFs which have expanded their view of "yield" to include shareholder-friendly activity such as buybacks and paying down debt continue to outperform the general dividend universe as well as the broader market.
    • Mebane Faber's 5-month old $122M Cambria Shareholder Yield ETF (SYLD) has a forward dividend yield of 2.9% - slightly higher than VIG or SDY, and a bit less than DVY - but what Faber calls "a net buyback yield" of 5.6%. It's up 9.2% in its short history vs. 2% or less for the other funds and 3% for the S&P 500.
    • TrimTabs' Float Shrink ETF (TTFS) goes even further - disregarding dividends entirely to pick 100 of the Russell 3000 companies rapidly reducing outstanding shares while also screening for profitability and low debt. And reducing shares doesn't just mean buybacks: Carl Icahn's Herbalife investment put more than 15% of the stock outside of the free float according to TTFS' managers, thus allowing its inclusion in the fund. Sirius XM Radio was added after Liberty Media's decision to convert its preferred stake into common. The fund's nimbleness makes it pricey with a 0.99% expense ratio. It's ahead of the S&P 500 by more than 1000 bps YTD.
    • See also: PowerShares' Buyback Achievers Fund (PKW), the oldest and largest of the group, and ahead of the S&P by 1300 basis points this year.
    • Dividend ETFs: FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
    | Oct. 13, 2013, 9:01 AM
  • Oct. 1, 2013, 9:25 AM
    | Oct. 1, 2013, 9:25 AM | 4 Comments
  • Sep. 12, 2013, 1:39 PM
    • Dividend payers may be a good place to hide out from rising interest rates, but those stocks sporting the highest yields - telecoms and utilities - tend to have slow payment growth, making them less-attractive as rates rise. Checking back to the 1994 bond bear market, telecoms and utilities were among the market's worst performers.
    • Better to shop for modest payers, but above-average payment growth. Barron's screens for those characteristics combined with reasonable overall valuation and turns up three names: Boeing (BA), CVS Caremark (CVS), and GE.
    • Certain dividend ETFs employ this strategy as well, with Vanguard's Dividend Appreciation (VIG) - almost zero exposure to telecoms and utilities  - and WisdomTree's U.S. Dividend Growth ETF (DGRW) coming to mind. Others include DGRS, DNL, EMDG, DGRE.
    • Other dividend ETFs: FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
    • Telecom and utility ETFs: IYZ, XTL, VOX, LTL, TLLIDU, PUI, XLU, VPU, RYU, FXU, PSCU, UPW, SDP, UTLT.
    | Sep. 12, 2013, 1:39 PM | 4 Comments
  • Aug. 21, 2013, 8:47 AM
    • Investors have been overpaying for dividend stocks while undervaluing those firms buying back shares, Oakmark's Bill Nygren tells the crew at Fast Money. Investors should treat both the same, but the stocks of repurchasers aren't as expensive, he says.
    • Previous: Buyback ETFs outpacing market and dividend funds.
    • Among his favorite picks are Bank of America (BAC) and JPMorgan (JPM). "What we see here is really low P/Es relative to the market and relative to their own history ... These companies sell at about 8x the level that we think they'll earn after the legacy mortgage costs stop going through the income statement."
    • Other top picks are Apache (APA) - selling assets for close to full value and buying back shares - Haliburton (HAL) - which has tendered to repurchase 4-5% of its shares - and DirecTV (DTV) - also buying back stock.
    • Buyback ETFs: PKW, TTFS.
    • Dividend ETFs: FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
    | Aug. 21, 2013, 8:47 AM | 8 Comments
  • Aug. 20, 2013, 4:13 PM
    • There are four key points writes ukarlewitz in The Fat Pitch:
    • Retail and professionals have already made a big move out of fixed income. Trim Tabs estimates bond fund and ETF outflows in August will be the 4th largest ever - nearly 3% of assets have left in 3 months. Individual investors' holdings of bonds fell in July to a 4-year low and are likely lower now. For professionals, a BAML survey has 97% believing yields will be higher a year from now.
    • Fund manager weightings are at the bottom of a long-term range. A further big move down would be unprecedented. 57% are underweight bonds, the highest since the 2011 bottom in bond prices.
    • The recent change in yields looks to be out of proportion to actual economic data. The market is behaving as if the economy is at a 1987, 1995, or 2004 inflection point where unemployment falls low enough to send rates shooting higher. It just isn't so yet.
    • Bond yields are close to stabilizing or maybe turning lower - positive not just for TLT, but for other yield assets like dividend stocks (DVY), and mortgage REITs (REM).
    • Long-duration Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, DSTJ, DSXJ, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.
    • Dividend ETFs: FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
    • Mortgage REIT ETFs: MORT, MORL.
    | Aug. 20, 2013, 4:13 PM | 17 Comments
PEY Description
The PowerShares High Yield Equity Dividend Achiever Portfolio (Fund) is based on the Dividend Achiever 50 Index (Index). The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.
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