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DES vs. ETF Alternatives
WisdomTree SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Dividend Index.
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Country: United States
- In Your Portfolio: A Guide to Dividend ETFs, Core Building Blocks: A Guide to ETFs That Divide the U.S. Stock Market by Market Cap
- Asset Class Performance: Dividends, Market Cap
Wednesday, Apr 912:14 PM
Wednesday, Apr 912:14 PM| 6 Comments
- 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
Friday, Mar 1411:39 AM
Friday, Mar 1411:39 AM| Comment!
- 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
Monday, Feb 243:35 PM
Monday, Feb 243:35 PM| 10 Comments
- Comparing metrics for the two of the more popular dividend strategies - the SPDR S&P Dividend ETF (SDY +0.4%) and the Vanguard Dividend Appreciation ETF (VIG +0.7%) - against the two largest large-cap value ETFs - the Russell 1000 Value ETF (IWD +0.9%) and Vanguard's Value ETF (VTV +0.7%) - Larry Swedroe finds valuations quite stretched for the dividend players.
- The SDY sports a P/E ratio of 17.2x, price/book ratio of 2.5x, and price/cash flow ratio of 10.5x, with the VIG showing similar. The value ETFs have P/E below 14x, price/books below 2x, and price/cash flow below 6x.
- The popularity of dividends has led to a pleasing rise in the values of the stocks, but has thus reduced expected future returns, reminds Swedroe. And for taxable accounts, it's even worse as dividends are less tax-efficient than capital gains.
- Dividend ETFs: DVY, VIG, AMLP, SDY, VYM, AMJ, BDCL, SCHD, HDV, MLPL, YMLP, KBWD, BDCS, DES, PEY, MLPI, SPHD, DIV, DLN, DHS, MLPA, ENY, DTD, DGRW, DON, MLPN, FDL, NOBL, FVD, PFM, EMLP, MLPS, BIZD, MLPG, MLPY, MLPX, MLPJ, SDYL, AMU, YMLI, DVYL, ATMP, DGRS, ZMLP, RDIV, RDVY, MLPW, IMLP, QDYN, ENFR, QDF, QDEF, MLPC
Saturday, Jan 119:00 AM
Saturday, Jan 119:00 AM| 19 Comments
- Ranking about dead last a year ago in Barron's handicapping of where to go for yield, municipal bonds climb nearly to the top for 2014. Long-term issues yield 4.5-5%, towering over the 30-year Treasury at 3.8% ... and don't forget the tax exemption. Credit worries are high, but the "real news is that the credit profile of local governments throughout the U.S. will improve as property valuations rise, local sales and income-taxes increase, and major reform of public employee pension plans accelerates," says John Loffredo, co-manager of the MacKay Shields Municipal High Yield Fund.
- A few closed-end funds trading at discounts to NAV: NIO, NVG, BTT, NPM, NRK, MUC, VCV, NEA, NMA, NAD, ETX, BKN
- Muni ETFs: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, MLN, HYMB, CMF, BABZ, BABS, XMPT, SHM, SUB, PRB, SMB, PZT, NYF, CXA, PWZ, PVI, SMMU, MUAF, INY, MUAD, MUAG, MUAE, VRD, MUAC, GMMB, RVNU
- Topping the list are the best performers from last year: dividend stocks. Even after a big rally, plenty of blue chips yield more than the 10-year Treasury and payouts are still low, says S&P's Howard Silverblatt, who sees a double-digit rise in cash payouts this year.
- 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, NOBL, DOO, DOL, SDYL, DVYL, DEW, IDOG, HGI, DGRS, DNL, DGRE, DVYA, RDIV, QDF, RDVY, QDEF, QDYN, IQDF, EMDG, IQDY, WDIV, IQDE, FIEG
- Near the bottom of the list this year after a big move in 2013 are MLPs, which trade for nearly twice the valuation of utilities and telecom, based on Enterprise Value/EBITDA. Yields are tasty at 5.5%, but many MLPs barely cover their payouts - a contrast to the vast majority of dividend-paying corporations. Stick with MLPs comfortably covering their distributions like EPD and PAA.
- MLP ETFs: AMLP, AMJ, MLPL, YMLP, MLPI, MLPA, MLPN, EMLP, MLPS, MLPG, MLPY, MLPJ, MLPX, AMU, YMLI, ATMP, MLPW, IMLP, ENFR, MLPC
Tuesday, Jan 712:05 PM
Tuesday, Jan 712:05 PM| 6 Comments
- 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
Thursday, Jan 23:03 PM
Thursday, Jan 23:03 PM| Comment!
- The First Trust High Income ETF (FTHI) and Low Beta Income ETF (FTLB) will use index options as a complement to its equity holdings.
- The Nasdaq Rising Dividend Achievers ETF (RDVY) tracks an index of 50 companies with a history of raising payouts, and "that exhibit the characteristics to potentially continue doing so in the future."
- Nasdaq indices are used in a number of well-followed dividend ETFs such as PowerShares' High Yield Dividend Achievers Portfolio (PEY) and PowerShares' Dividend Achievers Portfolio (PFM).
- For its part, FirstTrust's other dividend ETFs include the Nasdaq Technology Index Fund (TDIV) and the Value Line Dividend Index Fund (FVD).
- 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, PFM, FVD, FGD, DOO, NOBL, DOL, SDYL, DVYL, DEW, IDOG, HGI, DGRS, DNL, DGRE, DVYA, RDIV, QDF, QDEF, EMDG, QDYN, IQDF, IQDY, IQDE, WDIV, FIEG
Wednesday, Dec 42013, 1:41 PM
Wednesday, Dec 42013, 1:41 PM| 1 Comment
- DES follows the performance of the small cap segment of the U.S. dividend paying market and is now the 8th WisdomTree (WETF) fund to cross the billion dollar mark.
- Luciano Siracusano, WisdomTree Chief Investment Strategist, commented,
"By weighting the U.S., small cap market by the dividends companies
pay, WisdomTree has been able to create a potential source of income
for investors looking for alternatives in today's low-interest rate
- This ETF has been on the market since 2006 and has attracted investors with its relatively low expense ratio of 0.38% and an average dividend yield of nearly 3%.
- Other billion dollar WisdomTree funds: DXJ, DEM, DGS, DLN, ELD, DTN, EPI
Tuesday, Nov 262013, 11:22 AM
Tuesday, Nov 262013, 11:22 AM| 6 Comments
- In the battle for investor dollars among dividend ETFs, Vanguard's Dividend Appreciation ETF (VIG) has soared past iShares' Select Dividend ETF (DVY) and SSgA's SPDR S&P Dividend ETF (SDY) on both an absolute basis and a s a percentage of AUM.
- From May: Vanguard lowers fees on VIG
- The lesser-known Global X SuperDividend ETF (SDIV) has nearly doubled its AUM this year and - at less than 3 years old - is knocking on the door of $1B in assets despite inconsistent performance. Investors desire for income is certainly a boost as is the fund's equal-weighting approach and monthly payout - which fluctuated wildly in 2012, but has settled into a tight range this year.
- Dividend ETFs: DVY, VIG, SDY, VYM, HDV, SCHD, SYLD, KBWD, DES, PEY, SPHD, DHS, DIV, DLN, DTD, DGRW, FDL, DON, PFM, FVD, NOBL, SDYL, DVYL, DNL, DGRS, DGRE, RDIV, QDF, QDEF, EMDG, QDYN
Friday, Nov 152013, 9:22 AM
Friday, Nov 152013, 9:22 AM| 1 Comment
- Dividend ETF fans may soon have three more funds to choose from as Reality Shares files to launch a trio of ETFs. Tickers and fees have not yet been disclosed.
- The Reality Shares Isolated U.S. Dividend Growth Index ETF and The Isolated Global Dividend Growth Index ETF will both be passive strategies, and the Isolated Dividend Growth ETF will be actively managed.
- The company's edge - so it argues - will be a focus on earnings rather than stock price as the measure of potential returns. Isolating the dividend from the stock price can provide positive returns not directly correlated to broader equity or fixed-income trends, says the company.
- Dividend ETFs: DVY, IDV, VIG, SDY, VYM, SDIV, HDV, SCHD, DWX, SYLD, KBWD, PID, DES, DTN, PEY, SPHD, DIV, DHS, LVL, DLN, DTD, DGRW, FDL, DON, PFM, FVD, FGD, DOO, DOL, SDYL, NOBL, DVYL, DEW, HGI, IDOG, DNL, DGRS, DGRE, DVYA, RDIV, QDF, QDEF, EMDG, IQDF, QDYN, IQDY, WDIV, IQDE, FIEG
Thursday, Jul 252013, 4:52 PMWisdomTree launches the U.S. SmallCap Dividend Growth Fund (DGRS) with expense ratio of 0.38%. It'll join WisdomTree's SmallCap Dividend Fund (DES). Two domestic small-cap dividend funds? DES represents a conservative approach with financials, industrials, and utilities making up 57% of holdings, writes Tom Lydon. DGRS has no exposure to utilities or telecoms, and staples are hardly found. Instead consumer discretionary and tech make up 38% of fund holdings. Other WisdomTree dividend growth ETFs are DNL and DGRW. |Thursday, Jul 252013, 4:52 PM| Comment!
Tuesday, Jan 12013, 10:52 AMSmall-cap dividend ETFs (DES, DLS, DFE, DGS, DFJ, EES) led the pack in 2012 performance domestically and globally, followed by mid-caps (DON, DIM, EZM) and large-caps (DLN, DOL, EPS). Among strategy-based ETFs, it was preferreds (PGF, PFF) and buybacks (PKW) that outperformed. See here for full dividend ETF performance data. |Tuesday, Jan 12013, 10:52 AM| 2 Comments
Tuesday, Nov 62012, 9:29 AM
Thursday, Jan 192012, 9:40 AMDefining overbought as being more than 5% above a 50-day moving average, Bespoke says 24% of tracked ETFs fit the bill. Leading the list is the homebuilders (XHB), more than 13% above its 50 day MA; Brazil (EWZ) leads the country ETFs, 8.2% above. A few more days of market gains and look for talk about the entire market being overbought. |Thursday, Jan 192012, 9:40 AM| Comment!
Saturday, Aug 272011, 8:25 AMThe environment seems to favor healthy dividend stocks, and investors are rushing in ($12.6B in inflows to dividend-stock ETFs this year) - but they may be a "little overrated." Beware dividend traps, an average yield that still isn't that high, and shares that will miss out on any big rally. (More ideas in Investing for Income) |Saturday, Aug 272011, 8:25 AM| 18 Comments
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