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DNL vs. ETF Alternatives
WisdomTree Global ex-US Growth Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree World ex-U.S. Growth Index. Prior to June 17, 2011, the WisdomTree Global ex-US Growth Fund was named the WisdomTree World ex-US Growth Fund.
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Tuesday, Nov 2611:22 AM
Tuesday, Nov 2611:22 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 159:22 AM
Friday, Nov 159:22 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
Wednesday, Oct 232:58 PM
Wednesday, Oct 232:58 PM| 2 Comments
- Assets in dividend-themed ETFs have ballooned nearly 50% to $80B this year, according to Ned Davis Research, led by Vanguard Dividend Appreciation (VIG) with $3.2B in inflows, the SPDR Dividend ETF (SDY) with $1.2B, and the Vanguard High Dividend Yield ETF (VYM) with $1.6B.
- Meanwhile, ETFs holding U.S. government debt hold just $67B in assets, with funds like the iShares 3-7 Year Treasury Bond ETF (IEI) seeing several hundred million exit, and the iShares TIPS Bond ETF (TIP) losing a whopping $6.9B.
- The team at Ned Davis recommends looking away from the popular dividend plays and towards a lagging emerging-market alternative, the WisdomTree Emerging Markets Small-Cap Dividend Fund (DGS), yielding 3.3% and up 3.8% 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, DGRS, DNL, EMDG, DGRW, VIG, DGRE.
- Global dividend ETFs: AXJL, AUSE, GNAT, DTH, DWM, SDIV, DVYE, EDIV, DEM, FDD, FGD, LVL, PID, DEW, WDIV, IDOG, DTN, DOO, IQDF, IQDE, IQDY, IDV, DVYA, DWX, DOL, CCXE, DIM, GULF, DRW, DBU.
- Small-cap dividend ETFs: DGS, DFE, DFJ, DXJS, DES, DLS.
Thursday, Oct 103:02 PM
Thursday, Oct 103:02 PM| Comment!
- The S&P 500 Aristocrats ETF (NOBL) launched today - the fund homepage outlines the fund strategy of holding only S&P 500 companies that have increased their dividends consistently over the past 25 years.
- To differentiate from current sector leader, SDY, (both have expense ratios of .35%) NOBL places an importance on equal weighting and not allowing any one sector to occupy more than 30% of the fund.
- Relevant dividend growth ETFs: DGRS, SDY, DNL, EMDG, DGRW, VIG, DGRE, NOBL.
Thursday, Sep 121:39 PM
Thursday, Sep 121:39 PM| 4 Comments
- 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, TLL, IDU, PUI, XLU, VPU, RYU, FXU, PSCU, UPW, SDP, UTLT.
Thursday, Jul 254:52 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 254:52 PM| Comment!
Thursday, May 303:39 PMState Street launches the SPDR 1-10 Year TIPS ETF (TIPX), set to track the Barclays 1-10 Year Government Inflation-linked Bond Index. It appears similar in structure to another State Street TIPS fund (IPE), but with an expense ratio 3.5 bps lower at 0.15%. Also launched is the SPDR S&P Global Dividend ETF (WDIV), set to track the S&P Global Dividend Aristocrats Index. It has a cost of 0.40% and joins competitors DEW and LVL, each of those with coming with slightly higher costs. |Thursday, May 303:39 PM| 1 Comment
Monday, Feb 1110:39 AMStocks outdo bonds as the 1.6K companies in the MSCI World Index yield 2.7% vs. 2.6% on the BAML Global Corporate Index, according to Bloomberg. Yielding just 6.1% the gap of junk bonds over equities is at its lowest since 1995. "Increasingly, dynamic capital allocators are being forced to consider equities," says one bullish strategist. |Monday, Feb 1110:39 AM| 1 Comment
Friday, Dec 72012, 3:05 PMStrubel Investment notes the horrid record of managements using cash for buybacks or M&A. Buybacks are simple - companies tend to do them when the share price is high (JPMorgan a classic example: It suspended purchases after the CIO loss with the stock near $30, and will rev them up again next year in the 40's). The top tax rates for dividends would have to rise to 70-80% to make them less valuable than the alternatives. |Friday, Dec 72012, 3:05 PM| 4 Comments
Wednesday, Nov 282012, 11:25 AMWhy does high-yield in reference to bonds signal greater risk to investors, but high-dividend yield in reference to equities does not, wonders a fund strategist. When it comes to dividend ETFs, it pays to consider total return first, writes Paul Britt, as the yield and performance can vary ... widely. |Wednesday, Nov 282012, 11:25 AM| 2 Comments
Wednesday, Nov 142012, 12:36 PM"An attempt to quantify ... a qualitative process," is how Morningstar's Josh Peters describes the creation of the Dividend Yield Focus Index. Most dividend indexes, he says, are entirely backward looking. Instead, Peters looks for an economic moat to protect against a dividend ever being cut. Thus far, it's working: The ETF benchmarked to the index (HDV) is outperforming DVY by a wide margin since the April 2011 launch. |Wednesday, Nov 142012, 12:36 PM| Comment!
Wednesday, Oct 172012, 9:13 PMCurrently weighting U.S. telecoms and utilities at zero in his dividend stock portfolio, Pimco's Brad Kinkelaar notes both sectors are trading at near off-the-chart premiums to their average relative multiple. Dividend investors would do better to look overseas, he says, where one can find companies that are growing, paying good dividends, and trading at better value. An excellent presentation. |Wednesday, Oct 172012, 9:13 PM| 7 Comments
Saturday, Oct 62012, 8:15 AMDespite a Dividend 100 Index up 10% in 2012, dividend bargains are there to be had, especially if you look outside the U.S., Brett Arends suggests. And managers point to three attractive sectors in particular: pharmaceuticals, big energy and telecoms. Individual issues like JNJ, T, VZ and some global oil stocks look good, as well as ETFs like IDV, though it may be financials-heavy. |Saturday, Oct 62012, 8:15 AM| Comment!
Thursday, Sep 272012, 3:06 PM
Thursday, Aug 232012, 4:35 PM"Under the hood analysis" is a must for dividend ETF investors, says WisdomTree's Jeremy Schwartz. Screens at many funds will leave out Apple, for instance, which is now the 3rd largest dividend payer in the U.S. Other techs - now the fastest dividend growers around - face the same issue. Don't forget international exposure, where firms are more likely to pay dividends and offer a higher yield. |Thursday, Aug 232012, 4:35 PM| 3 Comments
Monday, Aug 132012, 11:04 AMJust as with the U.S., dividends on emerging market stocks are the largest contributors to returns over time, and one popular EM dividend fund (DEM) has comfortably outpaced (with lower volatility as well) the MSCI Emerging Markets Fund (EEM) in the 5 years since its incpetion. |Monday, Aug 132012, 11:04 AM| Comment!
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