最新ニュース SPDR S&P Dividend ETF (ARCA:SDY)

SPDR S&P Dividend ETF

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The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the performance of the highest dividend yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 20 consecutive years.

Realty Income Corp.

Kenvue Inc

Chevron Corp.

International Business Machines Corp.

Xcel Energy Inc.

Edison International

Abbvie Inc.

Consolidated Edison Inc.

Southern Co.

Medtronic Plc

According to the daily charts, this <a href="https://www.benzinga.com/etfs">exchange-traded fund</a> with a high dividend yield of 3.67% has been under pressure as it has fallen below its short-term moving averages in the oversold territory.
What Happened: Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>), which has an expense ratio of 0.06% and pays an annual dividend of $1.05 has declined 3.20% over the last month, as of Monday&#8217;s close. The ETF made its last dividend payment on Dec. 16, for the current year.
From a technical perspective, the analysis of daily moving averages indicates that the ETF may be under pressure in the short term.
The ETF ended at $27.87 apiece on Monday. This was below its eight and 20-day simple moving averages, of $28.30 and $28.82, respectively. As per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, its current price was also lower than the 50-day moving average at $28.65.
However, the stock was above its 200-day moving average of $27.15, which implies that it could still be in a long-term uptrend while it is testing fresh support levels near the average value.
This trend combined with a relative strength index of 31.22 could mean that the ETF must be experiencing a bearish short-term trend but a price reversal is possible as it is near the oversold levels.
There is a possibility that the ETF is taking a breather and it could stage a strong comeback. Historically, stocks and other assets often retreat after rising to a crucial level and then bounce back.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech-1024x576.png" alt="" class="wp-image-695645" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17073739/SCHD-Chart-Tech.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/24/12/42513306/elon-musks-tesla-nearly-5-times-more-expensive-than-industry-average-stock-surges-over-60-since-election">Elon Musk&#8217;s Tesla Nearly 5 Times More Expensive Than Industry Average: Stock Surges Over 60% Since Election</a>
Why It Matters: When compared to its peers, the Schwab U.S. Dividend Equity ETF has the highest dividend yield for the least amount of expense ratio, <a href="https://www.nasdaq.com/market-activity/etf/schd/dividend-history">according to Nasdaq&#8217;s data</a>.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Dividend ETFs </td>
<td>Expense Ratio </td>
<td>Dividend Yield </td>
<td>Annual Dividend</td>
</tr>
<tr>
<td>Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>) </td>
<td>0.06% </td>
<td>3.67% </td>
<td>$1.058</td>
</tr>
<tr>
<td>Vanguard High Dividend Yield Index Fund ETF Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYM#NYSE">VYM</a>) </td>
<td>0.06% </td>
<td>2.58% </td>
<td>$3.404</td>
</tr>
<tr>
<td>iShares Core Dividend Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGRO#NYSE">DGRO</a>) </td>
<td>0.08% </td>
<td>2.54% </td>
<td>$1.6123</td>
</tr>
<tr>
<td>iShares Core High Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDV#NYSE">HDV</a>) </td>
<td>0.08% </td>
<td>4.23% </td>
<td>$4.9179</td>
</tr>
<tr>
<td>SPDR S&amp;P Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SDY#NYSE">SDY</a>) </td>
<td>0.35% </td>
<td>2.27% </td>
<td>$3.1408</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"><a href="https://www.nasdaq.com/market-activity/etf/schd/dividend-history">Source: Nasdaq</a></figcaption></figure>
However, on a year-to-date basis, Schwab U.S. Dividend Equity ETF has the poorest performance when compared to its peers.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Dividend ETFs </td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Schwab U.S. Dividend Equity ETF</td>
<td>9.04%</td>
</tr>
<tr>
<td>Vanguard High Dividend Yield Index Fund ETF Shares </td>
<td>17.32%</td>
</tr>
<tr>
<td>iShares Core Dividend Growth ETF </td>
<td>17.14%</td>
</tr>
<tr>
<td>iShares Core High Dividend ETF </td>
<td>10.77%</td>
</tr>
<tr>
<td>SPDR S&amp;P Dividend ETF</td>
<td>9.44%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Google Finance</figcaption></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/24/12/42502069/gold-poised-for-its-best-year-in-a-decade-while-bitcoin-surges-analysts-eye-2025-as-a-golden-era-for-precious-metal-amid-michael-saylors-push-for-btc-as-a-reserve-asset" target="_blank" rel="noreferrer noopener">Gold Poised For Its Best Year In A Decade While Bitcoin Surges: Analysts Eye 2025 As A Golden Era For Precious Metal Amid Michael Saylor's Push For BTC As A Reserve Asset</a></li>
</ul>
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SCHD

This High Yield Dividend ETF Is Signaling Bearish Trends: Is Trouble Brewing?

Congratulations! You&rsquo;ve saved a million dollars for your retirement. That&rsquo;s no chump change and should provide you some peace of mind and residual income. But, how can you maximize that?&nbsp; Where can you put your money, to let your money best work for you? By comparing the most popular investments, you can understand which investment type(s) are the best fit for your desired retirement lifestyle. 
&nbsp;
Certificates of Deposit - High Yield Savings Account
These two methods probably involve the least amount of risk, which explains the (relatively) low reward.&nbsp; CDs are instruments issued by banks that require a minimum deposit and pay you interest at regular intervals. The terms on these vary greatly, as you could have a CD with a term of 3 months or over ten years.&nbsp; The term is the biggest differentiator between CDs and High Yield Savings, as your CDs will sit until the term has been completed, whereas High Yield Savings are much more accessible.
The minimal risk is because of the guaranteed fixed interest rate and CD accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor, for each account category, in the event of a bank failure.&nbsp; Generally speaking, a CD will pay more interest than a High Yeild Savings account.&nbsp; The math is the same, so we&rsquo;ll focus on a CD. Currently, the average rate of Marcus by Goldman Sachs CD is 2.6%.
Year One: $1,000,000 x 2.6% = $26,000
Year Two: $1,026,000 x 2.6% = $26,676
Year Three: $1,052,676 x 2.6% = $27,369.58
Year Four: $1,080,045.58 x 2.6% = $28,081.19
Year Five: $1,108,126.76 x 2.6% = $28,811.30
Five Year Total: $1,136,938.06
To adjust for personal rates, deposit amount, inflation, etc. you can use various online <a href="https://www.calculator.net/cd-calculator.html?cstartingprinciple=1%2C000%2C000&amp;cinterestrate=2.6&amp;ccompound=annually&amp;cyears=5&amp;cmonths=0&amp;ctaxtrate=0&amp;cinflationrate=0&amp;printit=0&amp;x=51&amp;y=23#cdresult">calculators</a> to help you plan.
Bonds
These are another relatively safe bet for your money, and a safer way to take advantage of compounding interest.&nbsp; A bond is essentially a loan one gives to a creditor of some kind - company or government entity. In exchange, you will receive a specific yield from them.&nbsp; In order realize your compounding interest, you&rsquo;ll have to reinvest the interest paid.&nbsp; Be sure to set your finances up to automatically be reinvested.
U.S. Treasury securities are backed by the full faith and credit of the U.S. government, but don&rsquo;t have the same potential as Long-Term Corporate bonds.&nbsp; Long-Term Corporate bonds, while potentially more profitable, are much riskier than its Treasury counterpart.
Bonds of any kind carry a bit more risk than CDs and High Yield Savings, as bond prices can fluctuate.&nbsp; As prevailing interest rates increase, existing fixed-term bonds can decrease in price, and vice versa. YCharts has the Treasury&rsquo;s long term average at 4.27%
Year One: $1,000,000 x 4.27% = $42,700.01
Year Two: $1,042,700 x 4.27% = $44,523.31
Year Three: $1,087,223.29 x 4.27% = $46,424.43
Three Year Total = $1,133,647.72
REITs
When it comes to Real Estate, your returns vary greatly depending on the route you want to take.&nbsp; You could take your million and purchase your own property or properties and rent them out accordingly. Or, you could choose something more hassle-free and invest in a REIT (Real Estate Investment Trust).
REITs come in all shapes and sizes, vary by sector and industry, etc.&nbsp; So, it will important for you to do research and invest where you feel most comfortable.&nbsp; Do you want to invest in storage units? High end apartments? Low income housing? Farmland?&nbsp; These are all <a href="https://www.benzinga.com/money/best-options-to-buy-this-week/">options</a> and carry their own pros and cons.&nbsp;&nbsp;
In general, REITs tend to do well; between 2010 and 2020, the index&#39;s average annual return was 9.5%.&nbsp; More recently, the three-year average for REITs between November 2017 and November 2020, checked in at 11.25%, well above the S&amp;P 500.
REITs are not without risk though, most notably potential tax liabilities since their dividends are taxed as ordinary income.&nbsp; That being said, the high yield dividends, the diversification it provides, and the liquidity associated, typically make REITs very attractive. The shine of REITs won&rsquo;t dull as long as the return can continue to remain near 10%.
Year One: $1,000,000 x 9.5% = $95,000
Year Two: $1,095,000 x 9.5% = $104,025
Year Three: $1,199,025 x 9.5% = $113,907.38
Three Year Total = $1,312,932.38
Dividend Stocks
Stocks in general are typically an appealing investment opportunity.&nbsp; There is certainly a risk, especially currently.&nbsp; There is volatility in the market, but returns over long stretches have been generally pretty positive.&nbsp; If you&rsquo;re willing to wait long term, you&rsquo;ll probably see a return. Dividend stocks, however, are even more appealing.
Dividend stocks can pay in multiple ways, if the underlying asset can keep increasing in value while paying out dividends. This investment can earn compound interest if the payouts are reinvested.
Consider the Dividend Aristocrats, an exclusive club with historically impressive performance and incredibly high standards. At minimum, companies must be a member of the S&amp;P 500, increased the annual total dividend per share for at least 25 straight years, and have an average daily trading amount of at least $5 million.
The S&amp;P 500 Dividend Aristocrats index has returned an annual average of 18.3% over the past 10 years, compared with 17.1% (including dividends) for the S&amp;P 500 as a whole. Usually, higher returns indicate higher risk, but the Aristocrats have achieved their returns with less volatility than the full S&amp;P.
Consider the SPDR S&amp;P Dividend ETF, NYSEARCA:SDY, which relies heavily on the aristocrats but utilizes more than just that collection. The ETF includes 118 stocks, each of which have consistently raised its dividend. The fund itself has seen annual dividend increases for seven straight years, with the dividend rising at a five-year compound annual growth rate of 11%.
Year One: $1,000,000 x 11% = $110,000
Year Two: $1,110,000 x 11% = $122,100
Year Three: $1,354,200 x 11% = $148,962
Three Year Total: $1,503,162
Investing Tips
The examples above paint a picture of guaranteed returns, but that&rsquo;s not always the case.&nbsp; America&rsquo;s economy has seen a largely unprescednted run of success, prior to this year.&nbsp; Inflation is high, and the market is down. Invest carefully, and attempt to minimize risk by diversifying your portfolio.&nbsp;&nbsp; 
A million dollars is a nice chunk of money to invest in retirement, don&rsquo;t put it all in one place.&nbsp; Instead, utilize all methods mentioned in this article.&nbsp; If you&rsquo;re uncomfortable with doing this on your own, find an investor or <a href="https://investmentfirms.com/">investment firm</a> near you, and get started today.

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Your $1 Million Dollar Retirement - What Will Earn You The Most On Interest?

Jon Najarian said on <a href="https://www.cnbc.com/video/2021/08/19/final-trades-bristol-myers-tapestry-more.html">CNBC&#39;s &quot;Fast Money Halftime Report&quot;</a> he bought Tapestry Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpr#NYSE">TPR</a>) on Thursday. The company reported managed to post better than expected earnings and gave great guidance, but the stock dropped around 3% on the day. Somebody stepped in and bought calls that expire next week, so Najarian jumped in and followed the trade.
Liz Young would buy dividend payers that are high quality and show consistent raises over time. One way to do it is through SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>).
Josh Brown said Bristol-Myers Squibb Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) is flirting with the new 52-week high and it&#39;s going higher.
Stephen Weiss is a buyer of GXO Logistics Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gxo#NYSE">GXO</a>). He said it goes much higher.

Media

'Fast Money Halftime Report' Picks For August 19

Stock trading is fraught with risks, and it exposes traders to situations&nbsp;where they can end up losing all their money -- or end up laughing all the way&nbsp;to the bank.
Uncertain Backdrop: The current macroeconomic and geopolitical environment has created a fluid environment. Notwithstanding the uncertainties, the market has continued to grind higher despite the COVID-19 pandemic and sneak&nbsp;into record territory.
The broader S&amp;P 500 Index, which plunged sharply earlier this year amid the onset of the pandemic, has rebounded nicely after hitting a bottom in late-March. Since scaling a peak of 3,588.11 in early September, the broader gauge has gone into&nbsp;consolidation mode, assimilating the strong gains.
With the uncertainty surrounding the U.S. presidential election and the bickering among lawmakers on stimulus to kickstart the sagging economy, stocks began moving southwards in mid-October. This has conjured up visions of an imminent pullback, which could precipitate a crash. While the outcome of the election has lifted markets, rising COVID-19 cases could put a scare into the markets once again.
How should you prepare for a sudden downtown?
Identifying a Crash:&nbsp;A bear market is a pullback in excess of 20% from a recent high. A stock market crash can broadly be defined as a sudden and steep decline in stock prices within a very short interval of time. When stocks begin to fall, the already-weak investor sentiment worsens further. Fear becomes the dominant emotion, taking over from greed, and this leads to incessant selling, wiping away millions in market value from stocks.
History of Stock Market Crashes: Among the biggest recorded stock market crashes in the history of the U.S. are:
The stock market crash of 1929 
The stock market crash of 1987 
The dotcom bubble burst of 1999-2000 
The 2008 crash in the wake of the Great Recession that followed the<a href=" https://www.benzinga.com/news/20/09/14437130/this-day-in-market-history-lehman-brothers-collapses">&nbsp;Lehman Brothers&nbsp;bankruptcy</a>.
Related Link: <a href=" https://www.benzinga.com/trading-ideas/long-ideas/20/02/15418441/3-safe-etfs-if-a-stock-market-correction-comes-calling"> 3 &#39;Safe&#39; ETFs If A Stock Market Correction Comes Calling </a>
For those jittery investors, panicking over potential losses, here are a few guidance points that can help you to stay sane amid the pandemonium.
Allow the Turn of Events to Run Its Course: Having a clear mind is very important in investing. Knee-jerk reactions, which burn a hole in the pocket, should be avoided at any cost. Fear and panic should be kept in check.
It is better to keep in mind the maxim &quot;buy low and sell high.&quot;
Panicking and pressing the sell button at a time when the stock market crashes will only leave an investor poorer, shutting them&nbsp;out of the opportunity of capitalizing on a market rebound.
If we go back in history, stock markets around the globe have survived some serious crashes and have emerged stronger.
The most recent crash amid the Great Recession saw the S&amp;P 500 hitting a low of 666.79 on March 6, 2009. Cut to a little over a decade from there, the index has added more than 400%.
It&#39;s just a matter of waiting out the adversity with ample patience.
Stay Immune to the Noise Around: With the mushrooming of the so-called stock market pundits, who have an opinion at every turn of the stock market, it is quite natural to be swayed by their recommendations and warnings.
At least, in times of crises such as a market crash, it is advisable to shut out of the cacophony. Heeding the advice of every expert only lends to&nbsp;more confusion, making it harder&nbsp;to think rationally.
Instead, stay focused on investment goals and look at a longer time horizon to ride out the volatility.
Turn Adversity Into Opportunity: As the saying goes, an optimist finds opportunity even amid adversity. Be that optimist who still sees the rosier side of dark times. Here are some things an investor can do to capitalize on a market downturn:
Scout for stocks of profitable companies that pay out dividends. Dividends make for a steady stream of income that accrues to an investor. It is paid out of the net income earned by the company. Apart from coming in handy for meeting expenses, dividends can also be used for reinvesting.
One can invest in a fund or ETF investing purely in <a href=" https://www.benzinga.com/trading-ideas/long-ideas/20/03/15697866/7-safe-dividend-plays-for-2020"> dividend-paying stocks </a> such as the Vanguard Dividend Appreciation Index Fund ETF Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vig#NYSE">VIG</a>) and SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>).
Consider bonds. Bonds also fetch fixed income in the form of interest.
Buy recession-proof or defensive stocks such as consumer staples that can withstand the stock market sell-off.
Diversify your risk by investing in a portfolio or an ETF.
Avoiding herd mentality, maintaining one&#39;s sanity in the face of adversity, cutting out noise and devising a prude investment plan for the down time will serve an investor well during times of a stock market crash.
Related Link: <a href=" https://www.benzinga.com/analyst-ratings/analyst-color/20/03/15518424/how-to-play-the-2020-stock-market-crash-like-1987-2000-or-2008"> How To Play The 2020 Stock Market Crash: Like 1987, 2000 Or 2008? </a>

Bonds

A Strange Year Prompts The Question: How To Survive A Stock Market Crash?

When the economy transitions from expansion to contraction and the market transitions from a bull to a bear, investors can&rsquo;t expect all the same stocks and funds to outperform and the same investing strategies to continue to work.
Economic fears due to the spread of the COVID-19 coronavirus has led the market to plummet in the past month, with the Dow Jones Industrial Average falling from the 30,000 level to under 19,000 earlier this week.
Investors priorities flip from maximizing gains to minimizing risk, and buying volume rotates into brand new pockets of the market. The past few weeks of trading in the market may seem like total chaos, but a closer look reveals certain groups of stocks and funds are outperforming others.
Here are eight ETFs to consider that could outperform during a U.S. recession.
Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, <a href="https://benzinga.us7.list-manage.com/subscribe?u=360cb137f817ffe23656afe49&amp;id=e57f24ad9b">sign up for our coronavirus newsletter</a>.
<h3>1. Health Care SPDR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlv#NYSE">XLV</a>)</h3>
The health care sector is one of the main sectors of the economy that has historically been a defensive place for investors to put their money during economic downturns.
While other businesses are shutting down amid the COVID-19 outbreak, demand for health care services is booming. In the longer term, the fact that former Vice President Joe Biden has surpassed Senator Bernie Sanders as the likely Democratic presidential candidate further eliminates risks associated with a radical overhaul of the U.S. health care and pharmaceutical industries.
In the past month, the XLV ETF is down just 21.6% compared to a 29.5% drop by the overall S&amp;P 500.
<h3>2. Utilities SPDR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlu#NYSE">XLU</a>)</h3>
Another potential place for investors to find safety during a recession is Utility stocks. In addition to its relative stability and downside valuation protection, the XLU ETF pays a generous 4.6% dividend yield.
Utilities have historically outperformed during economic downturns because Americans must keep the lights on and water flowing no matter how bad it gets. Many utilities have limited competition and operate under strict government regulations, which further serve to create a stable earnings and revenue environment.
Utilities may not be a sexy investment, but they can be an excellent source of reliable dividend income while interest rates are at 0%.
<h3>3. Consumer Staples Select Sect. SPDR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlp#NYSE">XLP</a>)</h3>
Another market sector that performs relatively well when the economy tanks is the consumer staples sector.
When Americans cut their spending in times of uncertainty, those cuts don&rsquo;t typically include toothpaste, toilet paper and laundry detergent. Consumer staples stocks are relatively recession-resistant, making them safe places to invest during market downturns. Over the past month, the XLP ETF is down just 19.4%, making it the best-performing SPDR sector ETF of all.
As an added bonus, the XLP ETF pays a 3.1% dividend, so investors can get paid while they wait for the economy to recover.
<h3>4. SPDR S&amp;P Dividend (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>)</h3>
Not only do dividend stocks and ETFs provide yield for investors when interest rates are nearly 0%, many dividend stocks actually outperform the broad market during economic downturns. The SDY ETF pays a 3.3% yield, which is leaps and bounds better than the interest rates you&rsquo;ll find these days in U.S. Treasuries, high-yield savings accounts or certificates of deposit.
The risk in buying high-yield dividend stocks is that the economic hardship will trigger a dividend cut. But dividend ETFs such as the SDY, which holds 120 different stocks, provide the type of diversification that protects against individual dividend cuts.
<h3>5. VANGUARD IX FUN/RL EST IX FD ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vnq#NYSE">VNQ</a>)</h3>
Real estate is another popular flight-to-safety investment, and real estate investment trusts often pay extremely high yields.
The VNQ ETF holds 181 different investments that cover roughly two-thirds of the entire U.S. REIT market. Real estate has historically had relatively low correlation to traditional stocks and bonds, making the VNQ fund an excellent source of portfolio diversification. Investors also don&rsquo;t have to worry about REIT dividend cuts as they are obligated by law to distribute 90% of income to investors.
The VNQ ETF currently pays a 5.5% yield and has an expense ratio of just 0.12%.
See Also: <a href="https://www.benzinga.com/government/20/03/15606177/ray-dalio-whats-happening-in-the-markets-has-not-happened-in-our-lifetime">Ray Dalio: What&#39;s Happening In The Markets Has Not Happened In Our Lifetime</a>
<h3>6. SPDR Gold Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gld#NYSE">GLD</a>)</h3>
The classic safe-haven investment during times of economic turmoil is gold. There are plenty of reasons investors buy gold during recessions. They argue that there is a limited quantity of physical gold in the world, although gold miners add roughly 3,300 tons of gold to the global supply annually. Gold buyers also see the precious metal as a hedge against inflation that could be triggered by central bank stimulus over time.
Whatever the reason, the GLD ETF is down just 2.4% year-to-date, insulating investors from the majority of the broad market sell-off.
<h3>7. ISHARES TR/EDGE MSCI INTL VALU (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ivlu#NYSE">IVLU</a>)</h3>
Another way for investors to protect themselves during a recession is to rotate from growth stocks to value stocks.
Value stocks typically have high profit levels relative to their share prices and tend to generate strong cash flows, have stable revenues and carry relatively low debt levels. Self-funding, blue-chip companies can be insulated from the type of uncertainty that is created if credit markets start to tighten. Many of these stocks also pay dividends.
The IVLU is one good way for U.S. investors to get exposure to international value stocks and a 2.5% yield.

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7 ETFs To Buy In A Recession

The fourth quarter was positive on multiple fronts for dividend investors as domestic payout growth increased, taking some dividend exchange traded funds along for the why.
<h3>What To Know</h3>
The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) jumped 7.3% in the final three months of 2019. The $19.78 billion SDY tracks the S&amp;P High Yield Dividend Aristocrats Index, which requires member firms to have minimum dividend increase streaks of at least 20 years.
Data indicate some SDY components likely kept those streaks alive in the last three months of 2019.
&ldquo;For Q4 2019, aggregate increases amounted to $11.97 billion, up 1.0%, from Q4 2018&#39;s $11.85 billion,&rdquo; <a href="https://www.prnewswire.com/news-releases/sp-dow-jones-indices-reports-10-6-billion-increase-in-us-dividend-payments-for-q4-2019-and-45-4-billion-for-2019--300982480.html">said S&amp;P Dow Jones Indices</a>. &ldquo;Aggregate dividend cuts, however, decreased 69.9% to $1.35 billion from $4.48 billion for Q4 2018, a period which included the $3.82 billion General Electric dividend cut.&rdquo;
<h3>Why It&#39;s Important</h3>
SDY is home to 112 stocks, a number that could expand thanks to last year&#39;s batch of dividend hikes.
&ldquo;For the year ending 2019, net dividends rose $45.4 billion, compared to a gain of $58.4 billion for 2018, as increases were $56.6 billion versus $66.5 billion, and decreases were $11.1 billion compared to $8.1 billion for the prior period,&rdquo; according to S&amp;P Dow Jones.
SDY allocates about a third of its combined weight to the industrial and consumer staples sectors while financial services and materials names combine for 24%. Despite the mostly defensive positioning, <a href="https://www.ssga.com/us/en/intermediary/etfs/funds/spdr-sp-dividend-etf-sdy">SDY trades at a discount to the S&amp;P 500</a>.
Last year was the eighth straight year of record payouts, bolstering the allure of ETFs like SDY.
<h3>What&#39;s Next</h3>
&ldquo;On a per share basis, S&amp;P 500 Q4 2019 dividend payments for the S&amp;P 500 increased 7.19% to a record-setting $15.21, from the Q4 2018&#39;s $14.19,&rdquo; notes S&amp;P. &ldquo;On an aggregate basis, index components paid $126.4 billion in dividends this quarter, also a record, up from $119.8 billion in Q4 2018. For the year, the index paid a record $56.24 per share, setting its eighth consecutive record year, up from 2018&#39;s $53.75, with an aggregate $485.4 billion to shareholders, compared to 2018&#39;s $456.3 billion.&rdquo;
Adding to the allure of dividend growth strategies like SDY this year are expectations that domestic dividend growth could return to a double-digit rate.
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Broad U.S. Equity ETFs

The Fourth Quarter Was Kind To Dividend Investors

Some dividend exchange traded funds have requirements regarding the stocks that qualify for admission into the portfolio. Others, well, they take the requirement gambit up a notch and, in some cases, investors benefit.
The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) is in the latter camp. SDY, one of the largest dividend ETFs by assets, follows the S&amp;P High Yield Dividend Aristocrats Index. That benchmark mandates that member firms have dividend increase of at least 20 years. Just <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/11/14764762/these-new-dividend-etfs-have-some-strict-requirements-and-thats-a-good-thing">two other ETFs</a>, one of which is a new fund, have longer payout hike requirements.
This year, SDY&#39;s strategy is working. The fund is up 21.6%, including dividends paid, and has been 110 basis points less volatile than the S&amp;P 500.
<h3>Why It&#39;s Important</h3>
SDY charges 0.35% per year, or $35 on a $10,000 investment, and while there are cheaper dividend funds on the market, SDY stacks up favorably in terms of performance against actively managed peers and some passive value strategies.
&ldquo;State Street Global Advisors charges a fee of 0.35% for this fund. This cost advantage relative to actively managed peers has translated into strong category-relative performance over the long term,&rdquo; <a href="https://www.morningstar.com/articles/957888/this-etf-sets-a-high-bar-for-dividend-durability">Morningstar said in a recent note</a>. &ldquo;Over the trailing 10 years through August 2019, the fund has outperformed the Russell 1000 Value Index by 152 basis points annualized with slightly lower risk. Overall, this fund should continue to enjoy a durable long-term edge over many of its competitors thanks to its cost advantage compared with its peer average and lower-than-average cash drag.&rdquo;
While SDY is fashioned as a high dividend play, it yields just 2.38%, indicating it has ample room for payout growth while steering clear of high-yield stocks that could be dividend cutters.
&ldquo;Reaching for yield may be tempting in a historically low interest-rate environment. However, aggressively chasing yield can court risk, as high-yielding stocks may have weak fundamentals and be prone to cutting their dividend payments,&rdquo; according to Morningstar. &ldquo;These companies may pay out a large share of their earnings and have a narrow buffer to cushion these payments if their business deteriorates compared with their lower-yielding counterparts.&rdquo;
<h3>What&#39;s Next</h3>
None of SDY&#39;s 112 holdings exceed weights of 2.38% and the fund isn&#39;t excessively allocated to traditional high dividend destinations, such as real estate and utilities. Rather, SDY allocates over a third of its combined weight to industrial and financial services stocks, two steady dividend growth sectors.
Morningstar has a Silver rating on the State Street ETF.
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Analyst Color

Analyst Ratings

Dividend ETF's Stiff Requirements Prove Fruitful For Investors

The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) has been getting some press lately and one reason for that is the fund&#39;s impressive mandate of only holding stocks that have boosted payouts for 20 consecutive years.
Well, that&#39;s the mandate of SDY&#39;s index, the <a href="https://spdji.com/indices/strategy/sp-high-yield-dividend-aristocrats-index">S&amp;P High Yield Dividend Aristocrats</a>, but you get the picture.
<h3>What Happened</h3>
Another reason for SDY&#39;s recent batch of acclaim is <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14448270/why-this-dividend-etf-can-work-in-a-variety-of-climates">the ETF&#39;s durability across</a> multiple market settings. Of course, that&#39;s a nice trait, but knowing why SDY has that durability is important, too.
&ldquo;The S&amp;P High Yield Dividend Aristocrats has diversified sector exposures, with some sector bets, given different dividend-paying practices among sectors,&rdquo; <a href="https://www.indexologyblog.com/2019/09/23/sp-high-yield-dividend-aristocrats-part-iii-sector-composition-performance-attribution-and-factor-exposure/">said S&amp;P Dow Jones Indices in a recent note</a>. &ldquo;Historically, the S&amp;P High Yield Dividend Aristocrats has had higher exposure to the Financials, Utilities, Consumer Staples, Industrials, and Materials sectors, in terms of absolute weight and weights relative to the <a href="https://spdji.com/indices/equity/sp-composite-1500" target="_blank">S&amp;P Composite 1500</a>.&rdquo;
Those five sectors combine for about two-thirds of SDY&#39;s roster.
<h3>Why It&#39;s Important</h3>
SDY&#39;s large combined weight to those sectors is important because although the fund isn&#39;t a high-yield play, it does source some yield from the utilities exposure. Additionally, the consumer staples, financial services and industrial sectors are reliable when it comes to dividend growth.
However, historical data confirm SDY&#39;s long-term returns are more attributable to stock selection over sector selection.
&ldquo;Performance attribution shows that individual stock selection contributed to 75% of monthly active returns, while sector allocation contributed to 25%. Thus, the outperformance of the S&amp;P High Yield Dividend Aristocrats mainly came from stock selection rather than sector allocation,&rdquo; according to S&amp;P Dow Jones.
<h3>What&#39;s Next</h3>
Investors evaluating SDY should also consider what factors drive the fund&#39;s performance. Not surprisingly, growth and momentum aren&#39;t really in the equation and that&#39;s alright.
&ldquo;We can see that the S&amp;P High Yield Dividend Aristocrats constituents had positive exposures to lower beta, better value, higher operating profitability, and more conservative investment growth. Profitability and investment growth are considered to be quality factors,&rdquo; according to S&amp;P Dow Jones.
In fact, the data indicate SDY&#39;s index had better quality and value traits than the S&amp;P 1500 Composite.
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Why This Dividend ETF Consistently Works

The phrase &ldquo;all weather&rdquo; is perhaps overused in the world of finance, but there are some strategies that consistently perform well when markets rise and perform less poorly when equities swoon. The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) is one of those products.
<h3>What Happened</h3>
As <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14401641/yield-and-steady-payout-growth-in-this-dividend-etf">was recently noted here</a>, SDY tracks the S&amp;P High Yield Dividend Aristocrats Index, a benchmark that requires member firms to have minimum dividend increase streaks of 20 years, and that index has a lengthy track record of topping the S&amp;P Composite 1500 Index. Of course, dividends played a major role in that out-performance.
&ldquo;From Dec. 31, 1999, to June 30, 2019, the <a href="https://spdji.com/indices/strategy/sp-high-yield-dividend-aristocrats-index">S&amp;P High Yield Dividend Aristocrats</a> generated a total return of 590.3%,&rdquo; said S&amp;P Dow Jones Indices <a href="https://www.indexologyblog.com/2019/09/16/sp-high-yield-dividend-aristocrats-part-ii-risk-return/">in a recent note.</a> &ldquo;Of the contribution, about 57% was from dividend income, while 43% came from price appreciation.&rdquo;
<h3>Why It&#39;s Important</h3>
On an annualized basis, SDY&#39;s index topped the S&amp;P Composite 1500 by an average of 4.3% and while much of that, as noted above, was attributable to dividends, a good portion of that out-performance was also linked to reduced volatility.
&ldquo;The reduced volatility helped the strategy deliver a much better risk-adjusted return (0.75) than the S&amp;P Composite 1500 (0.41). Furthermore, the S&amp;P High Yield Dividend Aristocrats also had superior risk-adjusted returns over the 5-, 10-, and 15-year periods,&rdquo; according to S&amp;P Dow Jones.
<h3>What&#39;s Next</h3>
SDY&#39;s index has, not surprisingly, shown strong defensive traits, though the fund is not necessarily boring. Currently, SDY allocates over a third of its weight to economically-sensitive industrial and financial services stocks. Defensive traits are realized with more than a quarter of the fund&#39;s roster devoted to <a href="https://us.spdrs.com/en/etf/spdr-sp-dividend-etf-SDY">consumer staples and utilities names</a>.
While SDY does have ample cyclical beyond its industrial weight -- 17% combined to consumer discretionary and materials stocks --&nbsp;data confirm the fund&#39;s defensive posture.
&ldquo;The S&amp;P High Yield Dividend Aristocrats demonstrated defensive features during the down markets of the studied period, with the strategy having a smaller maximum drawdown, less loss, and a lower beta than the S&amp;P Composite 1500,&rdquo; according to S&amp;P Dow Jones.
Over the past three years, SDY&#39;s largest drawdown was 14.2%, or 510 basis points below that of the S&amp;P 500.
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Why This Dividend ETF Can Work In A Variety Of Climates

With 10-year Treasury yields hanging around 1.5% and the dividend yield of 1.85% on the S&amp;P 500 hardly intoxicating, investors are again embracing dividend stocks and exchange traded funds. While the environment seems ripe for high dividend strategies, growth may still be the way to go.
<h3>What Happened</h3>
The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) tracks the S&amp;P High Yield Dividend Aristocrats, which obviously implies a high yield component, but in reality, SDY is a dividend growth play because the qualifier for that index is 20 consecutive years of dividend growth.
Still, the $18.65 billion SDY, one of the largest domestic dividend ETFs, yields 2.41% and these days, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/19/08/14338260/talking-about-yield-with-dividend-etfs">that&#39;s considered decent</a>.
SDY&#39;s &ldquo;index is designed to track a basket of stocks from the <a href="https://spindices.com/indices/equity/sp-composite-1500" target="_blank">S&amp;P Composite 1500</a> that have consistently increased their total dividends per share every year for at least 20 consecutive years,&rdquo; said S&amp;P Dow Jones Indices <a href="https://www.indexologyblog.com/2019/09/09/sp-high-yield-dividend-aristocrats-part-i-strategy-characteristics/">in a recent note.</a>
Historical data confirm that SDY&#39;s index has frequently sported a higher dividend yield than the S&amp;P Composite 1500.
<h3>Why It&#39;s Important</h3>
High-yield strategies may seem alluring, particularly with Treasury yields falling, but some high dividend stocks come by way of companies with flimsy balance sheets and that can lead to payout cuts and suspensions. Additionally, high-yield ETFs are usually more volatile than dividend growth rivals. For example, SDY has been less volatile than the yield-based Dow Jones U.S. Select Dividend Index over the past three years.
SDY has achieved that status while its index has offered better yields and lower volatility than broader benchmarks.
&ldquo;The S&amp;P High Yield Dividend Aristocrats has consistently had higher yields than its benchmark,&rdquo; according to S&amp;P Dow Jones. &ldquo;The average yield of the index was 3.5%, ranging from 2.5% to 5.8%. In contrast, the average yield of the S&amp;P Composite 1500 was 1.8%, with a range from 1.5% to 2.8%. On average, the dividend yield gap between these two indices was 1.7%.&rdquo;
<h3>What&#39;s Next</h3>
For income investors searching for yield, SDY is a suitable bond alternative because, as of the end of July, the fund&#39;s index yields was above those of 3-month and 10-year Treasuries as well as a major aggregate bond index.
Additionally, SDY is not doing this via high concentration to high-yield sectors, such as utilities and real estate. Those groups combine for less than 18% of the ETF&#39;s roster.
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Yield And Steady Payout Growth In This Dividend ETF

With Treasury yields in free fall and the yield on the S&amp;P 500 barely more impressive, dividend exchange traded funds are receiving renewed attention, but investors may be better served by emphasizing reliable growth over tantalizingly higher dividend yields.
<h3>What Happened</h3>
The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) tracks an index that purports to be a high-yield benchmark, but in reality, dividend growth is what makes SDY attractive for long-term income investors looking to reduce portfolio volatility.
SDY tracks the S&amp;P High Yield Dividend Aristocrats Index. Obviously, that benchmark has &ldquo;high yield&rdquo; in its name, but SDY&#39;s dividend yield of 2.36% is not alarmingly high. Rather, the source of allure with the fund&#39;s 112 components is that they have minimum dividend increase streaks <a href="https://us.spdrs.com/en/etf/spdr-sp-dividend-etf-SDY">of 20 years</a>.
&ldquo;Due to the index screen for 20 years of consecutively raising dividends, stocks included in the Index have both capital growth and dividend income characteristics, as opposed to stocks that are pure yield,&rdquo; according to State Street.
<h3>Why It&#39;s Important</h3>
SDY&#39;s look back means the fund is lightly allocated to technology stocks because that sector is still a new entrant to the dividend fray, but there aren&#39;t many other marks against the fund.
&ldquo;On the plus side, that screen keeps its portfolio focused on financially stable, shareholder-friendly firms,&rdquo; said Morningstar <a href="https://www.morningstar.com/articles/923704/4-excellent-dividend-growth-funds-and-etfs">in a recent note</a>.
Additionally, while the weighted average market value of SDY&#39;s holdings is $56.24 billion, the fund features robust exposure to steady but smaller dividend payers.
&ldquo;While the fund lands in the large-value Morningstar Category, it has a much larger allocation to midsize and small firms than does its typical peer; that&#39;s because its baseline index is all-cap rather than strictly focused on large stocks,&rdquo; according to Morningstar.
<h3>What&#39;s Next</h3>
Hopefully, SDY&#39;s ability to weather market storms and perform less poorly than broader benchmarks when stocks soon will not be tested anytime soon, but for long-term investors, it&#39;s nice to know the ETF has a verifiable record of holding up somewhat well during turbulent times.
&ldquo;The fund has still held up well in periods of market weakness. The fourth quarter of 2018 was a recent case in point: The fund lost less than 8%, whereas the S&amp;P dropped nearly 14% during that volatile three-month period,&rdquo; notes Morningstar.
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This Dividend ETF Is Still Royal

The S&amp;P 500 closed lower on an annual basis in 2018, weighing on dividend exchange traded funds in the process, but it was still a good year for dividend growth.
S&amp;P 500 dividends hit a record $14.19 per share on a quarterly basis, or $119.80 billion. The SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>), the world&#39;s largest ETF, has a trailing <a href="https://us.spdrs.com/en/etf/spdr-sp-500-etf-SPY">12-month dividend yield </a>of 2.04 percent.
<h3>What Happened</h3>
With the Federal Reserve having raised interest rates four times in 2018, it&#39;s unsurprising that some dividend stocks and ETFs struggled. The upside to that scenario is that some companies may have been compelled to boost dividends to compete with the higher yields offered by less risky U.S. government debt.
The &ldquo;average Q4 2018 dividend increase in the S&amp;P 500 was 10.24 percent, down from 10.41 percent&nbsp;during Q4 2017; 2018 average is 13.48 percent, up from 2017&rsquo;s 11.36 percent,&rdquo; <a href="http://www.indexologyblog.com/">according to S&amp;P Dow Jones Indices</a>.
Last year, the aggregate dividend increase was slightly off 2017&#39;s level, but so were dividend cuts.
&ldquo;For Q4 2018, aggregate increases amounted to $11.9 billion, down from Q4 2017&rsquo;s $12.4 billion,&rdquo; said S&amp;P Dow Jones. &ldquo;Aggregate dividend cuts decreased to $4.5 billion from $7.9 billion for Q4 2017.&rdquo;
<h3>Why It&#39;s Important</h3>
Amid 2018&#39;s backdrop of rising interest rates, dividend growth ETFs fared less poorly than their high dividend counterparts. The Vanguard Dividend Appreciation ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vig#NYSE">VIG</a>) and the SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) posted an average loss of 2.4&nbsp;percent last year.
VIG requires member firms to have dividend increase streaks of at least a decade, while SDY components must have dividend increase streaks of <a href="https://us.spdrs.com/en/etf/spdr-sp-dividend-etf-SDY">at least 20 years</a>.
Conversely, the Vanguard High Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vym#NYSE">VYM</a>) and the iShares Select Dividend ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dvy#NASDAQ">DVY</a>) &mdash; both high dividend strategies &mdash; posted an average annual decline of about 6 percent last year.
High dividend ETFs could find some support this year if the Federal Reserve slows its pace of rate hikes or if investors embrace defensive sectors&nbsp;such as consumer staples and utilities. Utilities stocks account for nearly a third of DVY&#39;s weight.
<h3>What&#39;s Next</h3>
The stage is set for more dividend growth in 2019.
&ldquo;Based on their current payout policies, S&amp;P 500 2019 dividends already have a 3.5-percent&nbsp;tailwind built in, setting the stage for potentially another record year, with the increase again expected to outpace wage growth and inflation,&rdquo; said Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices.
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iShares Dow Jones Select Dividend Index Fund

Dividends Eclipsed More Records In 2018 Even As ETFs Fell

Volatility and uncertainty surrounding global economic growth and rising yields have made investors defensive. This has increased the appeal for products that provide safety and stability in a rocky market.
Dividend-focused products offer both safety in the form of payouts and stability in the form of mature companies that are less volatile to the large swings in stock prices. The dividend-paying securities are the major sources of consistent income for investors when returns from equity markets are at risk. Further, these products are proven outperformers over the long-term.
While there are plenty of options in the dividend ETF world, honing in on the &quot;dividend aristocrats&quot;&nbsp;could be the most beneficial way to ride out the current market volatility, resulting from political and geopolitical worries.<iframe allow="autoplay; encrypted-media" frameborder="0" height="315" src="https://www.youtube.com/embed/GpC1-r4xYsQ?rel=0" width="560"></iframe>
<h3>Why Dividend Aristocrats?</h3>
Dividend aristocrats are&nbsp;blue-chip dividend-paying companies, which have a long history of raising dividend payments each year. These generally act as a hedge against economic uncertainty and provide downside protection by offering outsized payouts or sizable yields on a regular basis. Additionally, aristocrats tend to skew the portfolio to less volatile sectors and mature companies.
Investors should note that the dividend aristocrat funds offer more dividend growth opportunities when compared to the other products in the space but might not necessarily have the highest yields. Further, these products lead to a healthy portfolio with a greater scope of capital appreciation as opposed to simple dividend paying stocks or those with high yields.
As a result, these products provide a nice combination of annual dividend growth and capital appreciation opportunity and are mainly suitable for risk adverse long-term investors. For them, we have highlighted some popular ETFs that could be excellent choices:
Vanguard Dividend Appreciation ETF&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vig#NASDAQ">VIG</a>)
This is the largest and most-popular ETF in the dividend space with AUM of $28.9 billion and average daily volume of about 596,000 shares. The fund follows the NASDAQ US Dividend Achievers Select Index, which is composed of high quality stocks that have a record of raising dividend every year. It holds 182 securities in the basket, with none accounting for more than 4.5% share. The fund charges 8 bps in annual fees.
iShares Select Dividend ETF&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dvy#NASDAQ">DVY</a>)
This fund provides exposure to the companies with a consistent 5-year history of dividend payments. It follows the Dow Jones U.S. Select Dividend Index and holds 98 securities in its basket with each accounting for less than 2.6% of assets. The ETF has AUM of $16.7 billion and average daily volume of more than 489,000 shares. It charges 39 bps in fees per year from investors.
SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>)&nbsp;
With AUM of $15.4 billion and average daily volume of 377,000 shares, this fund provides a well-diversified exposure to 111 U.S. stocks that have been consistently increasing their dividends every year for at least 20 years. This can be done by tracking the S&amp;P High Yield Dividend Aristocrats Index. Each firm accounts for less than 2.5% of assets. The fund charges 35 bps in fees.
Schwab U.S. Dividend Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schd#NYSE">SCHD</a>)
With AUM of $7.8 billion, this product offers exposure to 108 high-dividend yielding U.S. companies that have a record of consistent dividend payments supported by fundamental strength based on financial ratios and ample liquidity. This can be easily done by tracking the Dow Jones U.S. Dividend 100 Index. The fund is well spread across components, with none holding more than 4.8% of assets. It charges 7 bps in annual fees and trades in solid volume of around 758,000 shares a day.
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Specialty ETFs

An Investors' Guide To Dividend Aristocrat ETFs

Forget the trade war, let&#39;s talk briefly about the yield war.
Stocks have been a proxy for yield for quite some time now. Income-seeking investors crowded into dividend payers with large investment institutions hammering this mentality into retail clients. This may have something to do with the weakness within Consumer Staples which was down 14 percent&nbsp;at one point this year, and still down over 7 percent.
I don&#39;t think it is a coincidence that Staples peak valuation was July of 2016 at 24x earnings, at the same time rates were really starting to accelerate higher. Additionally paying 24x earnings for the sector with the lowest profit margins and static growth did not seem too rational&nbsp;in my&nbsp;view.
Looking below at the chart you can clearly see how the 6-month U.S. Treasury Bill has been well below that of the S&amp;P 500 dividend yield since 2008. As the Fed began raising rates, the yield for T-bills rose and has officially surpassed that of the S&amp;P 500 yield.
This is a critical change in the investment landscape and one that should be on the top of everyone&#39;s mind. The yield war has begun, and I believe this is a net negative for equities.
<img alt="" src="https://cdn-images-1.medium.com/max/1024/1*BLMDVa1wg89vERDlv2vN0g.png" />
Disclaimer: This is not a recommendation for purchase or sale of any securities.
Avory &amp; Co. is a registered investment adviser. Information presented is for educational purposes only. Please see full disclaimer <a href="http://www.avory.xyz/disclaimer-page">here</a>.
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Treasuries

Another War Is On, This Time Between Dividends And Bonds

S&amp;P 500 member firms delivered some solid dividend growth numbers in the first half of 2018.
&ldquo;Aided by strong earnings and corporate management&#39;s confidence in the future, more than 40 percent of the S&amp;P 500 constituents raised their dividends in the first half of 2018,&rdquo; said <a href="https://newpublic.cfraresearch.com/">CFRA Research</a> Director of ETF &amp; Mutual Fund Todd Rosenbluth in a note out Wednesday. &ldquo;Dividend hikes occurred in various sectors, highlighting the benefits of using diversified funds to gain equity income exposure.&rdquo;
<h3>What To Know</h3>
With the Federal Reserve boosting interest rates twice in the first half of the year, some dividend exchange traded funds struggled relative to the broader market. The Vanguard Dividend Appreciation ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vig#NYSE">VIG</a>) and the SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdy#NYSE">SDY</a>) are up 2.3 percent and 1 percent, respectively, year-to-date.
VIG and SDY are two of the largest U.S. dividend ETFs and both focus on dividend growth. SDY follows the High Yield Dividend Aristocrats Index, which requires member firms to have minimum dividend increase streaks of at least 20 years. VIG&#39;s underlying index has a minimum dividend hike streak requirement of a decade.
<h3>Why It&#39;s Important</h3>
&ldquo;According to Howard Silverblatt, Senior Index Analyst of S&amp;P Dow Jones Indices, there have been 216 dividend increases by S&amp;P 500 companies, with 84 occurring in the second quarter,&rdquo; said Rosenbluth. &ldquo;The average second quarter increase was 14 percent, up from 12 percent a year earlier, indicating greater optimism.&rdquo;
More than 400 members of the S&amp;P 500 pay dividends. As of July 10, the S&amp;P 500 <a href="https://us.spdrs.com/en/etf/spdr-sp-500-etf-SPY">yielded 1.90 percent</a>, a level surpassed by some sectors and lagged by others. Health care is an example of a sector that yields less than the S&amp;P 500 (1.8&nbsp;percent), but is also home to robust dividend growth.
SDY devotes 5.81 percent of its weight to health care stocks while that sector represents 12.1&nbsp;percent of VIG making it the Vanguard fund&#39;s third-largest sector allocation.
<h3>What&#39;s Next</h3>
With U.S. companies sitting on mountains of repatriated cash following last year&#39;s tax reform legislation, buybacks and dividends are proving to be among the strategies for deploying some of that cash.
More interest rate hikes could weigh on dividend ETFs, but VIG is lightly allocated to rate-sensitive sectors as utilities and telecommunications names combine for just 3.2&nbsp;percent of the fund&#39;s weight.
CFRA has Overweight ratings on both SDY and VIG.
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Dividend Growth Provides A Spark For These ETFs

Due in part to expectations of higher interest rates in the first quarter, some dividend stocks and exchange traded funds struggled against the broader market. On the bright side, S&amp;P 500 dividends continue growing.
&ldquo;Despite recent and expected hikes by the Federal Reserve and stocks selling off, U.S. companies paid a record amount of cash dividends in the first quarter of 2018,&rdquo; <a href="https://newpublic.cfraresearch.com/">CFRA Research</a> Director of ETF &amp; Mutual Fund Research Todd Rosenbluth said in a note out Monday. &ldquo;Within the S&amp;P 500, the average dividend increase during the first quarter was 13.9 percent, up from 10.4 percent during the fourth quarter of 2017 and 10.2 percent a year earlier.&rdquo;
Numerous ETFs focus on dividend growth in varying fashions. The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>) and the ProShares S&amp;P 500 Dividend Aristocrats ETF (CBOE: NOBL) focus on companies with lengthy histories of raising payouts.
<h3>
	Dividend Growth Details</h3>
NOBL tracks the S&amp;P 500 Dividend Aristocrats Index, which requires member firms to have minimum dividend increase streaks of 25 years. Many of NOBL&#39;s 53 holdings go well beyond that.
&ldquo;In the first quarter of 2018, 20 constituents further increased the cash payout, including CFRA Strong Buy-recommended Coca-Cola Co. (NYSE: <a class="ticker" href="/stock/ko#NYSE">KO</a>) and CFRA Buy-recommended General Dynamics Inc. (NYSE: <a class="ticker" href="/stock/gd#NYSE">GD</a>),&rdquo; said Rosenbluth. &ldquo;For NOBL, the consumer staples (25 percent of assets) and industrials (17 percent) sectors are overweighted relative to the broader S&amp;P 500 index.&rdquo;
NOBL allocates about 22 percent of its combined weight to the health care and consumer discretionary sectors. The ETF has a distribution yield of 2.34 percent. NOBL is down 2.4 percent year-to-date.
<h3>
	NOBL&#39;s Rival</h3>
SDY follows the S&amp;P High Yield Dividend Aristocrats, which requires a minimum dividend increase streak of 20 years. As is the case with NOBL, SDY is home to many stocks that easily exceed the minimum dividend increase streak required by the fund&#39;s underlying index.
&ldquo;While much of the sector exposure differs, SDY and NOBL have 3 percent and 2 percent, respectively, in the growth-oriented information technology sector,&rdquo; said Rosenbluth. &ldquo;Paying and raising dividends had not been a long-term priority for the sector&#39;s S&amp;P constituents. However, that has been changing in recent years. Indeed, 76 percent of tech companies in the S&amp;P 1500 now sport a dividend.&rdquo;
SDY allocates about 31 percent of its combined weight to consumer staples and financial services stocks. The ETF&#39;s dividend yield is 2.42 percent.
CFRA has Overweight ratings on NOBL and SDY.
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NOBL

Dividend Growth ETFs Stumble As Payout Growth Continues

Several exchange traded funds already track dividend aristocrat indexes, and that group became a little bigger Tuesday with the debut of the Cboe Vest S&amp;P 500 Dividend Aristocrats Target Income ETF (CBOE: KNG).
The Cboe Vest S&amp;P 500 Dividend Aristocrats Target Income ETF is the first to be issued by Cboe Vest Financial LLC, the asset management unit of Cboe Global Markets. KNG is not the standard index-based dividend ETF, as this new fund aims to deliver income and growth via a unique overwriting strategy.
KNG &ldquo;is comprised of an equally weighted portfolio of well-known &#39;aristocrats,&#39; S&amp;P 500 stocks with a history of 25 years of consecutive dividend growth. A monthly call overwrite strategy applied to a small part of the stock holdings converts a portion of the future growth of each stock into current income,&rdquo; <a href="https://www.prnewswire.com/news-releases/cboe-vests-new-dividend-aristocrats-etf-ticker-kng-combines-quality-dividend-growers-with-partial-call-overwriting-strategy-targeting-income-with-growth-300620228.html">according to a statement</a>.
<h3>
	Covered Calls</h3>
KNG goes beyond the income-generating capabilities of dividend stocks by adding covered calls to the mix.
The new ETF &ldquo;targets portfolio yield, pursuing a strategy that seeks to convert a portion of the potential upside performance of dividend growers into current income,&rdquo; according to CBOE. &ldquo;The strategy seeks to provide annualized income from stock dividends and option premiums of approximately 3 percent over the annual dividend yield of the S&amp;P 500&nbsp;Index and generate price returns that are proportional to the price appreciation of the S&amp;P 500 Index, before fees and expenses.&rdquo;
The S&amp;P 500 Dividend Aristocrats Index is almost 13 years old and has produced average annualized returns of 12.58 percent over the past decade, according to <a href="https://us.spindices.com/indices/strategy/sp-500-dividend-aristocrats">S&amp;P Dow Jones Indices</a>. The benchmark is home to 53 stocks, 45.5 percent of which hail from the consumer staples and industrial sectors.
<h3>
	Growth And Income</h3>
&ldquo;The capital appreciation potential from holding dividend growth stocks supports the growth component of the strategy, while the premiums collected from sale of the options, in addition to the dividend payments, support the target income goal,&rdquo; said KNG&#39;s issuer.
The new ETF charges 0.75 percent per year, or $75 on a $10,000 investment.
Other ETFs tracking dividend aristocrats indexes include the SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>) and the ProShares S&amp;P 500 Dividend Aristocrats ETF (CBOE: NOBL).
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New ETFs

A New Aristocrats ETF With Added Income

Among older dividend exchange-traded funds, the usual strategies are to focus on high-yield dividend payers or those companies displaying favorable payout growth trends. High dividend stocks often hail from sectors, such as consumer staples, telecommunications and utilities, implying that these name are favored when Treasury yields are falling.
On the other hand, dividend growers are favored for their quality traits and, of course, those steadily rising payouts. The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>) is one of the oldest and largest U.S. dividend ETFs and some of that success is attributable to a methodology that focuses on steady dividend growers.
SDY turns 13 later this year and has nearly $15.4 billion in assets under management. The ETF tracks the S&amp;P High Yield Dividend Aristocrats Index, which mandates that member firms have dividend increase streaks of at least 20 years.
<h3>
	Advantages Of Dividend Growers</h3>
&ldquo;Dividend growers, which tend to be higher quality companies, have generally shown greater resilience in unsteady markets and could address concerns about dividend stocks in a rising-rate environment, to some extent,&rdquo; <a href="http:// http://www.indexologyblog.com/2018/02/12/a-case-for-dividend-growth-strategies-part-1/">said S&amp;P Dow Jones Indices</a>.
SDY allocates just 12.8 percent of its weight to the utilities sector. By comparison, the iShares Select Dividend ETF (NASDAQ: <a class="ticker" href="/stock/dvy#NASDAQ">DVY</a>), a yield-driven strategy, devotes more than 26 percent of its weight to utilities. Over the past three years, SDY has outperformed DVY by 300 basis points, including dividends paid.
For the six years spanning 2012 through 2017, SDY outperformed DVY in four of those six years. SDY yields 2.32 percent, 40 basis points above the dividend yield on the S&amp;P 500.
<h3>
	Not Just 20 Years</h3>
As was noted earlier, SDY&#39;s underlying index requires 20 consecutive years of dividend increases, but many of its components go well beyond that requirement.
&ldquo;While the hurdle for index inclusion is 20 straight years of increasing dividends, the index average is 35.9 years,&rdquo; said S&amp;P Dow Jones. &ldquo;Additionally, there are eight constituents with over 55 consecutive years of dividend increases. This impressive consistency suggests a certain amount of financial strength and discipline, which may provide some downside protection in turbulent markets.&rdquo;
Historical data indicate SDY&#39;s index tops the broader market when stocks swoon. From the end of 1999 through the end of 2017, the 15 worst months for the S&amp;P Composite 1500 resulted in average declines of 8.93 percent, but SDY&#39;s index fell an average of 5.85 percent in those months, according to S&amp;P Dow Jones data.
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An ETF With A Long-Term Dividend Strategy

Higher beta sectors have been in favor for much of this year, but investors should not turn their backs on dividend strategies. While fears of rising interest rates coupled with leadership from the technology sector have weighed on some dividend exchange traded funds, returns from this group are still solid, though some still lag the S&amp;P 500.
The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>) is up a decent 14.4 percent year-to-date, including dividends paid. At a time when interest rates throughout the developed world are still low, an ETF such as SDY offers some allure for conservative, income-seeking investors. The $16.5-billion SDY, which recently turned 12 years old, is one of the oldest and largest U.S. dividend ETFs.
SDY has long been a favorite with dividend investors due to the fund&#39;s focus on dividend growth. The ETF&#39;s holdings must have payout increase streaks of at least 20 years, a strategy that potentially limits volatility while ensuring dividend consistency.
<h3>
	Financial Health</h3>
Dividends are one of the best ways to gauge a company&#39;s financial health. Said another way, it&#39;s rare when financially healthy firms cut or suspend dividends.
SPDR S&amp;P Dividend ETF tracks the S&amp;P High Yield Dividend Aristocrats Index, which includes stocks from the S&amp;P 1500 Composite Index that have increased their dividend payment for at least 20 consecutive years,&rdquo;&nbsp;<a href="http://beta.morningstar.com/articles/838819/an-elegant-and-transparent-dividend-focused-strategy.html">Morningstar</a>&nbsp;said in a note last week. &ldquo;The fund&#39;s focus on firms that are financially healthy enough to grow their payouts favors profitable companies with durable competitive advantages. And the fund finds yield. Its average dividend yield has measured about 30 percent higher than that of the Russell 1000 Value Index since the fund&#39;s inception in November 2005.&rdquo;&nbsp;
Overall, SDY has a large combined weight to high-yielding sectors, such as consumer staples, real estate and utilities. Those sectors combine for over 34 percent of the fund&#39;s weight, but SDY&#39;s dividend yield of 2.3 percent is not alarmingly high.
<h3>
	Stability Matters</h3>
Historically, stocks that consistently grow their dividends are less volatile than non-dividend payers, a theme SDY obliges.
&ldquo;Despite its smaller market capitalization, the fund&#39;s tilt toward more-stable stocks has helped it shine during market downturns,&rdquo; said Morningstar. &ldquo;It held up better than the Russell 1000 Value Index and landed in the top quartile of the large-value category during the market drawdown from October 2008 to March 2009. The fund outpaced its category by 3.2 percent during the trailing 10 years through October 2017, primarily because of greater exposure to utilities stocks, smaller exposure to energy stocks and more favorable stock exposure within the financial sector.&rdquo;
SDY currently allocates 14.5 percent of its weight to financial services stocks, its third-largest sector exposure.
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A Dependable Dividend ETF

With factors such as growth and momentum shining this year, it is not surprising that some dividend-oriented strategies and exchange traded funds are lagging. While the S&amp;P 500 is up more than 8 percent year to date, the SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>) and the ProShares S&amp;P 500 Dividend Aristocrats ETF (NYSE: <a class="ticker" href="/stock/nobl#NYSE">NOBL</a>) are up 4 percent and 7 percent, respectively, including dividends paid.
Still, defensive strategies can be rewarding in the often hard-to-navigate summer months when investor&#39;s risk appetite dwindles. Some defensive sectors perked up in significant fashion in the latter stages of May.
<h3>Going On The Defense</h3>
&ldquo;Investors&#39; recent tendency toward the defensive, high yielding sectors likely reflects the increased level of political uncertainty in the marketplace and a flight to safety,&rdquo; said <a href="http://cfraresearch.com/">CFRA Research&#39;s</a> Director of ETF &amp; Mutual Fund Research Todd Rosenbluth in a note out Thursday. &ldquo;Utilities, real estate and staples achieved most of their May gains in final two weeks of the month, when concern regarding the Trump administration was heightened. Over the course of the same period, the 10-year Treasury yield declined from 2.34 percent on May 15, to 2.21 percent on May 31.&rdquo;
<h3>SDY For The Summer</h3>
SDY only holds stocks that a have a minimum dividend increase streak of 20 years. The ETF tracks the S&amp;P High Yield Dividend Aristocrats Index. NOBL tracks the S&amp;P Dividend Aristocrats Index, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/01/8887206/a-nobl-endeavor-finding-dividend-growth-with-etfs-in-201">which mandates each holding</a> has a dividend increase of at least 25 years.
SDY allocates 26.3 percent of its combined weight to consumer staples and utilities stocks while real estate names account for 6.4 percent of the ETF&#39;s roster. NOBL&#39;s largest sector allocation is 25.5 percent to consumer staples, but utilities are just 2 percent of that fund&#39;s weight.
SDY&#39;s &ldquo;index is comprised of S&amp;P 1500 companies (including S&amp;P 400 mid-cap and S&amp;P 600 small-cap stocks) that have consistently increased their dividend for at least 20 years. The High Yield index has also outperformed the S&amp;P 500 (and S&amp;P 1500) over the last ten years, appreciating 13 percent more than the broader index. The performance of the S&amp;P High Yield Dividend Aristocrats index is less consistent than the S&amp;P 500 Dividend Aristocrats index given the inclusion of mid- and small-cap companies, which can be more volatile,&rdquo; said CFRA&#39;s Lindsey Bell in the note.
While SDY and NOBL feature some exposure to some high dividend sectors, neither is a pure high-dividend strategy as highlighted by an average yield of about 2.25 percent on the two ETFs. Lower-yield dividend growers can usually endure higher interest rates better than high-yield rivals.
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