Read Jeremy Siegel's "The Future for Investors". DVY implements a strategy he proposes in that book, of a portfolio of the highest yielding stocks with a long history of increasing dividends. And that is what DVY is.
Unfortunetly I did read his book...I then bought this crap at 75.But who knew the banks were a ponzi scheme...dvy sure had know clue.They are better diversified now and with a better yield...so I have averaged down.I just hope they have better checks and balances for what they are investing our money in.
First I have to state I don't own the issue now. I however like the format of the company [i.e.]investing in large cap companies. However, I have to warn you that now is not the time to be going long term on this issue. After September / Octobers decline in the DJIA is over this issue will be a great investment.
Before everyone lists me as a basher, I am not. I have a web site, check my Yahoo profile, and I write about the markets. I believe that short term the Dow will move higher but there is one more major decline coming before that happens.
Those who buy this fund before that happens will be hurt dramatically since these large cap stocks are the ones that will fall the most.
As stated above, after the decline this issue will be a great buy.
It is out performing the DOW and paying 6.8%. They own 100 good stocks.I like it--only question I have is what ownership date gives me the dividend--that I believe they pay once a year- good luck Look at HDPMX- very good fund.