Yes, this is one of the commission-free trades with Fidelity. I'm looking at IDV to help diversify my overall portfolio. As with all diversification, the overall performance will not be as good as the best individual sector for the year, but the portfolio as a whole should win out in the long run. 2014 was great for the U.S. stock market. No so much for non-US developed stock. But it could be the reverse in 2015. At least, that's the theory. And, on the up side, with a dividend paying fund, if you're DRIPing, you are buying more shares at the lower level. Again, theoretically, this should pay off in the eventual turn-around. If we have a very long holding period it should be a smart move. The trick is not to panic and sell when it under-performs other sectors. I know that is easier said than done for someone who bought in in 2008.
I took my lumps too. I knew a high distribution meant risk, and that gamble didn't pay off. I took a look around and got rid of some of my other risky assets too. I'd rather sleep better. Unfortunately, a 50% drop requires a 100% rise to make up the difference. The recovery formula is non-linear, so if it falls further to a 75% drop, it will require a 300% return to get back to zero. Luckily for me, this wasn't a large part of my portfolio, and was relatively inexpensive wake up call.