We noted some late week flows in Equity Dividend products, DVY (iShares DJ Select Dividend, Expense Ratio 0.40%) and HDV (iShares High Dividend Equity, Expense Ratio 0.40%), with the former fund reeling in $140 million while the latter lost more than $230 million in assets.
At the half-way mark in 2013, portfolio managers may be making net adjustments to overall investment portfolios and re-balancing positions for tactical if not strategic reasons.
HDV has its heaviest sector weighting toward Health Care (23.14%), followed by Communication Services (17.19%) and Utilities (13.85%) while DVY is skewed toward Utilities (31.68%), Consumer Staples (14.21%), and Industrials (12.81%).
From a yield perspective, comparatively DVY has a yield of 3.43% while HDV’s yield is 3.22%. Both of these funds are quite large in terms of net assets under management, as DVY has $12.5 billion and HDV $3.5 billion, so the flows last week, while large when compared to all weekly ETP flows, are not gigantic in terms of the total assets held in these funds.
Broadly categorized in the “Large Cap Value” category, other funds of interest that have surely seen upticks in activity in recent days include IWD (iShares Russell 1000 Value, Expense Ratio 0.22%), VIG (Vanguard Dividend Appreciation, Expense Ratio 0.13%), and SDY (SPDR S&P Dividend, Expense Ratio 0.35%).
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- Mutual Funds
- Expense Ratio